As a medical practitioner or medical business owner, your concerns regarding your practice’s accounting services largely revolve around smooth, safe processes that are done by the book. In the highly regulated medical industry, there is little or no room for error, delay or events such as patient data loss.
A full time medical practice takes time and effort and we understand that!
The Australian Medical Association’s study on working hours of doctors revealed that more than half of them were either working too many hours in the week or in unsafe conditions. This was in 2016 and not much has changed since then.
What did happen however, is that specialized professionals backed by technological advancement began handling non-core business activities such as Accounting for the medical industry. This meant that medical owners or doctors no longer had to overlook every accounting detail, looking out for inefficiencies. It also meant that most accounting functions were automated which reserved more time towards the actual practice and core competencies.
That is when we launched MLPC (ML Private Clients) – A dedicated accounting services company for Medical Practitioners that can handle all your accounting needs.
How we are helping Medical Practitioners with their accounting
Our approach towards assisting the medical fraternity is to utilize technology in the best way possible. We employ the latest in Cloud Software to take care of all accounting functions ensuring advanced business efficiency levels.
Our proactive accounting uses Cloud based IT software to streamline your business operations and offer all managerial accounting services. It is capable of providing you with data and reports on finance and statistics about your business. These enable medical practitioners to make accurate business decisions. It also facilitates your day-to-day functioning.
The Virtual CFO application assists both owners and investors of medical practices, working closely just as a physical CFO would. But unlike regular financial advisors whose deliverables are limited to end of the year financial reports, the Virtual CFO works 24×7!
As a result, we are able to provide vital data such as Key Performance Indicators spanning every aspect of the business. Concern areas are highlighted. We then work together with our medical clients to find the best solutions to any identified business problems, and overcome these, successfully.
Our Family Office service was created to cater to medical business owners who never had the time to plan their finances towards achieving certain personal objectives.
We realized that though doctors and medical businessmen were in the higher income brackets, their net wealth was not as high as it should be. This was purely due to bad or lack of financial planning.
The Family Office works as a close advisor to create and maintain a healthy and complete financial strategy that takes care of all your family’s needs. It defines a plan that saves you money, allots in the right places and ends up increasing your net worth considerably.
Our online Wealth Portal is a safe place where your financial information is stored for you to access whenever you desire. You will receive real-time snapshots of your financial health, to be able to make certain decisions which we will advise you on.
The KPeyes Reporting app is considered to be one of the most powerful and effective reporting systems designed for any medical business. It assists general practitioners, specialists, allied health specialists and all other members of the medical field.
Created by Medical Specialist Accountants and Business Data Analysts, this application is a revolution in the medical sector. It is changing the way medical businesses work and for the better.
KPeyes identifies Key Performance Indicators. These are the vital statistics related to the success of your business. In the health or medical industry, they could include Average Patient Waiting Time, Staff to Patient Ratio, Number of Trainings Per Department etc. Based on such parameters, reports are created towards improving the business.
The KPeyes’ expertise lies in the ability to analyze business-related data to arrive at the best possible solutions. Our Virtual CFO utilizes KPeyes findings which we communicate to business stakeholders.
This reporting application is ideal to change your approach towards your business and get a deeper insight into increasing efficiency and boosting profitability.
MLCP – Backed by Experts
In an attempt to offer our clients the highest quality of accounting services, we work with a vast team of financial experts and advisors. It is this partner network that keeps us up – to – date, and you, worry-free to conduct your medical business.
Do contact us today to discuss the accounting needs of your medical business. We would be happy to assist!