Healthcare professionals must provide patients with the most sophisticated and specialized services possible. Compass East offers a broad suite of services for finance and accounting in healthcare, from clinician-owned to private-equity-owned medical practices. Our solutions enable our clients to focus on what they do best — caring for patients.
The experienced financial team at Compass East strives to help you save time, increase profits, reduce operational costs and manage your business seamlessly. By transforming data into actionable insights, Compass East allows you to provide best-in-class medical services to your customers.
When you use Compass East for your multi-location clinic’s third-party accounting, we will, forecast cash flow, manage bookkeeping and present you with structured financial reports. Our healthcare outsourced accounting solutions use the best practices to support your expansion. Our full range of services — along with deep industry experience — work in tandem with stakeholders like healthcare executives throughout the continuum of care.
Our Healthcare Financial Solutions
Owning and running a multiple-location practice compounds the financial challenges that healthcare practices of all sizes face. Whether your clinic is juggling location number 10 or just opening a second office, the experts at Compass East are steadfast in partnering with you every step of the way.
Our healthcare financial strategy focuses on streamlining your operations across multiple locations, thereby increasing profitability and efficiency. Our team will structure your organization’s management entity and financial operations in a way that is repeatable and standardized to support rapid growth.
We start by brainstorming cloud-based solutions and operations for improved work practices and efficient collaboration. Our team then works through process and system improvements and budgeting before developing board packages, healthcare cash flow management solutions and key performance indicator (KPI) dashboards. Our advisors deliver analytical data and a coherent plan for ongoing sustainability with advanced financial models, scenario plans and growth strategies.
Tailored Healthcare Finance Services
Compass East derives confidence from results based on research and proven success across various industries. Our healthcare accounting services support:
- Clinic owners: At Compass East, we provide financial advisory services for clinician-owned businesses and independent owners in the healthcare sector. Our team offers insight into optimizing personal income via enterprise value and cash flow and train staff on our systems to streamline operations.
- Private-equity-backed clinics: Outsourced healthcare accounting services remove obstacles so you can focus on improving lives through better, more accessible and more affordable healthcare.
Healthcare and Clinic Chief Financial Officer (CFO) Services
Compass East builds a scalable operation via technology — think finance and accounting in a box — that is imitable as you open additional locations. We work with fast-growing, private-equity–backed healthcare services and independently owned clinics to support scaling and maximize profitability.
Compass East uses an approach for new locations to assist with leadership ideas or other facets of doing business.
Additional finance services include:
Process and Systems
We implement integrated cloud-based systems to generate relevant, accurate and accelerated financial reporting. Our process and system solutions extend beyond assessment and analysis to planning and implementation.
Accounting Services
We develop accounting and financial operations for multiple reports and systems. These services include consolidated and multi-location profit and loss (P&L) statements, compliance reporting, payroll, invoicing, accounts payable and accounts receivable.
Financial Forecasting
We help clinics plan for the future with advanced financial models and pro forma statements that guide you through your journey and scenario planning. Our financial projections and cash flow management solutions allow you to track the money that goes into and out of your business.
Our skilled professionals can help you better control your cash flow by planning for future payments, maintaining minimum cash requirements and tracking finances accurately.
We know that bringing complete transparency to the controller with real-time, cloud-based process automation is vital, so we use financial technology and a bottom-up process that delivers a holistic view and scalable solutions.
Financial Reporting
Trend analysis, key performance indicators and dashboards pave the way for confident decision-making within your business.
Our clinic accounting services include key performance indicators KPIs, margins and profitability metrics or consolidation reporting to provide a complete picture of business performance and improvement.
HealthCare Outsourced Finance and Accounting Services
Compass East specializes in finance and accounting solutions for healthcare providers. Outsourcing healthcare accounting services can increase your business‘s profit by:
- Eliminating costs: With fractional healthcare financial accounting services, you will pay a flat monthly rate. Our outsourced finance services eliminate expenditure on software, computers, furniture and other costs associated with hiring and maintaining an in-house finance department.
- Allocating more time to core activities: Outsourcing allows healthcare companies to focus time and resources on functions that directly impact revenue.
Why Outsource Your Finance and Accounting Services to Compass East?
Compass East has had years of experience handling high-growth businesses’ changing financial needs with professionalism, flexibility and ease. Our experts work hand-in-hand with client management teams to develop innovative and specialized clinic CFO solutions that meet client demands.
Our professional advisors and certified public accountants (CPAs) use cloud-based technology to offer personalized services and timely results. Those efforts empower your team’s leadership to perform tasks confidently. We implement streamlined financial processes that contribute directly to businesses’ growth and success. Compass East makes healthcare financial planning easy with:
- A bottom-up approach that implements a cloud based technology stack.
- KPI and cash forecasting dashboards.
- Financial assessments and scorecards in proposals.
