Maintaining and tracking expenses for your healthcare practice can be challenging, especially when you invest in a variety of expenses. This can be even more difficult if your practice doesn’t have an in-house accounting department or set record-keeping guidelines. That’s where healthcare financial statements are invaluable. Healthcare financial statements allow doctors and dentists to track […] The post Healthcare Financial Statements: Doctors’ and Dentists’ Guide to Managing Money appeared first on Martin, Bircher, Thompson, PC ..read more

As a healthcare professional, we know your number-one priority is caring for your patients. Nonetheless, don’t add to the stress of the holidays by letting your accounting and bookkeeping fall by the wayside.  Review this straightforward end-of-the-year accounting checklist and make sure you’re on track for a successful and organized new year. Fulfill Invoices and […] The post Year-End Tax and Accounting Tips for Healthcare Practices appeared first on Martin, Bircher, Thompson, PC ..read more

Regardless of the size of your professional practice, implementing proper internal controls is crucial. Some might argue that laying out a clear process for internal controls is even more important for small dental or medical practices.  With that in mind, let’s start with the fundamentals. What are internal controls, exactly? [Related: Bookkeeping Tips for Healthcare […] The post Internal Control Checklist for Medical and Dental Practices appeared first on Martin, Bircher, Thompson, PC ..read more

In a recent survey, under 35% of small business owners stated they’d offer their employees a retirement plan. Based on that number, offering a quality retirement plan can help ensure your dental practice attracts solid staff members who value this key benefit. Before you choose a plan, consider the following factors: Your personal retirement goals […] The post How to Choose the Right Retirement Plan for Your Dental Practice appeared first on Martin, Bircher, Thompson, PC ..read more

Bookkeeping for medical or dental practices can be an intricate process that requires a lot of attention to detail. Falling behind or putting it off until the end of the year can yield disastrous results.  That’s why it’s important to place special focus on healthy bookkeeping practices consistently — all year long. Here are some […] The post Bookkeeping Tips for Healthcare Practices appeared first on Martin, Bircher, Thompson, PC ..read more

Although it may not seem like it at first glance, health care accounting is more complex and can require specialized knowledge when compared to general accounting duties. So as a medical professional, what should you look for when hiring the best accountants for medical professionals? Here are some of the best qualities to look for in […] The post The Best Accountants for Medical Professionals: What to Look For appeared first on Martin, Bircher, Thompson, PC ..read more

A dental practice transition occurs when an existing practice takes on a new professional who brings their patients onboard, or when a dental practice owner decides to sell their practice. Having a smooth dental practice transition is crucial for everyone involved. Nonetheless, no matter how much planning you put into it, a dental practice transition […] The post Guide to Successful Dental Practice Transitions appeared first on Martin, Bircher, Thompson, PC ..read more

Dental school prepares dentists for all types of scenarios … except the accounting necessary to run a dental office. When many dentists choose to open their own practice, they soon realize they have another learning curve to cover. Like other businesses, every dental office encounters its own unique challenges in its accounting systems. And how you handle those challenges can lead to your office’s success or failure. The post 4 Accounting Issues for Dentists We See Again and Again appeared first on Martin, Bircher, Thompson, PC ..read more

If you’re losing sleep over your practice’s financial health and finding yourself stressed about numbers when you should be focused on running and growing your practice, you should probably consider hiring a dental accountant. You’ll need to find a good CPA with experience in the industry to organize and present your financial data unless anyone […] The post The Best Dental Accountants: What to Look For appeared first on Martin, Bircher, Thompson, PC ..read more