Medical

Medical Practice CPA Firm

ZR Associates offers expert accounting and financial services tailored to medical practices. Our team of experienced CPAs, tax specialists, and consultants understands the unique challenges faced by healthcare professionals. We work with a variety of practices, including cardiologists, radiologists, MRI centers, dental groups, nursing practices, and pediatric groups. With a deep understanding of the healthcare industry, we provide strategic business solutions that help reduce costs and maximize profits, enabling practices to achieve long-term success.

ZR Associates’ tax planning and preparation services go beyond merely filing annual returns. We are committed to providing year-round tax strategies designed to optimize your financial health. Our healthcare-specific expertise allows us to identify tax-saving opportunities and ensure that your practice takes full advantage of every available incentive. By working closely with your practice, we aim to minimize taxes while meeting your financial objectives.

At ZR Associates, we believe in gaining a thorough understanding of your operations, tax elections, and methods. This approach enables us to not only prepare accurate and complete tax returns but also identify the most effective ways to save tax dollars. Our team continuously monitors legislative changes, reviews existing elections, and proactively identifies opportunities to amend returns when beneficial.
At ZR Associates, our tax professionals are proactive and strategic thinkers focused on maximizing your after-tax cash flow. We believe in customized tax planning that aligns with your business objectives and personal goals. Our services include:
  • Federal, state, and local income tax planning and return preparation
  • IRS and state audit representation
  • Strategic tax planning for business owners and high-net-worth individuals
  • Estate and gift tax planning
  • Executive compensation consulting,/li>
  • Mergers, acquisitions, divestitures, and due diligence
  • Revenue-focused Practice Analysis

    We work closely with your practice administrator to prepare detailed customer reports. These reports help doctors and administrators manage and plan effectively, ensuring revenue maximization for your practice.

    Advisory Consulting and Compensation Plans

    ZR Associates assists in structuring compensation plans tailored to motivate associates and allow equity principals to achieve their desired profit margins. We also provide advisory services on:
  • Cost-cutting strategies
  • Financial implications of healthcare legislation
  • Lease negotiations
  • Medical Practice Benchmarking

    Our benchmarking service includes a thorough analysis of your annual financial statements. We prepare and present a detailed report that explains the underlying data driving the performance of your medical practice.

    Benefits Consulting

    Through Strategic Capital Advisors, we offer guidance on employee benefit programs, including:
  • 401(k) plans
  • Pensions
  • Profit-sharing
  • Cafeteria plans
  • Review/Analysis of New Doctor Agreements and Compensation

    We review new doctor agreements to assess their cash flow impact and create budgets that help new doctors track their progress and productivity.

    Practice Management and Medical Accounting Services

    We provide support for practice managers by:
  • Maintaining accurate books and records
  • Addressing cash flow requirements
  • Complying with bank reporting and covenant requirements
  • Reconciling medical billings and collections with accounting systems
  • Customizing charts of accounts and departmental reporting for better management
  • General Accounting and Financial Statement Preparation

    Accurate and timely financial statements are critical for effective business management. At ZR Associates, we go beyond standard accounting software, staying ahead of tax law changes and emerging technologies to improve profitability, cash flow, and business opportunities.

    Outsourced Accounting, Bill Paying & Administration

    Whether you need help producing monthly financials or require full outsourcing of your accounting function, ZR Associates provides:
  • Timely, professional accounting support
  • Enhanced decision-making capabilities
  • Improved banking relationships
  • Relief from the burden of maintaining internal accounting teams or investing in costly software