Bookkeeping for Healthcare

What Is Healthcare Bookkeeping?

Bookkeeping for healthcare is as crucial as providing medical healthcare to patients. Healthcare bookkeeping in the USA essentially involves maintaining financial transactions within your healthcare practice accurately. Healthcare practices generally include hospitals, clinics, and any other medical institutions.

The process of bookkeeping in healthcare industry generally includes:

  • Managing billing
  • Tracking & managing insurance claims
  • Reconciling transactions
  • Maintaining expense records
  • Making sure your practice is compliant with tax laws applicable in your state & county.

What Are Velan’s Bookkeeping Services for the Healthcare Industry?

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Payroll Processing Services

  • Velan's payroll processing services for the healthcare industry ensure accurate and timely compensation for healthcare professionals.
  • We manage payroll transactions seamlessly, including handling various payment methods such as direct deposits, checks, and healthcare insurance payments.
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Accounts Payable & Accounts Receivable Services

  • Efficient management of accounts payable and accounts receivable is critical for healthcare organizations.
  • Velan's services include meticulous tracking of daily transactions, including cash, checks, and insurance payments from patients.
  • Our expertise in handling diverse payment methods ensures a systematic process, reducing the risk of financial errors and discrepancies.
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Tax Preparation Services

  • Preparing tax papers is surely an intimidating task for many healthcare providers. Velan aims to simplify the whole tax preparation process for you.
  • Our experienced bookkeepers in the USA ensure the timely and accurate submission of tax-related documents, helping healthcare organizations fulfill their taxation obligations.
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Bank Account & Credit Card Reconciliation Services

  • Velan's bank account and credit card reconciliation services provide healthcare practices with a clear and accurate overview of their financial transactions.
  • By reconciling accounts regularly, we help you - healthcare managers, track cash flow, identify discrepancies, and maintain financial transparency.
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Financial Reporting

  • Our financial reporting services cater brilliantly to the specific needs of your healthcare facility. We generate comprehensive financial statements, including revenue and expense statements and balance sheets.
  • These reports aid hospital managers in statistical and financial reporting, supporting sound financial and management decisions. We aid in easy decision-making for you with our reporting services.
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Periodic Healthcare Bookkeeping Services

  • Velan offers flexible healthcare bookkeeping services to match the frequency required by your healthcare facility. Whether it's yearly, quarterly, monthly, weekly, or even daily bookkeeping needs, our team adapts to the demands of your healthcare practice.
  • This flexibility ensures that financial records are always up-to-date and accessible, contributing to accuracy and effective decision-making.

What Are The State-Of-The-Art Software Tools Velan Harnesses?

We are able to provide error-free bookkeeping services primarily because of the expertise our bookkeepers possess in utilizing the cutting-edge software. We have been providing quick and easy bookkeeping solutions to our clients that have resulted in increased transparency and accuracy.

Who Do We Serve?

Our Services Include

Hospitals

Bookkeeping for Hospitals

Doctors

Bookkeeping for Doctors

Eye care

Bookkeeping for Eye care

Medical Consulting

Bookkeeping for Medical Consulting

Medical Equipment

Bookkeeping for Medical Equipment

Medical Practices

Bookkeeping for Medical Practices

Chiropractors

Bookkeeping for Chiropractors

Pharmacies

Bookkeeping for Pharmacies

What Is The Importance Of Hiring Outsourced Bookkeeping & Accounting Professionals For Your Healthcare Practice?

Healthcare is an intricate industry; healthcare providers usually have a lot on their plate. Bookkeeping is another intricate aspect of your business that requires laser sharp focus for the sake of accuracy. It can be cumbersome for healthcare professionals to manage everything on their own. Needless to mention, hiring an in-house bookkeeper can be a time-consuming affair.

Here’s Why You Should Hire An Outsourced Bookkeeper

Expertise in Precise

Expertise in Precise Patient Transaction Records

Velan's outsourced bookkeeping services ensure meticulous tracking of patient transactions.

Our experienced professionals understand the intricacies of healthcare payments, including cash, checks, and insurance transactions.

By outsourcing to us, healthcare organizations like yours can rely on our expertise to maintain accurate and transparent financial records.

Expertise in Precise

Strategic
Cash Flow Management

A healthy business thrives on effective cash flow management.

Velan's systematic approach helps healthcare providers collect funds, manage cash flow, and track outstanding bills and debts.

