Healthcare Management Consulting

Jennifer Sicking, CPA, PFS | Click to email Jennifer
Amanda Hess, CPA | Click to email Amanda

The unique business of healthcare demands a CPA whose knowledge surpasses tax and accounting experience. KHA’s professionals help healthcare professionals not only file annual tax returns and plan for wealth preservation, but also find ways to help the practice make more money, work smarter and find more quality time for healthcare professionals to spend outside of the practice. With diminishing reimbursement rates, now more than ever, physicians must find ways to minimize costs, collect accounts receivable better, and raise revenue in more creative ways.

With our extensive industry experience, our consultants can:

  • Benchmark your practice with other specialties in your geographic region using data provided by MGMA or your specialty’s membership group
  • Review, discuss, and help implement potential investments in alternative income vehicles, like surgery centers, physician owned hospitals, and MOBs
  • Assist in the implementation of forming single specialty and multispecialty group practices to take advantage of economies of scale
  • Analyze front office procedures to increase efficiency, save labor costs and improve segregation of duties
  • Review patient collection procedures and suggest improvements to ensure that collections are more consistent and timely, since patient out-of-pocket liabilities are increasing with higher patient deductibles becoming more common
  • Handle CFO duties to help coordinate recurring meetings by communicating with bookkeeping staff and administration to create meaningful reports to facilitate decision-making
  • Partner with your attorney to design entity formations that will benefit the practice, save taxes and protect assets
  • Help establish a competitive compensation and incentive plan
  • Set up budgets, forecasts, review trends
  • Evaluate merger/purchases and buy/sell agreements
  • Help design and implement an exit strategy