How Do You Optimize Your Healthcare Practice?

Optimizing a Healthcare practice through the revenue and expense cycles has unique benefits to many organizations. 

Revenue Cycle Optimization

We perform a comprehensive analysis of the entire revenue cycle, including an assessment of data, software, and processes in conjunction with data analytics to improve and optimize your physician practice economics.

The benefits of this engagement include:

  • increase cash flows and collections
  • Reduce write-offs
  • Increase accuracy and efficiencies of processes
  • Reduce revenue losses

 

Expense Cycle Optimization

Optimizing the revenue cycle gains even more benefits by doing the same with the expense cycle. We perform a comprehensive analysis of the entire expense cycle including the qualification of vendors, accounts payable process, analysis of outflows and operating expenses, and capital purchases. 

This allows you to:

  • Improve vendor selection and management
  • Increase accuracy of operating expenses and processes
  • Improve budgeting and forecasting with actual results

Robotic Process Automation

For a truly revolutionary Healthcare practice, we recommend the implementation of Robotic Process Automation. Simpler than you think, robotic automation can streamline many tedious and laborious tasks your employees do every single day. We will identify and implement changes within your practice that automates these routine activities to increase efficiencies, reduce administrative costs, and increase data accuracy across the practice. 

Some processes that can be automated are:

  • Retrieval, analysis, and recovery of denials and underpayments
  • Bank reconciliations
  • Expense reports
  • Front and back office administration
  • Accounts Payable
  • Month end close process

Your Healthcare Services Team

Kevin_Lovins

Kevin Lovins

Tax Shareholder, CPA
klovins@bvccpa.com
713-353-1914

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Sonny_Brandtner

Sonny Brandtner

Consulting Shareholder, CPA, CFE
sbrandtner@bvccpa.com
281-917-7541

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XIN_XIN

Xin Xin

Tax Shareholder, CPA
xxin@bvccpa.com
713-366-8501

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Thao_Griepp

Thao Griepp

FVLS Director, CPA, J.D.
tgriepp@bvccpa.com
832-463-4137

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Fast Facts

  • Practice leaders are CPAs and former surgeons, providing insights from a unique finance and operations perspective
  • Integrated approach to audit, tax, and business operations provides seamless service to address complex issues of running an individual practice or multi-location clinics
  • Tax planning takes a more holistic approach, as the entity structure and tax planning measures can have both personal and corporate tax liabilities
  • Unique services such as outsourced accounting and controllership provides sophisticated services to growing medical, dental, and veterinary practices without overhead burdens
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