Healthcare is at the heart of every community. While you bear the responsibility of serving and stabilizing your local economy, the industry is in a constant state of change—from the volume and complexity of regulations to value-based reimbursement—guidance from insightful business advisors will help you decrease the administrative burden you feel and better your community.
The healthcare industry is facing some very real challenges. Balancing patient needs and expectations while managing overhead costs is a constant point of friction. Margins are strained in an environment where growth of costs are outpacing the pace of revenue growth. But what if there was a way to deliver highly efficient care without compromising quality, while insuring you receive appropriate payment for the care you provide? The solution is in your data. Over 60% of your healthcare budget is made of human capital and supply chain costs. With the right technology and financial guidance, you can take charge of your operational costs, get paid appropriately, and improve your patient satisfaction.
Managing revenue cycle is a critical function to ensure providers receive appropriate and timely payment. You are tasked with operating your healthcare organization efficiently and profitably, while remaining compliant and secure. It is an immense challenge for any industry, but healthcare has its own unique and often complex issues to be vigilant about given its complex regulatory structure.
That’s where a trusted advisor comes in. Eide Bailly serves the healthcare industry because we genuinely enjoy supporting others so they succeed. We bring our clients sustainable solutions that help their organizations improve. Our focus goes beyond traditional accounting services with an emphasis on enhancing value with each of the solutions we provide.
"Art Wiederman and his team have done an incredible job during this financial disaster (COVID-19). He has dug down to provide all his clients with the clearest and most up to date information. He then presents it in a straight-forward fashion that helps us make the best decisions based on our situation. I am not exaggerating when I say I am way ahead of the pack of my dental colleagues with information that is correct and up to the minute."
Transform your healthcare organization with a team of professionals who understand and have been in your world.
Whether you oversee a large integrated health system, critical access hospital, medical practice, dental office, health system, or senior living community, our firm’s advisors can help you address and overcome the unique challenges your organization faces. With a wide array of professional services, all in one firm, and over 40 locations to support you, there’s no need to shop around. We strive to support you and your organization with solid communication and streamlined, clear and proven processes.
Our advisors have in-depth knowledge of the healthcare industry as our team is comprised of former CFOs, office managers, revenue cycle leaders, RNs and other medical specialists. Some have built their CPA career on a specific healthcare segment, such as our dental-focused CPAs, rural health care specialists, and health system advisors. Regardless of your organization’s niche, we have over 300 professionals dedicated to help you improve your efficiency, productivity and profitability.
For more than 100 years, our team at Eide Bailly has been advising on all aspects of compliance and organizational profitability. We offer our clients a wide array of services to maximize their efficiency and cash flow. You’ll find everything you need for all aspects of your organization. This includes tax planning, audit and assurance, business outsourcing and strategy as well as a wide variety of invaluable consulting services.
Eide Bailly’s healthcare group provides these professional services:
We can provide you with more certainty during challenging times so you can better care for your community. Our healthcare advisors will guide you with the right insight and expertise while you continue to provide excellent care to your patients, drive results and plan for a strong future.
We also provide critical access hospitals peace of mind with 340B Compliance Review so they maintain eligibility. With our advisors’ help, you can also effectively complete your Community Health Needs Assessment (CHNA) process along with many other consulting services.
We provide a suite of services dedicated to the total care of your practice. Allow our team of dental-specific advisors to manage every aspect of your business, while you continue to treat your patients. We’re also proud to share dental business best practices with our podcast The Art of Dental Finance and Management with Art Wiederman, CPA.
Health systems experience a changing landscape driven by regulatory changes and market forces. Consolidation in the marketplace, accountable care organization development and disruptive innovations make it difficult for the most sophisticated systems to stay ahead. Our experienced business advisors can help you manage risk and navigate these challenges, so that you can operate more effectively and efficiently.
As a medical practice, it can be challenging to find time to oversee and manage the business aspects of your practice. We make it possible for you to deliver quality care while maintaining integrity and maximizing profits. With the support of our knowledgeable advisors, you can continue to focus on meeting your patients’ needs.
Senior living facilities play a vital role in the healthcare industry. The changing landscape of regulatory compliance and rising costs means facilities face operational concerns and limited financial resources. Healthcare professionals understand, and they can assist you with reimbursement challenges, operational process improvements, financial feasibility forecasts and more.
We help audiologists and hearing aid specialists throughout the U.S. with the daily financial details of their practices. Our professionals are well-versed in the financial and tax challenges you face. From analyzing KPIs to integrating patient management and accounting systems and more, our team is ready to help your practice grow with confidence.
understand the complexities of operating a successful revenue cycle
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Take the step towards greater efficiency and profitability.