Ray CPA, P.C. provides tax, accounting, and financial services to doctors, dentists, and other healthcare professionals. There are several tax and accounting rules particular to the healthcare industry that other accountants and CPAs may not be aware of. Our experience ensures that you won't pay any more in tax than is required under federal and state law. 

For example, there are several complicated issues related to the Texas Franchise Tax that we will make sure to utilize to your advantage such as:

  • Revenues from Medicare, Medicaid, and TRICARE, the Children's Health Insurance Program (CHIP), and workers' compensation commercial insurers or managed care plans are excludable
  • Uncompensated care can be valued at cost basis using the ratio of cost to charges, and includes compensation expenses.
  • Co-pays and deductibles are excludable as part of the revenue from government programs.
  • Expenses attributable to excluded revenues can be deducted.
  • Partial payments do not render a service ineligible for the uncompensated care exclusion.

We simplify the complexities of healthcare financial management—so you can focus on the business of healthcare.

Let us help you manage the complexities of your healthcare financial management systems with robust general ledger and powerful reporting capabilities that integrate with the other systems you need to run your business. Gain visibility into the health of your entire operation and make better, faster decisions—speeding reimbursements, slashing bad debts, and identifying revenue and profit opportunities.

Make sure every stakeholder has timely access to the latest information with flexible reporting that enables you to see financial data for each location, staff member, patient, payer, or any other key information—as well as consolidated reports—right from within our World Class cloud based accounting system. No need to run Excel spreadsheets outside your accounting system.

Improve overall performance with real-time operational and financial visibility.

We can align healthcare and financial management systems by creating and reporting on an unlimited number of key performance metrics —such as revenue by bed or by patient, by staff member, by payer, by facility, or any other key information you use to manage your organization—to see what's performing well. Then you can share revenue enhancing programs or services with other locations, and eliminate the less profitable services programs—improving the performance of the entire organization.

Put an end to running and compiling numerous Excel spreadsheets with real-time, customized role-based dashboards —by location or location groups, by doctor, by owner, or any other metrics—and rich reporting and analytics you access from within our system.

Make sure you’re billing for the right services.

We streamline healthcare financial management by enabling you to tag each service, eliminating incorrect coding—ensuring faster reimbursement.

Maximize revenue, minimize bad debt expense, and improve forecasting accuracy by tracking 100% of services rendered—from invoicing every billable transaction to proactively managing costs. Quickly and easily customize your invoices to match your organization’s brand starting with out-of-the-box templates. Properly account for income, expense, and profits across complex corporate, operating, and tax structures.

Stay within your strict budgets.

Improve cash flow management and revenue forecasting with real-time visibility into current inflows, outflows, and revenue streams. Always know where you stand

Add entities seamlessly as you add facilities, locations, or business units.

Let us help you improve the performance of your overall operations with robust, consolidation capabilities. Put an end to manual consolidations across multiple instances of QuickBooks. Keep an eye on the financial health of your overall business, as well as individual facilities or departments, One-click consolidations enable you to see what’s going on at any time—quarterly, monthly—even daily. Plus you can drill down to subsidiary source transactions, real time receivables and payables.

Seamlessly integrate healthcare financial management with the rest of your business critical applications.

Save money and reclaim time spent troubleshooting third party software with pre-built integration to leading applications. Link to leading patient management, insurance reimbursement, asset management, payroll, and bill payment applications. Future-proof your investment with us by using open web services to connect to on-premises or cloud-based applications you’re using now or considering in the future.

Ensure world-class security, governance, compliance.

Rely on an efficient, secure environment for sharing confidential healthcare financial management information with employees or business partners—inside or outside the firewall. From our professional enterprise-strength infrastructure, to tier 1 data centers, backup and disaster recovery services, rapid response, and third-party certifications, we address all your security demands. 

 Take advantage of support for sophisticated security and internal controls, and a robust audit trail. Support evolving regulatory compliance rules for, GAAP, and Sarbanes-Oxley.

Dramatically reduce IT costs.

Take advantage of our cloud-based system and provide each of your facilities with secure access to up-to-the minute information from a web browser—at any time, from anywhere.

Avoid purchasing and supporting servers, or other IT hardware, and infrastructure at your locations—as wells as hiring IT staff to manage the system. Eliminate the need to acquire, house, and maintain redundant equipment to ensure security, reliability, and scalability. Let us manage all application maintenance and upgrades—saving dramatically in IT personnel costs.

Deploy in weeks—compared to months for the typical on-premises application—for rapid return on investment.

If you could benefit from the guidance of a CPA firm with a background in assisting the medical profession, please contact us today. We know you're busy, and will be glad to send a Certified Public Accountant to your office at a time convenient for you.