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Certified Public Accountants and EAs

Staff Writers           The healthcare industrial complex represents a large and diverse industry, and the livelihood of other synergistic financial professionals and consultants who advise doctors depend on it.  These include financial accounting professionals who themselves wish to avoid the collateral damage and negative ripple effects of the current healthcare reform debacle. 

Introduction 

The nation’s 330,000 or so CPAs and Enrolled Agents [EAs] know little about the new healthcare dynamics and managerial accounting mechanics. Many often feel as though they are laboring away in obscurity and that their doctor clients do not appreciate what they do or how hard they work. 

If you are an accountant, your work-week is ridiculously long, especially January through April; and you often deliver bad news to your clients. You do not earn a generous salary, but you do receive their ire for your efforts.  

The Pondering 

So, you begin to scratch your head and ponder, quietly at first, and then out loud.  Perhaps managing the medical practice(s) of a physician, or providing consulting services to other medical professional is a business and financial planning opportunity that won’t require a new client base? You can keep your accounting practice during the first four months of the year, and supplement your income with something that may actually earn more than you are making now.

However, terms such as capitated medicine; per-member & per-month fixed fees; payment withholds; activity based costing with CPT® codes; utilization and acuity rates; and much more investment and financial nomenclature is quite unfamiliar to you. 

Then you appreciate that MBAs and actuaries may actually be the new denizens of the healthcare bean counting and practice management scene. Rather than present numbers of the historic past, they make logical and mathematical inferences about the future.

The Realization 

Slowly, you realize more precisely that the accounting profession may be loosing its premier advisory position within the medical profession. 

In fact, your research suggests that as a result, there are now several accountant managers and broker-dealers on the investment scene, as well as an increasing number of accounting-financial planning firms.  

The Epiphany 

A light then goes off in your head, epiphany!  Enter the Certified Medical Planner™ professional designation. 

For more information: www.CertifiedMedicalPlanner.com

Filed under: Accounting | Tagged: Accounting in Medicine |