Financial & Accounting Services

Accounting

CMC’s Financial Division is designed to accommodate the special needs of busy medical practices, hospitals, or healthcare systems. The department, which ensures that all financial statements are in accordance with generally accepted accounting principles (GAAP), offers a full array of general accounting services, including:

• Accounts payable
• Cash flow statements
• Cost accounting system design and set-up
• General ledger maintenance
• Internal audit function development
• Payroll processing
• Purchasing and inventory control systems
• Tax planning

Forecasting & Analysis

In addition to day-to-day accounting functions, CMC’s experienced finance team provides budgeting and forecasting reports, cost benefit and break-even analysis, financial reporting, and compensation analysis formulation. To further your business goals and ensure fiscal success, CMC provides value-added benchmark studies against established Medical Group Management Association (MGMA) standards for best practice comparisons.

Physician Compensation Models

Physician compensation models need to change as the physician practice changes. CMC staff can assist in development of a compensation model to meet the needs of the practice, including making recommendations for base salary, bonus formulas, at risk compensation. CMC staff will spend time understanding the needs of the physicians to ensure the formula meets expectations.