Physicians Revenue Cycle Management
Accounting and Taxation Services
Bookkeeping, reconciliation, financial statements and tax returns built for medical practices, connected to your billing data for a complete financial picture.
Accounting & taxation
Financial clarity built for medical practices
Running a medical practice means managing a business: payroll, overhead, investments, taxes and cash flow. Yet medical practice finances are unique. Insurance deposits cover many patients at once, remittances arrive separately from funds and collections depend on billing performance.
PRCM structures your financial records, from ledgers and bookkeeping to system setups, tax returns and financial statements. Because we also understand the revenue cycle, we connect your billing data to your books for a complete, accurate picture of practice health.
What we handle
- Bookkeeping and general ledger management
- Bank and payment reconciliation
- Accounting system setup
- Monthly financial statements
- Practice and physician tax returns
- Year-end and quarterly tax planning support
- Budgets and financial reviews
Why it matters
Better numbers lead to better decisions
Books you can trust
Insurance payments, patient collections and deposits are reconciled so your financial statements reflect reality.
Clear financial statements
Understand profitability, cash flow and financial position with statements you can actually read.
Smarter tax planning
Organized records and timely projections make year-end planning and tax season far less stressful.
Control costs
Track overhead and cost to collect, and spot savings opportunities early.
Budgets and forecasts
Realistic budgets and mid-year reviews keep the practice on track.
Linked to billing
Because we also manage billing, revenue reporting and accounting tell the same story.
How it works
Our accounting process
- Set up the systemA chart of accounts and accounting system designed for medical practices.
- Reconcile regularlyInsurance remittances, deposits and patient payments matched and recorded.
- Close the books monthlyTimely monthly closes with clear financial statements.
- Plan for taxesIncome projections and planning conversations before deadlines, not after.
- Prepare returnsPractice and physician tax returns prepared from organized records.
For physician-owners
Support for the practice and the physician
Physician-owners manage both a business and high personal income. We help coordinate practice finances with personal tax planning, working alongside your financial and legal advisors.
Tax situations vary. We provide guidance specific to your circumstances rather than one-size-fits-all advice.
- Entity structure reviews with your advisors
- Estimated tax planning
- Retirement plan coordination
- Equipment purchase planning
- Deduction documentation
Questions
Accounting and tax FAQs
Do you work only with medical practices?
Our accounting and taxation services are designed specifically for physician practices and healthcare organizations, so we understand how practices earn and collect revenue.
Can you work with our existing accountant?
Yes. We can handle bookkeeping and financial statements while coordinating with your existing tax advisor, or provide full support.
How often will we receive financial statements?
We recommend monthly financial statements so you always have a current view of the practice.
Do you help with tax planning, not just filing?
Yes. We help organize records and project income throughout the year so planning decisions can be made before deadlines.
Insights
Related reading
Get clarity on your practice finances
Let’s organize your books and plan for a stronger financial year.