Medical & Dental Practices
Insurance payments arrive on their own schedule. We track what's billed, what's collected, and what's written off so you see the real numbers.
The Practice
You went to school for patient care, not accounts receivable management. But running a practice means dealing with both. Insurance companies pay on their own timeline. You perform a procedure today and might not see payment for 30, 60, sometimes 90 days. Meanwhile, rent is due on the first, staff needs to be paid every two weeks, and the dental supply order can’t wait. The cash in your bank account rarely reflects how the practice is actually performing.
The revenue picture gets even more complicated by write-offs and adjustments. You bill $500 for a procedure. Insurance pays $320. The patient owes $80. The remaining $100 is a contractual adjustment that simply disappears. Multiply that across hundreds of patient visits per month and tracking what you actually collected versus what you billed becomes overwhelming. Without clean books, you’re making financial decisions based on numbers that don’t reflect reality.
Who This Covers
Who This Covers
Dental offices, chiropractic practices, optometry clinics, physical therapy practices, and other small to mid-sized healthcare providers across Orlando, Orange County, and Central Florida. Solo practitioners and group practices alike.
What Makes It Difficult
What Makes It Difficult
Multiple insurance payers with different fee schedules and reimbursement timelines. Contractual adjustments that reduce billed amounts before you ever see a dollar. High fixed overhead from rent, equipment loans, and clinical staff. Supply costs that fluctuate. Expensive equipment purchases that need proper depreciation treatment over years, not months.
What We Handle
Revenue gets categorized by payer type so you can see what insurance brings in versus patient copays versus cash-pay visits. Accounts receivable tracking shows what’s outstanding and how long it’s been sitting there. When claims age past 60 days, that’s a signal to follow up with the insurance company or the patient before the money slips away entirely. We reconcile what your practice management software reports against what actually hits the bank account so nothing falls through the cracks.
Payroll is usually the single largest expense in a practice. Hygienists, assistants, front desk staff, office managers. We make sure payroll runs clean and that withholdings are handled correctly. Equipment purchases get capitalized and depreciated properly, whether it’s a new dental chair, an X-ray machine, or a therapy laser. Supply expenses are tracked monthly so you can spot cost increases as they happen instead of wondering at year end why margins feel tighter than last year.
Revenue Tracking and Receivables
Revenue Tracking and Receivables
Revenue categorized by insurance payer, patient copay, and cash-pay. Outstanding claims aged and monitored so they don’t go stale. Bank deposits reconciled to practice management reports to catch discrepancies between what was posted and what was actually collected. You see the real revenue number, not the billed number.
Payroll and Overhead
Payroll and Overhead
Payroll processing for clinical and administrative staff with correct withholdings and timely filings. Equipment capitalized and depreciated on the correct schedule. Supply expenses tracked month to month to identify cost trends early. Sales tax handled for any taxable products your practice sells. 1099s prepared for independent contractors at year end.
What Goes Wrong
The most common problem is not accounting for insurance adjustments. You bill $8,000 in a day and think the practice had a great day. But after contractual write-offs, the actual collectible amount might be closer to $5,200. If your books show $8,000 in revenue instead of what you’ll actually receive, every financial decision that follows is built on inflated numbers. Profitability looks better than it is. Budgets rely on money that will never arrive. You think you can afford to hire another assistant when the real margin says otherwise.
Equipment purchases create another set of issues. A $40,000 digital imaging system is not a $40,000 expense in the year you buy it. It needs to be capitalized and depreciated over its useful life. Expensing it all at once throws off your profit and loss statement and creates problems on your tax return. On the opposite end, small but steady expenses from supply orders and continuing education fees get missed because credit card receipts were lost or transactions never got reviewed. Those add up quietly over twelve months.
Inflated Revenue Numbers
Inflated Revenue Numbers
Recording billed amounts instead of expected collections makes the practice look more profitable than it actually is. Financial reports become unreliable. You cannot make sound decisions about hiring, expansion, or equipment purchases when the revenue number on your P&L doesn’t match what the bank account will eventually show.
Missed and Misclassified Expenses
Missed and Misclassified Expenses
Equipment that should be depreciated over five or seven years gets expensed immediately. Supply cost increases go unnoticed for months. Continuing education, licensing fees, and professional memberships get scattered across personal and business accounts or missed entirely. These errors compound and make tax season stressful and expensive to untangle.
What Changes
You see the real numbers. Revenue reflects what you actually collect, not what you bill. You know your true overhead, which tells you whether adding an associate or another hygienist makes financial sense or just adds cost without enough margin to justify it. Supply expenses are visible month to month, so when your glove supplier raises prices 15% you catch it right away instead of discovering it six months later when you’re trying to figure out where the profit went.
Tax preparation becomes straightforward because the books have been organized all year. Equipment is depreciated correctly. Payroll records are clean. Your CPA receives a complete package and the conversation shifts to strategy instead of cleanup. When you need financing for a buildout or a new piece of equipment, your financial statements are ready to hand to the bank without scrambling to pull together months of disorganized records.
Practice Decisions Based on Facts
Practice Decisions Based on Facts
You know the true cost of running each operatory or treatment room. Hiring decisions are backed by real overhead numbers. Fee schedule reviews are informed by actual collection data, not assumptions about what insurance pays. Growth becomes a calculated move instead of a guess. You can plan with confidence because the numbers underneath are accurate.
Clean Books Year Round
Clean Books Year Round
Monthly financials that are accurate and current. Equipment schedules maintained for proper depreciation. Payroll and tax filings handled on time, every time. When your accountant needs year-end numbers, everything is already done. When a lender asks for financials, you hand them clean reports instead of asking for two weeks to get things together.
Central Florida's Trusted Bookkeeping Firm
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