The healthcare industry is India's one of the largest industries in regards to revenue and employment. We all know how the healthcare sector plays a vital role in the well-being of a country's public. The Indian healthcare industry consists of hospitals, medical devices, clinical trials, health insurance, medical equipment, pharmaceuticals, and much more. The healthcare industry in India is also not exempted from obstacles concerning accounting, bookkeeping, taxation, etc. A few of the challenges in regards to accounting for hospitals and other healthcare providers are–
Your in-house professional accountant needs to be able to apply the standard costing procedure of the industry for setting a value for the product and services offered at your organisation.
Medical practice firms cannot keep up with new regulations, which then commit non-compliance. Compliance with US GAAP, International Financial Reporting Standards (IFRS), and Indian GAAP is another major issue.
The health care industry deals with a large volume of data on a day-to-day basis. Every medical practice and health care business has to set a proper system in place, allowing them to record these data efficiently.
Whiz Consulting provides accounting and bookkeeping services for the Healthcare Industry. We have provided accounting, bookkeeping, taxation, and payroll processing services through our professional accountants for over four years. Having worked closely with the healthcare industry and our expert's in-depth knowledge of the sector, we help set your medical practice up for financial success..
Accounting in the medical field is quite intricate as well as time-consuming process. We help you overcome this by providing you with customised professional bookkeeping for medical practices professionals. We have a team of professional accountants for the healthcare industry who have worked for various sectors, including Old Age Caring, Healthcare, Franchising, etc. If you are want to streamline accounting for hospitals in India, we also provide specialised accounting services for hospitals. We used popular accounting software for hospitals that will help you to streamline accounting for hospitals. Right from the enormous volume of bookkeeping and data entry to the preparation of the financial reports, we provide excellent service match to the complex nature of the industry and help streamline your business finance for better productivity and better client service.
Our service lets you keep your mind tension-free from the intricate function of Accounting and Bookkeeping and focus on your essential function to provide the best healthcare service.
We at Whiz Consulting aid you to conduct your business by focusing entirely on the core function by helping you put your accounting and bookkeeping function is in place. We provide accounting and bookkeeping services for Healthcare Industry in India to every type of business irrespective of its operation scale. If you are looking for Accounting and Bookkeeping services, here is why you should choose us -
Our experts are up to date with any new laws and regulations. Also, they are well acquainted with the accounting principles and existing rules and regulations prevailing in the industry.
Over a decade of experience and technical know-how of healthcare industry-specific requirements that helps to streamline your bookkeeping and accounting systems.
It will cost you 70% more to hire a full-time accountant as compare to hiring our service, where you will have a pool of resources under one roof.
Focus on your core function while we take care of your vital bookkeeping and accounting function, aiding you to bring scalability to the business.
We provide boundless phone and e-mail consultations with experienced professionals helping you to deal with any issues or query
We provide detailed financial reports helping you to understand your business's financial health and then take required measures