Healthcare

Providing high-quality care is the clear priority for any health organization. To achieve a measure of excellence, you invest in new technology and equipment and expand targeted services for wider community access. All of this investment requires profits and working capital. And to be profitable requires making good financial decisions.

K·Coe Isom’s CPAs and consultants work closely with rural hospitals, physicians, and ancillary service providers determining ways to maximize your reimbursements, fund capital expenses, and extend your financial resources to sustain profitable growth.

Rural Hospitals

Rising cost of care and decreasing reimbursements, coupled with a shortage in primary care physicians and clinicians, push many rural hospitals to seek operational efficiencies and cost savings. Among the most significant employers in small towns, and essential community servants, rural hospitals are compelled to stay viable. With 40+ years serving rural hospitals, K·Coe Isom is passionate about strengthening your facility’s current performance and preserving your future. As a resource, K·Coe Isom pays for itself.

Physicians

Successfully managing your physicians practice means balancing productivity with finances. Keeping a pulse on income and expenses, overall and by doctor, helps you determine when there’s enough capital to purchase new equipment and ensure smooth cash flow for monthly expenses. Well-versed in the language of medical practices—physician charges, explanation of benefits, medical billing coding—we delivery worry-free tax and financial reporting, accounting support, fraud-prevention guidance. Solidify your practice with knowledgable experts from K·Coe Isom.

Ancillary services

Ancillary services are an integral part of the provider network, allowing patients to access diagnostic, therapeutic, and custodial care at a more reasonable cost. Complex rules and accountabilities for home health services, imaging centers, diagnostic laboratories, and other ancillary care facilities increases the importance of strong record-keeping and management. Keeping an eye on your organization’s financial health requires an ongoing, in-depth awareness of your assets, liabilities, and equity. At K·Coe Isom, we walk you through what those numbers really mean and help you seize opportunities for improvement.

CASE STUDY: Facing declining insurance reimbursements, a five-physician practice wanted assistance maximizing their income. Through helping them identify documentation and make charting and coding enhancements, process improvements led to a 15% increase in profitability.

CASE STUDY: A physicians practice that was about to make a significant investment in new equipment requested our help to determine the best depreciation method. After evaluating the practice’s goals, eligibility requirements, and financial forecasts, we recommended taking depreciation on the first year of the assets. The physicians in the practice received an immediate tax deduction while maximizing the tax benefits of making large purchases in the future.

Contact Bill Peterson at 530.891.6474 and work with the K·Coe Isom Healthcare team to strengthen your financial operations.

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