FINANCIAL SERVICES

The first step on the path to a fiscally healthy practice is establishing and maintaining an accurate accounting of your financial records. The appropriate bookkeeping setup is essential in streamlining your practice’s operations, creating efficiencies, and containing costs. At Entrustment Health, our financial reporting team will put the appropriate processes in place, provide access to reports that enable you to steer your practice in the right direction, and help you maintain access to crucial practice data.

While it’s rarely anyone’s favorite activity, the preparation and filing of taxes on a timely basis is one of the most important financial transactions for any practice. Late, incomplete or inaccurate tax filings can subject medical providers to heavy financial penalties and, in some cases, criminal charges. Inaccurate estimates of future tax liabilities can put your practice’s financial stability at risk.

Your Entrustment tax professional is familiar with all state and federal requirements for tax preparation and reporting, and can help you navigate complex tax laws and regulations to minimize your tax burden.

An accurate practice valuation is required in a variety of scenarios: when a new partner is buying into your practice, you are establishing buy-sell agreements with your business partners, you are applying for a loan, or are attempting to sell your practice.  Your Entrustment Health valuation expert can help you develop accurate, timely valuations for:

• Partner Buy-ins
• Buy / Sell Agreements
• Loan Applications
• Practice Mergers
• Practice Sales

Having access to capital when you need it is a must if you want to propel your practice forward. Your practice’s future can literally depend on it. Entrustment can help you acquire funding for:

• Equipment Purchases
• Business Acquisitions
• Real Estate Development
• Facilities Purchase
• Office Construction
• Lines of Credit

We will walk you through your financing options, help you write a business plan for your practice, and apply simultaneously to multiple lenders with whom we have already have established relationships.

Federal or state grants can be a great way to expand your practice while minimizing financial risk. Medical access shortages experienced throughout rural areas have led to several grant opportunities opening up for practices looking to expand into those regions. Grants may also be available to recruit the right people to come to your area. Other grant opportunities can assist medical students looking to reduce their educational loan debt while in a residency.

The grant specialists at Entrustment Health can help you to:

• Identify Funding Sources
• Develop and Submit Grant Proposals
• Assemble and Report Required Data

Entrustment Health can work with you to ensure the right grant opportunity is pursued as well as handle the application process for you, saving you time and maximizing your chances for success.