How To Know When It’s Time to Hire A Medical Accountant

Running a private medical practice can become an incredibly daunting task without the proper staff and equipment. When you thought about opening your own practice you knew there would be a lot to it.

You probably spoke with colleagues about the process and possibly had some connections for your office staff. Yet even with all the advice and support, growing and maintaining your private medical practice is becoming unsustainable in its current form.

If only you could just be a doctor.

That’s why you became a doctor, to practice medicine, not run a business and everything else that come with that.

So, how do you know when it’s time to hire a medical accountant?

  • When you are feeling “over it”,
  • When you start to feel the business side is becoming out of control,
  • When you want to have peace of mind,
  • When you want to know that your tax is handled,
  • When you realise the savings an expert can make for you that you are likely to miss when you ‘do it yourself’.

When you hire a Medical Accountant, these are just some of the things you can stop worrying about.

 

Finding the best medical insurance for your practice

A Medical Accountant is familiar with the many options and policies available to doctors. Learning about them on your own takes a lot of time and mental bandwidth – Both of which you are probably already short on.

 

Keeping up with the tax laws

You work hard for money. Ensure that you don’t pay more in taxes than you need to. A Medical Accountant will be more aware of the latest changes to the tax laws than you or your office staff. Taxes are a serious matter. Hire a Medical Accountant and let them take some of the pressure off.

 

Properly managing cash flow

A Medical Accountant can look at the big picture of your private medical practice. Your office manager may only be handling part of it and might not be able to see where there is room for improvement or cost savings. When you hire a Medical Accountant, your investment can pay for itself with the money you can save and better business practices than can be put in place.

Plus it frees up your time for more billable hours.

 

Planning for the future

When you hire a Medical Accountant you have an expert on hand to talk through your ideas for the future of your practice.

A Medical Accountant has experience with the medical industry that a regular accountant does not. A Medical Accountant has experience with other private practices that have been in all stages of growth – From opening their doors to being ready to hire more staff, a Medical Accountant can best advise you during all stages of your business.

 

If you feel it’s time hire a Medical Accountant, we would be happy to talk to you.

Contact us at 01233 627 339 or by email at enquiries@accountsunlockedfordoctors.co.uk.