Medical Practice Consulting

Flagel Huber Flagel specializes in consulting services for medical professionals.  It is our goal to work with your practice to build and preserve your wealth and provide you with high quality professional services. 

Our Qualifications
Dedicated partners average 25+ years experience and dedicated managers average 15+ years experience. Team members are Certified Public Accountants (CPA), Accredited Business Valuators (ABV), Certified Financial Planners (CFP), Certified Fraud Examiners (CFE), and Certified QuickBooks ProAdvisors. 

Our Experience 
Our focus is on cost reduction and tax savings:

  • Profitability studies for group practices
  • Consulting on information capture and tax compliance matters pertaining to operations in multiple/satellite locations
  • Professional tax planning with regard to tax laws on corporate and individual basis
  • Monitoring national trends in medical practice management for current comparison and benchmarking
  • Lease vs. purchase analysis for vehicles, equipment, real estate, etc.
  • Analysis of overhead sharing arrangements, Stark allocations, etc.
  • Computer hardware/software selection/implementation 

Our Specialties
Physician Recruitment:

  • Assistance with design and structure of compensation to attract the most desirable candidates
  • Communication with physician recruits to explain the financial impact of joining a practice, the current agreements in effect, future benefits to be gained by joining, etc.

Fraud/Defalcation Protection:

  • Monitor percentage collection to total dollars billed in relation to industry averages
  • Analysis of collections, charges, receivables and write-offs in relation to changes in cash
  • Monitor cash balances on a monthly basis by performing bank reconciliations and proofs of cash
  • Agreed upon procedures designed to uncover weaknesses in internal controls and identify operating inefficiencies

Sales/Mergers/Acquisition:

  • Healthcare related valuation needs:
  • Medical practice acquisitions by hospitals and healthcare institutions
  • Physician buy-in and buy-out
  • Joint ventures with healthcare institutions and integrated delivery systems 

Wealth Accumulation:

  • Retirement plans
  • Bonus incentive calculations
  • Estate planning

Our Approach
Many of our medical practice consulting services are performed in conjunction with your regular counsel, attorney, banker, trust officer, insurance agent or financial consultant. In every case, we take the time to explain the complexities and keep you up-to-date on developments.

Our Medical Practice Consulting Team
Jeffrey M. Woeste, CPA, Partner
Terrence P. Egan, CPA, Partner