The team at HCS provides wide-ranging financial management services tailored to the unique needs of the medical organizations we work alongside. Our skilled team delivers reliable, strategic support to help optimize operations, reduce costs, and promote long-term financial resilience.
General Operations Support
- Perform day-to-day financial services to ensure smooth practice operations.
- Process accounts payable at least once per week for timely vendor payments.
- Provide cash management services, including monitoring cash balances and performing bank reconciliations.
- Verify invoice accuracy and ensure proper coding to general ledger accounts.
- Maintain all source documents for audit readiness and compliance.
- Reconcile discrepancies and monitor daily deposits for financial accuracy.
- Reconcile monthly bank statements to ensure transparency and control.
Reporting & Analytics
- Deliver customized financial reporting tailored to your organization’s goals.
- Identify trends in practice productivity to support data-driven decision making.
- Generate monthly productivity reports for performance tracking.
- Establish key metric tracking framework and provide analytics reporting based on those business objectives.
- Help optimize practice efficiency and minimize operating costs.
Strategic Financial Guidance
- Ease administrative burdens and promote financial resilience through expert support.
- Develop strategies for and analyze physician compensation packages.
- Perform cost/benefit analysis for new providers and services.
- Analyze and generate monthly financial statements for clear financial oversight.
- Assist in developing annual budgets aligned with practice objectives.
Tax & Compliance Support
- Coordinate with your tax accountant to prepare year-end practice tax returns.
- Process 1099 forms and file New York State sales tax, if applicable.