Health Services

Healthcare professionals dedicate their careers to the wellbeing of their patients. At Lanphier LLP, we dedicate ours to the financial wellbeing of healthcare providers. Medical practices, physician groups, dental offices, and other health services organizations in Denver and across Colorado face a unique set of financial challenges -- from managing insurance reimbursements and complex revenue cycles to navigating the tax implications of practice ownership, physician compensation structures, and regulatory compliance. Our team brings specialized knowledge of the healthcare industry to help our clients focus on patient care while we focus on their financial health.

Whether you are a solo practitioner just establishing your practice along the Front Range or a multi-physician group with complex partnership arrangements, Lanphier LLP provides the financial expertise your practice needs. We understand the difference between fee-for-service and value-based reimbursement models, the nuances of medical practice entity structuring, and the importance of cash flow management in an industry where payments can lag service delivery by weeks or months.

Medical Practice Accounting

Medical practice accounting requires an understanding of revenue recognition in the context of insurance billing, patient co-pays, and contractual adjustments. We help our healthcare clients implement accounting systems that give them clear visibility into their practice's true financial performance. This includes tracking revenue by provider, by payer, and by service line, as well as managing the overhead allocations that determine each provider's profitability. For group practices, we handle the complex allocation methodologies that govern partner compensation and ensure they are implemented accurately and equitably.

Physician Tax Planning

Physicians and healthcare professionals typically have high incomes that come with significant tax exposure. Our tax planning for healthcare providers goes far beyond basic return preparation. We work with our clients on entity structure optimization -- helping them determine whether an S-Corp, LLC, or other structure best serves their situation. We advise on retirement plan selection, including defined benefit plans that can shelter substantially more income than a standard 401(k). We plan for equipment purchases, practice acquisitions, and the eventual sale or transition of the practice. And we coordinate with our clients' other financial advisors to ensure every element of their financial lives is working together efficiently.

Denver's healthcare sector continues to grow, and Lanphier LLP is committed to growing alongside it. If you are a healthcare provider looking for a CPA firm that truly understands your industry, we invite you to schedule a consultation at our Colorado Center office.