Blog

Imagine a bustling medical practice—patients in every room, phones constantly ringing, and staff working tirelessly to keep things moving. Yet, behind the scenes, 30% of their revenue remains tied up in unpaid bills overdue by more than 90 days, according to the...

Did you know that the average cost of data breach for companies is $4.88M in 2024, a 10% increase over the last year? As data breaches become more rampant, cybercriminals seek to exploit vulnerabilities and gain unauthorized access to valuable data. Unfortunately,...

In today’s complex financial landscape, many businesses struggle to manage their finances effectively. A recent survey found that 60% of small business owners feel they need more financial management knowledge to help uncover potential savings for their practice....

Imagine you're about to give your clinic exciting new opportunities. You have clear goals, projections, and a vision for growth. However, your plans could easily fall apart if your cash flow management is poor. In fact, a U.S. Bank study found that 82% of small...

Closing the books of your practice each month can be dreadful. The process is bogged down by tedious, error-prone, and time-consuming manual tasks. On top of that, healthcare accounting is no easy puzzle to figure out. Financial data in healthcare is riddled with...

The annual number of ransomware attacks on US healthcare providers has doubled over the last five years, according to a JAMA Network study. These cyberattacks cut across patient data and privacy, operations, billing cycles, etc. They expose the stark fact that the...

Let’s get real: The number of trained accountants is dropping. According to CNBC, fewer college students are graduating with accounting degrees. The number of students completing bachelor's degrees in accounting dropped by 7.8% between 2021 and 2022, with a consistent...

The concept of outsourcing accounting services is becoming less shrouded by healthcare practices’ apprehension. Thanks to increased awareness of the benefits of outsourced accounting services, from saving money to freeing up staff time, more providers are enlightened...

For business owners, the management of finances may seem relatively simple. With compressed resources, however, it can be more challenging. You need to project cash flow, stay on top of monthly account reconciliation, and prepare for tax season – among other...

The financial success of your practice depends on your bookkeeping, accounting, and finance. While they may seem associated with one another, some key differences exist in these activities. Outsourcing bookkeepers, accountants, controllers, and CFOs can be tricky due...