Bookkeeping for medical, dental and therapy practices
SF Business Solutions keeps books for private medical and dental practices, therapists and veterinary clinics: insurance and patient payments reconciled, payroll recorded and monthly reports produced, working from deposit and payer reports rather than patient records.
Plans start at $250 a month.
What practice bookkeeping involves
A practice is paid from several directions: insurance payers, patients, card processors and sometimes financing companies. Deposits rarely match what was billed on the same day. We record deposits by payer from your remittance and deposit reports, reconcile every bank and card account, and keep payroll, equipment leases and supply costs in order.
You get a monthly P&L, balance sheet and cash flow, and at year end we prepare and file the practice's tax return from the same books.
Can a practice outsource accounting safely?
Yes, if patient information stays where it belongs. The books need to know that a deposit came from a payer or a card batch, not which patient was treated. We set up your books so that deposits are recorded by payer and date, and we work from summary reports, not the clinical record.
What HIPAA means for a bookkeeper
HIPAA protects patients' health information. A bookkeeper who never sees protected health information has little to do with it. A bookkeeper who does, for example by handling patient statements or collections, can count as a business associate, and the practice then needs a business associate agreement with them. The simplest way to stay safe is to keep patient details out of the bookkeeping entirely, which is how we set things up.
Therapists and veterinary clinics
Therapists in private practice usually need simple, reconciled books, quarterly estimated taxes and a Schedule C or S corporation return, which we prepare and file. Veterinary clinics run like other practices, with inventory for medications and supplies; animal health records are not covered by HIPAA, but we handle client information with the same care.
How to start
Three steps. The first one is free.
- 1
Book a free consult
A 1-hour call about your books, your software and what you need.
- 2
Give us access
Invite us to QuickBooks Online or Xero and share your bank and card statements.
- 3
We take it from there
Cleanup first if you are behind. Then we close each month between the 5th and 15th of the following month, depending on your documents.
SF Business Solutions is very diligent and responsive. I can tell they are passionate about their work, which I particularly appreciate about them. My project was rather complex but they managed to get it done according to my needs.
Do you do bookkeeping for medical and dental practices?
Yes. We reconcile insurance, patient and card deposits by payer, record payroll and expenses, and produce monthly reports.
Can a private medical practice outsource its accounting safely?
Yes. The key is keeping patient information out of the books. We record deposits by payer and date and work from summary reports.
Do outsourced bookkeepers for medical practices need to be HIPAA compliant?
Only if they handle protected health information, in which case they are a business associate and need an agreement with the practice. We set up the books so patient details are not needed.
What bookkeeping service should a therapist in private practice use?
One that keeps simple reconciled books and handles quarterly estimated taxes. Our monthly service covers both from $250 a month.
Do you do bookkeeping for veterinary clinics?
Yes. Veterinary clinics get the same monthly service, plus inventory tracking for medications and supplies.
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