Accounting and Bookkeeping Challenges in the Healthcare Industry


Healthcare Industry is an important sector and plays a significant role in the public well-being of a country. While the Australian medical practices industry is continuously striving towards the health of the nation, what it ends up lacking is its financial health. You might be a medical professional, medical practice firm or even someone who wants a piece of the glorified industry. But like any other industry, Healthcare Industry is also not exempted from obstacles concerning accounting, bookkeeping, taxation and so forth. Few of the challenges in regards to accounting for hospitals and other healthcare providers are–

Specialisation

While an in-house professional accountant does not have to be someone who has full knowledge and experience of medical practice accounting but they do need to be able to apply standard costing procedure of the industry for setting a value for the product and services offered at your organisation. 

Compliance

Medical practice accounting and bookkeeping is a non-core function for healthcare firms, medical practices firm and hospitals, and so on, and it entirely focuses on providing the best medical service. It is but obvious that there comes a time when your organisation is not able to keep up with new regulations which then ends up in committing non-compliance.

Big data

Australian medical practices and health care industry is among one such sector where the volume of data on a day to day basis is voluminous. And so, it is a necessity for every medical practice and health care business to set a proper system in place that allows them to record these data efficiently.

Customised Accounting & Bookkeeping Services by Whiz Consulting


We at Whiz Consulting, provide best in class accounting and bookkeeping services in the Healthcare Industry. We have over four years long experience working closely with the healthcare industry, and we have rendered accounting, bookkeeping, taxation and payroll processing services through our professional accountants who with their in-depth knowledge of the sector set your medical practice up for financial success.

Accounting in the medical field requires attention to details, and it is quite a time-consuming process. To overcome this, we provided tailor-made professional medical bookkeeping services and accounting services in the healthcare industry. Our services will help you to streamline your business finance for better productivity and better client service.

We have a team of professional accountants for healthcare industry who have worked for various sectors within the industry which includes Old Age Caring, Healthcare, Franchising etc. and they are working continuously for organisations be it Clinics, Hospitals, Individual Doctors and so on. Right from the massive volume bookkeeping and data entry to the preparation of Business Activity Statements (BAS) and the financial reports, we provide excellent service match to the intricate nature of the industry. 

With our service, you can keep your mind burden free from the complex function of Accounting and Bookkeeping and focus on your core function that is to provide the best healthcare service.

Accounting & Bookkeeping Services We offer for Healthcare Industry


Why Choose Whiz Consulting for your Accounting and Bookkeeping?


When your accounting and bookkeeping function is in place, you can conduct your business by focusing entirely on the core function. We at Whiz Consulting provide Accounting and Bookkeeping for Healthcare Industry in Australia to every type of business irrespective to its scale of operation. If you are looking for Accounting and Bookkeeping services, here is why you should choose us -

Compliance

Our team will make sure that your healthcare organisation doesn’t commit any non-compliance. We are well familiar with the accounting principles as well as existing and new rules & regulations prevailing to the industry. 

Decade long Experience

With the experience of over a decade and technical know-how of healthcare industry-specific requirements, our team will streamline your bookkeeping and accounting systems, upsurge the productivity and lower down the taxes.

Cost-Effective

Hiring a professional accountant who has in-depth knowledge of Healthcare industry who will be the right fit for your organisation can cost you 70% more as compare to hiring our service where you will have a pool of resource under one roof. 

Business Growth

We take care of your vital function while you take care of your core business function. It helps you to focus on what matter the most, helping you to achieve growth for your business

Boundless Consultation

We provide unlimited phone and e-mail consultations with experienced professionals helping us to modify a plan for you based on your exclusive business needs.

Consistent Report

Regularly view detailed reports of all the invoices that are processed along with the status of your invoices and reconciliation summary statements

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