Healthcare

Edelstein & Company provides comprehensive healthcare services to our clients, just as our physician clients provide comprehensive healthcare to their patients.

We have extensive experience helping a significant number of physicians and their practices manage the financial part of their operations. Our skill in this area has never been more valuable than it is today.

Especially in Massachusetts, the healthcare industry in general and medical practices in particular are finding themselves at an inflection point – while their revenues are flat or decreasing, their expenses are increasing. At the same time, insurance and government regulations are becoming more complex and burdensome. In an environment like this, there simply is no substitute for doing business with an accounting firm that understands the healthcare environment as thoroughly as we do.

Among the many services we provide are the following:

Healthcare Accounting & Consulting
• Conduct budget negotiations with hospitals
• Review managed care contracts
• Review and negotiate hospital contracts
• Prepare and monitor budgets
• Prepare in-house financial statements
• Manage and monitor the various fringe benefit plans
• Review of physician CME and other expense reimbursements to ensure they are deductible for tax purposes and are in compliance with the reimbursement policies. This is especially important to taxable organizations.

Medical Practice Management
• Meet with outside billing companies on a monthly basis to review billing reports
• Perform bookkeeping functions including general ledger preparation, trial balance preparation, bank reconciliations, cash flow maintenance and more
• Prepare and monitor budgets
• Payment of account payable bills from vendors
• Process payroll
• Manage and monitor the various fringe benefit plans