This ensures there are ample resources to allocate to daily operations, contributing to the overall stability of the healthcare system.

Expertise in Precise

Comprehensive
Financial Record Monitoring

Velan's outsourced bookkeeping services provide a comprehensive overview of financial records, including sales, profits, and debts.

By entrusting these tasks to professionals like us, you can gain insights for improved forecasting, confident decision-making, and a streamlined financial process.

Expertise in Precise

Compliance Excellence
with Tax Requirements

Navigating complex taxation and return procedures is simplified through Velan's outsourced bookkeeping services.

Our professionals assist healthcare businesses with timely and accurate tax submissions, ensuring compliance with all obligations.

From managing Business Activity Statements (BAS) to meeting tax deadlines, outsource everything to Velan so you can continue to do what you do best - provide healthcare.

Expertise in Precise

Strategic
Decision-Making Support

Beyond numbers, our outsourced bookkeeping services offer valuable actionable insights to support healthcare institutions in strategic decision-making.

From accurate financial reports to maintaining real-time cash flow status, our outsourcing solutions help healthcare providers with the suitable information needed for sustainable growth.

How is Velan Offering Unique
Bookkeeping Solutions to Healthcare Companies?

Every business is unique!
So here are Velan’s unique bookkeeping solutions for your healthcare business that can be a game-changer for you:

healthcare bookkeeping

Simplified Healthcare Bookkeeping

At Velan, we understand the complexities of healthcare bookkeeping. Our unique approach is centred around simplifying the entire process for healthcare companies.

We streamline the tracking of patient transactions, manage diverse payment methods, and navigate the intricacies of healthcare finances.

Our goal is to provide a hassle-free bookkeeping experience, allowing healthcare professionals to focus on what they do best—delivering exceptional patient care.

We are committed to helping healthcare companies achieve their financial goals. Our bookkeeping solutions are custom-made to align with the specific objectives of each client.

Whether it's optimizing cash flow, reducing outstanding bills, or improving financial efficiency

we work in tandem with you and your team to support your financial aspirations. Our expertise contributes to the financial stability and growth of healthcare companies.

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Aligned with Financial Goals

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Easy-to-Read Financial Reports

We go beyond mere numbers; Velan provides healthcare companies with easy-to-read and comprehend financial reports. Our reports are designed to offer clear insights into the financial health of the organization. By presenting information in a user-friendly format.

We empower healthcare managers to make quick and informed decisions. Our emphasis on accessibility ensures that financial data is readily available for strategic planning and timely actions.

Our online bookkeepers recognize the importance of agility in decision-making for healthcare companies. So they craft solutions that are geared towards providing real-time financial information.

Through easy-to-read reports and transparent financial records, we enable healthcare managers to make quick, well-informed decisions.

This rapid decision-making capability is crucial in the dynamic and fast-paced environment of the healthcare industry.

Pharmacies

Facilitating Quick Decision-Making

Pharmacies

Customized Solutions for Varied Needs

No two healthcare companies are alike. Velan takes a personalized approach, offering customized bookkeeping solutions to meet the specific needs of your business.

Whether it's daily, weekly, monthly, or yearly bookkeeping requirements, our flexible services adapt to the unique demands of the healthcare sector.

This tailored approach ensures that our solutions align seamlessly with the specific goals and operational dynamics of your healthcare organization.

Velan doesn't just offer bookkeeping services; we establish a strategic financial partnership with our clients. .

Our team becomes an extension of your financial department, providing ongoing support and expertise.

By establishing this collaborative relationship, we contribute to the long-term financial success and sustainability of healthcare organizations.

Pharmacies

Strategic Financial Partnership

Bookkeeping for Healthcare

Frequently Asked Questions

We are outsourced service providers with offices in the USA and India. Our team works around the clock to give you support at any time of the day.
You most certainly will. Velan stands for delivering value. We will make sure you get services that are worthy of every single penny you pay us. We aim to maximize values and minimize your costs.
Well, the answer is pretty straightforward. Do you want to focus more on providing healthcare and less on numbers? If you thought yes, then you need healthcare accounting professionals to skilfully manage your accounting and make sure you are compliant with the tax laws.
Healthcare bookkeepers manage patient billing by recording services provided, generating invoices, and tracking payments. They also work with insurance companies to process claims and handle patient statements.

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