FGMK's Health Care Practice is a robust practice of accountants and consultants providing technical tax and accounting services as well as entrepreneurial business advice. Our Health Care Practice is a cornerstone of FGMK and the firm is proud to say Health Care was the industry the firm was built upon over forty years ago. FGMK was on the cutting edge before most accounting firms in recognizing that the Health Care Industry required accounting professionals that specialize in this unique industry.
In addition to FGMK's Health Care Practice professionals being Certified Public Accountants, they are also Certified Healthcare Business Consultants which, similar to the CPA certification, requires qualified training, certification and on-going continuing education. This certification demonstrates our commitment to bring the highest level of expertise to our health care clients.
Our greatest contribution to our health care clients is our health care experience and our ability to advise them on strategic planning, compensation packages, billing and collection strategies, as well as the personal implications of the business strategies they choose. We can help with special projects designed to inform, increase profit and streamline operations.
FGMK's Partners in its Health Care Practice are noted in the industry and write articles and speak on many topics of concern related to ways to improve the business of health care.
The typical services FGMK performs for its health care clients include:
- Accounting assistance
- Income tax compliance and planning
- Audit, Review and Compilation of financial statements
- Establishment and monitoring of internal controls
- Fee schedule analyses and payor contract profitability reviews
- Practice benchmarking against local and national practice groups
- Physician productivity and compensation plan design and implementation
- Feasibility studies
- Forecasts and projections
- Billing and collections evaluation and benchmarking
- Assistance with contract negotiations
- Practice start-up services
- Design of monthly financial reports and metrics to monitor results on an analytical basis
- Structure and implementation of provider compensation plans
- Creation of employee incentive programs
- Identification of appropriate physician expense reimbursement policy
- Operational and financial control studies