Specialists in the Business of Hospital Based Medicine

FINANCE & CASH MANAGEMENT SERVICES

Services

Did You Know?

Businesses that outsource the management of their accounting and financial activity realize lower costs and improved quality.  ACCA - Finance Transformation: Expert Insights on Shared Service and outsourcing. (June 2013).

Finance and Cash Management Services

Compliance Management

Strategic Management and Advisory Services

Revenue Oversight and Management

Human Resources and Benefits Administration

Financial Reporting and Budgeting Services

General Finance & Cash Management Services helps manage all aspects of a Pathology group’s daily financial activity.  HBC works with the group to handle the cash management, payroll, accounts payable and physician reimbursement.  HBC’s services in this area include:

• Cash Management – HBC monitors banking activity to ensure adequate cash balances are maintained. HBC provides monthly bank reconciliations to verify the reported cash is consistent with the bank’s records. Transactions outside of lockbox collections are also audited.

• Payroll Processing & Documentation – HBC manages all aspects of the group’s payroll.  All Hourly, Salary and Overtime hours are maintained.  All payroll deductions are created and tracked. HBC also reviews, audits and verifies monthly, quarterly and annual payroll tax reports.

• Accounts Payable and Physician Expense Reimbursement – HBC evaluates vendor bills and physician expense reimbursements for payment.   A group's administrating physician approves all checks for payment.  Checks are then sent to the administrating physician for signature and payment.