Medical, dental practices, law firms, architects, consultants, engineers – professionals have many business and financial concerns. As varied as the professions are, so too are their concerns. As these businesses grow, the owners typically continue to be an important source of revenue – whether from billable time or the performance of services. They don’t have the time or expertise to manage the more complex financial and business issues that begin to arise.
Some needs are industry-specific: doctors wrestle with constantly evolving reimbursement rates, the intricacies of Medicare and Medicaid billing, and the cash flow headaches associated with insurance reimbursements. Lawyers have fiduciary responsibilities with some clients and unique challenges with billing largely in the form of time-based fees. Many more concerns are shared across all professionals – here are just a few:
At Redwitz, we have developed expertise to assist our professional services clients in the following areas: (Services can be amended)
Compliance services of tax preparation and filings
Financial statement preparation
Outsourced CFO services
Budgeting and forecasting
Cash flow management
Incentive-based compensation structuring
Key Performance Indicator (KPI) development
Pension and profit sharing guidance
Technology consulting and support
Internal control review
Merger and acquisition facilitation
Business succession planning
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