Danzinger & Co. is a healthcare CPA firm providing healthcare accounting, bookkeeping and tax services for practices across New York — medical groups, urgent care, physical therapy, behavioral health and home care agencies in Rockland, Westchester and the five boroughs. Our medical practice accounting ties collections to charges, tracks denials and days in A/R, allocates provider and staff costs by location, and handles the PC and PLLC filings behind your practice.
The questions New York practice owners ask us most about medical accounting services, answered in plain English. Swipe through.
What is healthcare accounting?
Healthcare accounting is bookkeeping and tax built around a practice: charges reconciled to collections, denials and A/R aging tracked as management numbers, provider and staff compensation allocated by site, payer contracts and patient balances kept straight, and the professional-entity filings New York requires kept current.
Done right, accounting for medical practices tells you what each location and each provider really earns after payroll and overhead, and what you will owe at the end of the year.
How is it different from regular bookkeeping?
A service business sends an invoice and gets paid. A practice sees a patient, submits a claim to a payer under a contracted rate, waits 30 to 60 days, gets paid a fraction of the charge or denied, bills the patient for the balance, and does that hundreds of times a week across several payers. The largest expense is people, spread across sites and shifts.
Each of those needs its own process, which is why generic templates fail at accounting for healthcare. A practice’s books drift from its bank within a quarter.
How do I know if my revenue cycle is healthy?
Watch three numbers every month: days in A/R, ideally 30 to 40; the share of A/R older than 90 days, ideally under 15%; and the denial rate, under 5% for a strong practice. Each one has a cause you can fix, from front-desk eligibility checks to coding to follow-up on unpaid claims.
We report all three with the financials, so the practice manager and the owner are looking at the same page.
How should provider compensation be handled?
Consistently and transparently. Whether providers are paid on salary, collections or work RVUs, the formula should be documented, calculated from the same data the books use, and reconciled every pay period. Compensation per work RVU rose about 3% last year, so the plan needs a review cadence too.
We calculate the compensation, book it by provider and site, and give you the report that answers the question before it is asked.
When should a practice hire a healthcare CPA?
Before you form the entity, before you add a partner or a second site, and before you sign a payer or MSO agreement. Each of those locks in decisions on structure, tax and compliance that are expensive to unwind, and New York’s professional-entity rules leave little room for improvisation.
A healthcare CPA who works with New York practices will also flag local specifics, from the MCTMT on downstate payroll to NYC filings for a site in the boroughs.
Many Practices Are Full Every Day and Still Don’t Know Which Site Makes Money — Don’t Be One of Them
A practice runs on volume and delay. Hundreds of visits a week that become claims, paid weeks later at a contracted fraction or denied; payroll that is the biggest expense and due every two weeks regardless; three sites and a dozen providers sharing one set of books. Your schedule shows how busy you are. It does not show what you keep.
When accounting for healthcare is booked from bank deposits alone, revenue lags the work by months, denials are written off unseen, a weak site hides behind a strong one, and the entity itself may not be what New York allows. These are the four problems we see most often in practices across Rockland, Westchester and the five boroughs.
Challenge 01
Seen in March. Billed in April. Paid in June. Maybe.
Challenge 02
Denied: 11%. Appealed: 3%. Written off: the rest.
Challenge 03
Three locations. One number for labor.
Challenge 04
An LLC with a non-physician partner. Now what?
01
Revenue that lags the work by months
Every visit becomes a claim, and every claim waits on a payer. Industry targets put days in A/R at 30 to 40; past 50 the practice is financing its payers. Without A/R aging tied to the books, the P&L shows a good month that the bank never sees.
02
Denials nobody chases
Four in ten providers now report denial rates above 10%, against a 5% target. Each unworked denial is revenue that was earned, documented and quietly written off, and the books rarely show how much.
03
Payroll that hides which site is losing
Staff and provider compensation run 25% to 30% of revenue and are the biggest line in the practice. Booked as one total, a strong site carries a location that has never covered its own providers, and decisions get made on averages.
04
A structure New York doesn’t allow
New York requires medical practices to be professional corporations, PLLCs or partnerships owned entirely by licensed physicians, and the same rule applies to other licensed professions. The wrong entity, or a non-licensed investor, is a compliance and tax problem at once.
How We Help Healthcare Practices in New York
Collections You Can Predict and Cost by Site Are the Difference Between Busy and Profitable.
Danzinger & Co. is a New City, NY CPA firm that keeps the books for medical groups, urgent care centers, therapy practices and home care agencies. We build your healthcare accounting the way a practice actually runs — visit, claim, remittance, denial, patient balance, payroll, site — so every dollar ties out and every decision starts from margin by location, not visits on the schedule.
Here’s what we do for you:
Reconcile charges to collections
Reconcile charges, contractual adjustments, denials and patient payments from your practice management system to the bank every month. Revenue on the P&L ties to what payers and patients actually paid, with the gap explained line by line.
Track A/R & denials
Report days in A/R, A/R over 90 days and the denial rate with your financials every month. The three revenue-cycle numbers that predict cash, benchmarked against industry targets and trended by payer.
Allocate payroll by site & provider
Allocate staff payroll and provider compensation to the location and provider that generated the work. Labor as a percent of revenue by site, provider productivity, and a compensation calculation reconciled every pay period.
Build a P&L for every location
Produce a profit and loss statement for each location and provider, plus a consolidated view for the group. Rent, supplies and shared administration follow a rule you agree to, so sites are compared fairly before you renew a lease or add one.
