At Martin, Bircher, Thompson, PC, we provide personalized services and consultation for medical professionals. We recognize that physicians have particular tax and financial needs to ensure the success and growth of their practice — and that directly impacts the well-being of their employees and the patients in their care.
Accounting System Setup 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.
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 or prepare physician compensation reports on a quarterly, tri-annually, semi-annually or annual basis depending on your needs. 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, and more 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 and competitive. We’ll also consider buy-in objectives for current associates that may become owners down the road.
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.
Are you starting your own practice? If so, we are available to assist with:
- Entity selection and setup
- Compensation design for multi-owner groups
- 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 benchmark key financial aspects of your practice to help assess your practice’s performance and identify opportunities for improvement.
Office Procedures and 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 Setup
You will need to establish a retirement plan in order to stay competitive in today’s market and accumulate tax-deferred savings for retirement. 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 for your staff.
- Identify the right time to implement your plan.
Everyone wants their office staff to be engaged, satisfied, and driven. However, this is easier said than done.
We can help discover and address issues that may be hindering your office staff from performing at peak levels and toward common goals.