Doctors and healthcare professionals know there’s very little room for error in a medical practice or doctor’s office, especially when it comes to the health and well-being of their patients. But what about financial errors? Ensuring that you’re in compliance with tax laws, regulations and healthcare billing is crucial for improving office profitability and productivity. A medical practice should always be striving to operate at its highest potential – this includes handling the financial side of things, too. That’s why we at MBA Medical are offering bookkeeping services to doctors and medical offices.
Common financial & billing errors in medical offices
Preventing accidental errors on tax forms, stock takes and other forms of documentation before they occur ensures that your office isn’t spending money and resources to fix issues that could have been avoided in the first place. Here are some common billing issues that bookkeeping services for medical practices can tighten up:
Payroll mistakes: Common mistakes from mishandling overtime payments to producing incorrect end-of-year bonuses are easy to catch and can accrue unnecessary costs for practices if left unnoticed.
Unreliable financial reports: How do you know where you’re going if you don’t know where you’ve been? Producing accurate financial reports over time gives you a full picture of the areas where your office is operating well, and the areas where there’s space for improvements. Producing accurate financial reports help you plan for the future and ensure a profitable future.
“As a bookkeeper for medical groups, I’ve worked with MBA since 2000. In that time, we’ve shared at least 4 clients. The MBA team has been consistently professional, reliable, friendly, and responsive to the changing needs of our shared clientele. They keep up with technology advances and maintain high standards for internet security and HIPAA requirements. I highly recommend MBA’s services.”
-Anne Dobson, Physician Accounting
Bookkeeping services for medical offices
The biggest benefit of letting MBA Medical Services tackle your office’s bookkeeping needs is avoiding costly errors and freeing up your staff to handle other parts of the daily workload. Here’s a general overview of the bookkeeping services we’ll take care of for your medical practice or doctor’s office:
Cash flow forecasting
Preparation and/or of expense reports
Review balance sheet accounts
Medical billing services in Portland OR
For more than 20 years, MBA Billing has provided trusted healthcare billing services and practice management in the greater Portland area. Contact us today to see how we can improve your practice’s efficiency and profitability.