Structure the PC, PLLC & MSO
Set up and account for the professional entity and any management services organization New York’s rules require. Physician-owned PC or PLLC, MSO management fees at arm’s length, and intercompany books that hold up to review.
Manage cash around payer lag
Forecast cash so payroll every two weeks never depends on which payer paid this week. A rolling forecast built on A/R aging by payer, payroll dates and rent, with the slow payers flagged before they become a problem.
Run payroll & benefits
Run payroll for providers, clinical staff and admin across sites, with MCTMT and benefits handled. Payroll tax filings, MCTMT for downstate practices, retirement plan contributions and the reports your compensation plan needs.
File New York State & City returns
Handle New York State and City filings and the entity returns behind your practice. PC, PLLC and partnership returns, quarterly estimates, NYC filings and the compliance calendar for every registration.
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Who We Serve
Our accounting services for healthcare practices are built around how each type of practice earns and spends.
Medical groups. Multiple providers, shared overhead and partner distributions call for clear compensation formulas and a P&L by provider and by site.
Urgent care. High walk-in volume, a mix of insured and self-pay patients, and often several locations make collections by payer and margin by site the numbers that matter.
Physical therapy. Per-visit reimbursement and payer visit limits mean collections and denials need to be tracked by payer and by therapist.
Behavioral health. In-network, out-of-network and private-pay clients, plus telehealth, require revenue tracking that reflects each payment path.
Home care agencies. Payroll is the dominant cost, so accurate, compliant payroll tied to the books, and reimbursement tracked against hours delivered, drive profitability.
Beyond Bookkeeping: Tax, Payroll and CFO Support
Clean books are the starting point. Because one team handles the full financial picture, you don’t need separate vendors who never see each other’s numbers.
Our accounting services cover monthly bookkeeping, reconciliations and financial statements built for a practice, including A/R, denial and provider-level reporting. Our business tax services handle PC and PLLC returns, New York State and City filings, and year-round planning, so provider compensation and distributions are structured with tax in mind.
Our payroll services run payroll and benefits by provider and site, so compensation ties directly to the books. When you’re adding a site, bringing in a partner or negotiating with payers, our CFO services add forecasting, budgeting and margin analysis by location.
How It Works
01
Strategy call. Tell us your specialty, how many sites you run and who your main payers are. We’ll show you where denials, payer lag and payroll may be affecting margin.
02
Setup and cleanup. We connect your bank, billing and payroll data, bring past periods current, and set up your books by site and provider.
03
Monthly reporting and review. You receive financials with days in A/R, aging and denial rates, and a senior accountant walks you through what changed and why.
Why Choose Danzinger & Co. for Your Healthcare Accounting
We know New York healthcare
PC and PLLC rules under the corporate practice of medicine doctrine, MSO structures, MCTMT on downstate payroll, NYC filings for a Brooklyn or Queens site: we handle these for practices across Rockland, Westchester and the boroughs every month.
You talk to a senior accountant
No junior hand-offs. The person who understands your per-provider margin is the person who answers when you call.
Flat, predictable pricing
You know the cost before the work starts, and it doesn’t jump because you opened a third location.
Stop Guessing Which Location Makes Money. Call Us First.
One conversation is usually enough to see where denials, payer lag and payroll are eating your margin. Call (347) 410-1839 or send us a note below.
How should a medical practice account for insurance claims and collections?
A medical practice should track insurance claims separately from actual collections so it can see what was billed, what was approved, what was adjusted, and what remains outstanding. Proper accounting helps identify delayed payments, denied claims, contractual adjustments, and collection issues before they affect cash flow.
Can a non-physician own part of a medical practice in New York?
In most cases, no. New York generally requires medical practices to be owned through approved professional entities by individuals licensed to provide the professional service, which means non-physician ownership is highly restricted and should be reviewed with health care counsel before any structure is created.
What overhead ratio should a practice expect?
A practice’s overhead ratio depends on its specialty, staffing model, rent, equipment, insurance participation, and service mix. Rather than relying on one general benchmark, medical practices should track overhead by category and review trends over time to understand whether costs are aligned with revenue and growth.
Can you produce a profit and loss statement for each location and each provider?
Yes. With the right accounting setup, Danzinger & Co. can help produce profit and loss statements by location, provider, department, or other reporting category. This gives practice owners better visibility into revenue, expenses, profitability, and performance across the business.
We want to hear from you!
Tell us your specialty, how many sites you run and who your main payers are, and we’ll show you what a per-location P&L looks like. Fill out the form and a senior accountant will reply within one business day.
“We run several locations and payroll is by far our biggest expense, so when the numbers are fuzzy it costs you fast. I couldn’t see which sites were carrying the group and which were dragging it down. Danzinger & Co broke our reporting out by location, got our provider and staff labor costs allocated correctly, and tightened the billing-to-collections cycle so revenue stopped lagging the work by months. Now I run the group on real per-site numbers instead of gut feel. And they explain it like humans, which I don’t take for granted.”
ME
Mendel ErlenweinCEO & Founder, CareCo
“I have been a client of Danzinger & Co for over a decade and could not be happier! The team is fantastic. Professional, responsive and absolute experts. Besides for their bookkeeping and general accounting capabilities, I have found them to be especially knowledgeable in taxes and how relates to a businesses or personal overall standing. They have a broad and deep understanding, and see the big picture when it comes to a company or personal financials. I recommend them to all my friends and family, and I’m very happy to do so!”
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