• New Wave Accountants

Tips for Selecting the Best Accountant for Doctors

A doctor's primary focus is on providing medical care to their patients. However, it's important to remember that the business side of medical practice needs attention, too. This is where a good accountant comes in. An accountant for a medical practice does more than just handle the finances. A good accountant will help you take advantage of tax deductions for doctors and assist with business planning. This guide will explore why doctors need a specialised accountant and what qualities to look for when choosing one.


Tips for Selecting the Best Accountant for Doctors


1 - Consider Your Specific Needs


All generalist accountants will provide you with the same essential accounting services. However, you should choose an accountant that you feel comfortable working with and that understands your specific needs. Understanding your industry is the best way to ensure you are getting the type of advice you need. An accountant with expertise in accounting for doctors will be able to provide you with the relevant advice for your business.


2 - Find an Accountant with Experience


This is key. You want an accountant who has experience specifically with your industry. This will ensure that you have access to the type of information and advice that you need. A good accountant will be upfront about their experience and will be able to provide examples of past clients in your industry. This will help you to understand their expertise and will help you to make a better decision.


3 - Ask for References


When searching for an accountant for your medical practice, ask for referrals from colleagues, business associates and past clients. This will help you to understand the quality of work that you can expect. You will also gain a better understanding of the types of clients that they work with and what their process is for working with clients. Asking for references will help you to make an informed decision.


4 - Consider the Location


Physicians and medical professionals typically travel to their clients. This means that you need an accountant who can work remotely with you. It may be possible to work with a local accounting firm; however, it will be harder to schedule meetings, and you may have fewer options for communication. A virtual accounting firm will allow you to communicate via phone and email. This will make it easier to communicate with your accountant and will make it easier for you to schedule meetings.


5 - Choose a Good Communicator


It's important to have a good working relationship and to be able to communicate well with your accountant. Having good communication is key to making sure that your business is getting the accounting support that it deserves. Your accountant should be able to provide you with clear and accessible reports and be willing to answer any questions that you have.


Conclusion


If you decide to hire an accountant, you will be able to focus on what matters most; providing quality care to your patients. In addition, having an accountant will also help you save money by taking advantage of tax deductions and ensuring that your business is operating as efficiently as possible.


Should you be in need of a business accountant, contact New Wave Accounting. We understand small businesses and have worked with over 600+ businesses in several industries. This has allowed our Gold Coast Accountants to understand each industry and create tailored solutions for our clients.


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