Accounting for Healthcare Services
The term “Healthcare” no longer focuses on patients and medicines alone, but also on numbers. The growing technological innovations like robust electronic health records (EHRs) and data analytics yield efficiencies in terms of medical institutions’ operational costs and patient billings.
Healthcare is a dynamic field where changes are inevitable. Since healthcare and economic growth are connected, the field is prone to rapid changes. The healthcare industry also faces a myriad of challenges because the economic interference is enormous. Every single change in the economy has some impact on the healthcare sector.
These complexities in the healthcare sector call for the need for professional accounting services. Healthcare accounting is becoming an increasingly dynamic profession and that requires an expert to have a deep understanding of the industry. Everything adds to the healthcare accountant’s role–from analyzing the staff needs and healthcare processes to understanding customers’ expectations.
Accounting Frameworks for Healthcare Industry
Our team of experienced tax and accounting professionals is ready to help your healthcare facility achieve the financial success it deserves.
The construction industry faces a unique set of challenges that many other industries do not such as insurance and bonding requirements, labor issues, and a highly competitive bidding process–all of which vary from contract to contract.
If you operate a construction management firm, or are a general contractor, subcontractor, residential developer, or own a business in the construction-related trades, you need an accounting firm that understands your business.
Competitive and cyclical in nature, many restaurants and hotels operate on a slim margin subject to the whims of tourism trends, weather, and other factors beyond anyone’s control.
From assistance with financing options to structuring “the deal” and projecting revenues, it’s vital to use a tax and accounting firm that understands the financial and operational challenges faced by businesses in the hospitality industry.
From keeping up with the latest dental techniques to hiring employees and payroll and tax compliance, managing a dental practice is more complicated than ever. With the right team in place, you’ll have more time to focus on your patients.
While you may already have an HR professional on staff to take care of that side of the business, chances are you’ve been struggling with the financial side. If so, then maybe it’s time to hire an accounting firm that specializes in dental practices.
For many professionals, time is money — and attorneys are no exception. Whether you operate as a solo practitioner or are a member of a partnership-based law firm chances are good that you simply don’t have time to handle the tax and accounting aspects of your practice and keep your practice running smoothly.
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As your trusted advisor our job is to help you stay competitive. We’ll work with you to streamline your accounting procedures and processes as well as identify opportunities that help you improve your bottom line by reducing operational costs and manage your facilities more cost-effectively.
As a nonprofit organization, you face unique challenges that for-profit businesses don’t, such as the annual submission of Form 990, compliance with (OMB) Circular A-133 requirements or paying taxes on unrelated business income. That’s why it pays to have a dedicated team of tax and accounting professionals that specializes in nonprofit accounting and tax compliance on your side.
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Between managing logistics, upkeep on repairs, an increase in competitors and rising expenses, transportation business operators have their hands full. While the day-to-day may seem overwhelming, we’re here to take some of the load off your plate. Gulla CPA has worked with transportation and logistics clients since its inception, and we’re confident we can help you get organized and give you more visibility into the financial aspects of your enterprise.