Certified Public Accountants

Services for Physicians

We are committed to giving you and your medical practice timely, accurate financial information and the highest quality personalized service. We place a high value on open communication and being accessible to answer your questions. You can be assured that MBT will handle your financial information with strict confidentiality under the high standards of the accounting profession.
Our goal is to equip you for success in operating your medical practice. We are here to:

  • Provide you with a solid foundation of proven management and operational tools;
  • Provide training for you and your staff in best management practices;
  • Tailor our services to fit the needs of your practice; and
  • Offer support to assist you in managing your practice according to your own philosophies and values.

Tax Return Preparation & Tax Planning

We will prepare the appropriate year-end personal or corporate income tax returns and also discuss tax planning. Tax planning helps ensure that you anticipate your tax obligations, avoid unpleasant surprises, and take advantage of all opportunities to minimize your overall tax liability. We begin this process with a review of your accounting reports from selected periods throughout the year, and then project your overall tax liabilities for the year based on significant assumptions and/or events such as prior year results, practice trends, a major equipment purchase, or the hiring of an associate. Typically we provide tax planning services one to three times per year.

Accounting Services

Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. To this end, we are available to:

  • Prepare or review bank and credit card reconciliations to ensure all transactions are accounted for;
  • Prepare reconciliation of cash receipts per the general ledger to cash receipts posted to the billing system;
  • Prepare entries to record and allocate revenue by department/location/physician, etc.
  • Record payroll entries and reconcile to payroll service reports;
  • Adjust general ledger for depreciable assets and depreciation expense, notes payable, amortization and other items as deemed necessary
  • Make any additional adjusting entries as required to provide a materially correct trial balance, including general review of transactions posted to ensure consistent classification and proper reporting; and
  • Prepare or review state excise tax reports and reconcile gross receipts to QuickBooks® and ensure sales tax (or use tax) is being paid and reported where applicable for purchases made.

Financial Statement Preparation (Compilation Reports)

The purpose of a compilation report is to assist management in presenting financial information in the form of financial statements. We can prepare your compilation report on a monthly, quarterly or annual basis.

One common financial report is the schedule to calculate physician compensation/draws based on agreed upon documented income and expense allocations (see physician compensation report services below).

Bookkeeping Services

Bookkeeping is an essential task of any business and is the foundation for effective and efficient business accounting. We can help to assure your practice has a good set of accounting records on a day to day basis in order to make required filings efficient and to provide you with records that will help manage your practice. We can provide you with just the right amount of assistance to meet your needs.

Our full bookkeeping services include:

  • Reconciling bank and credit card accounts
  • Filing state and city excise returns
  • Assist with preparation of other annual compliance requirements such as Forms 1099, Personal Property Affidavits, and Unclaimed Property Reports
  • Assist with other routine bookkeeping tasks as mutually agreed upon

We are also happy to provide training to better equip you or your staff with the bookkeeping knowledge needed to maintain an efficient business accounting system.

Consulting Services

Accounting System Set up and Training

Properly structured and well-understood financial reporting software provides a foundation for making smart business decisions. Our QuickBooks® setup and training services are designed specifically to meet the needs of medical practices. We customize your company setup to allow you to easily obtain the financial information that is essential for the many key business decisions you will need to make.

Buy In/Buy Out Consulting

Having a buy-in/buy-out structure that is competitive for recruiting purposes, and that is fair and understood by all members is critical to the success of a physician group. We can help with the design and calculation for this process.

Physician Compensation Report

We can provide assistance to prepare physician compensation reports on a quarterly, tri-annually or semi-annually basis, depending on the needs of the group. We ensure it is calculated consistently with the compensation formula in the ownership agreements. We will also review internally prepared reports if needed.

Compensation Formula Consulting

Having a compensation formula that is understood by all physicians and that will adjust with changes in work schedules, new services, etc. is extremely important to avoid friction within an ownership group. We help physician groups construct a formula that is simple and fair.

Associate Pay Calculations

We help groups set and calculate compensation for associates, making sure pay is fair, competitive and such that if the associate is to become a future owner it ties in to the buy-in objectives.

Practice Planning Meetings

Regular planning discussions with you will deepen our insight into your practice and will help you identify business issues, develop solutions, and seize opportunities. Some of the areas we can help address are financial trends and practice performance, tax planning, and special projects.

Startup Services

Are you starting your own practice? If so, we are available to assist with projections, entity selection and set-up, compensation design (if a multi owner group) and/or setting up your accounting system.

Key Management Report Design and Practice Benchmarking

Do you know how your practice performs compared to similar practices in your area? We can help benchmark key financial aspects of your practice to help assess your practice’s performance and identify opportunities for improvement.

Office Procedures/Internal Controls

Are your internal office systems running efficiently? If not, you may be losing valuable production and/or collections and be vulnerable to misappropriation of funds by office staff. We can help you determine if adequate controls are in place.

Retirement Plan Evaluation and Set-Up

In order to stay competitive in today’s market and accumulate tax deferred savings for retirement, you will need to establish a retirement plan. We can advise you on the various types of plans available and structure a plan that best meets your individual and business needs; help you determine what benefit level you should provide your staff; and identify the right time to implement your plan.

Office Culture

The objective is to have an office staff engaged, satisfied and driven to help their employers succeed. But sometimes there are stumbling blocks to this occurring. We can help discover and address issues that may be hindering your office staff from performing at peak levels and towards common goals.

Contact Us

11400 98th Ave NE Ste 200
Kirkland, WA 98033
Phone: 425-827-3041
Toll Free: 800-822-3041
Email: support@MartinBircherCPA.com


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