When you’re saving lives as a doctor, you shouldn’t be worried about managing the day-to-day finances of your medical office.  If your medical business is dying, you’ll want to call somebody who can help provide you with real solutions.

That’s why we have bookkeepers. Medical offices may be healthcare facilities, but they are also businesses. You’ll need professional virtual bookkeeping services to help maintain your medical business so that you can prioritize what matters most. Keep reading to find out how virtual bookkeepers can be a lifesaver for doctors.

Why Do Doctors Need Bookkeepers?

Every healthcare facility needs to create revenue to keep its doors open. If you’re a doctor who runs your own medical office, you know all about the operating expenses. You need a professional to manage your day-to-day financial records from rent or mortgage payments to payroll. Skipping this step can lead to severe problems for your business.

If you don’t have a bookkeeper on your team, you could develop a cash flow issue in your accounts receivable department. After you treat patients, somebody needs to bill them and submit claims to health insurance companies. Your office needs to be paid for the services it provides and a bookkeeper can help all of these tasks flow smoothly.

This process between patients, providers, and healthcare companies is called Cash Flow Management. If you don’t have a professional bookkeeper on your team, everything from billing to collections can be mismanaged and impact the revenue of your business. That’s not the only problem doctors’ offices could face without a bookkeeper on their team.

While your office collects patient information like their name, address, and telephone number, their records will also contain important information needed for billing. Bookkeepers organize essential information needed to collect payments including insurance and co-pay information.

Most offices ask patients to update their information annually since that’s when most health insurance policies are renewed. However, there are some circumstances that lead to people changing or losing their insurance. A bookkeeper will help you avoid losing out on payments by managing these updates while keeping track of the appropriate co-pays needed for appointments.

No matter how big or small your medical office is, at some point, you will need to hire help. That means you will need to organize and process payroll. This is a time-consuming process that requires day-to-day organization at the hands of a professional.

A virtual bookkeeper is well versed in the latest technology that will help you create and maintain the payroll structure in your office. While some medical offices may feel they are managing just fine without bringing a bookkeeping professional onto their team, this type of back-office support can help take things to the next level.

Can Virtual Bookkeepers Transform Your Medical Office?

The short answer? Yes! A virtual bookkeeper will improve your overall office operations and efficiency. You need to account for every dollar that comes in and out of your office, and a bookkeeper will help you do just that.

This finance professional will keep track of profit and loss statements that will ultimately show you the things that are making your office successful or creating a bottleneck in your growth. Do you need to invest more money into an area of your medical office or find ways to cut costs? A bookkeeper will give you all the data you need to make those important decisions.

Having a professional bookkeeper on your side will help you have a system to account for every financial transaction needed to run your medical office. This level of organization helps you prioritize your patient’s care instead of shuffling through receipts and statements when you need to.

A bookkeeper may also help improve your collaborations with other medical professionals. Whenever you refer patients to another office like a testing facility where they won’t be billed, you’ll need this information recorded. This will ensure that the insurance company is billed correctly and the medical professional you referred your patient to also receives their payment. Maintaining these positive relationships can help promote cross-collaboration where other professionals will feel confident in referring their patients to you.

While a bookkeeper will transform your office with their organized systems and data, they will also improve your overall patient satisfaction.  When a patient frequents a medical office and has to deal with consistent billing errors, they are not likely to recommend that facility to family and friends. An organized bookkeeping professional can help avoid any unnecessary billing errors to keep the focus on the patients’ health and well-being.

By now you know you need a bookkeeper, but how are you going to find a professional and reliable service that meets your needs?

How To Find A Bookkeeper For Your Office

Are you ready to take your medical office to the next level? You don’t have to hire in-house professionals through expense firms anymore. All of your needs can be met through virtual bookkeeping services that cut down on operations costs.  Our Bookkeeping Team does all the heavy lifting for you, vetting some of the best experts in the industry to meet your accounting needs.

Whether you just opened a medical practice or need someone to help get your office back on track, Our Bookkeeping Team can help you improve your back-office system. This team of CPAs, ex-auditors and virtual controllers supplies a range of affordable services like online bookkeeping, inventory accounting, accounts receivable and collections, accounts payable and bill payment, payroll services, and so much more.

Our Bookkeeping Team provides flexible nationwide services to accommodate your budget no matter your location. It’s time to focus on what’s important, your patients. While you save lives, let Our Bookkeeping team save you time and money. Call Our Bookkeeping Team today at 213-468-8316 to get started.