Healthcare accounting is complex. In addition to the challenges stemming from issues such as regulatory changes, convoluted reimbursement mechanisms, staff turnover realities, tax pressures, succession planning concerns, hospitals and doctor’s offices must also navigate an intricate system of payers, spanning private insurers and government programs. We serve hospitals, long-term care homes, retirement homes, medical research facilities, foundations, community health organizations and others. We understand your invoicing, receivables, payment and capital equipment workflows and work with you to establish robust baseline budgets and forecasts in addition to helping you navigate financial, compliance and accounting challenges at every stage of your business.
Managing working capital does not need to be complicated, our team at wefinx analyzes your financials sales invoices, receivables and cash position to escalate red flags and meet with you regularly to discuss ways to improve your cash position whether it be through re-negotiating contractual terms, coming up with an insightful staff management schedules or should the need arise, even negotiating a round of fresh financing from third party lenders to bridge temporary cash gaps.
At wefinx, we help you optimize asset lives to ensure you are getting the most out of your capital investment. Aligning the fiscal depreciation rates with the CCA tax deduction rates for capital equipment may or may not be in your best financial interest - the decision hinges on several other unrelated matters of your business performance. Let us help optimize your asset usage rates.
An internal control framework is all about what can possibly go wrong and what can we put in place to prevent them from materializing, whether financial or otherwise.
At wefinx, we help you identify your financial reporting risks, work by your side to design, develop and implement internal controls around financial reporting to ensure you stop worrying about what can possibly go wring and focus on growing your practice.
At wefinx you get access to a team that understands fiscal fitness and how critical it is for you to ensure accurate, complete and reliable financial reports so you can make robust data driven decisions to grow your practice.
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