Medical practice bookkeeping, reconciled to what the bank received
Medical practice bookkeeping is the monthly work of recording a practice's income and costs and proving them against the bank: insurance deposits matched to remittances, patient payments matched to the billing system, payroll and supplies booked where they belong. Sorso does it for outpatient practices doing $0.5M to $10M a year, as part of our healthcare accounting service.
- For practices
- $0.5M–$10M
- Price
- From $2,000/mo
- Books closed
- 15 business days
- Guarantee
- 45-day money back
What is different about bookkeeping for a medical practice?
Most of a medical practice's income arrives from insurers in batched electronic deposits that cover many claims, often weeks after the visit. The books have to match those deposits to remittance advice and to what the billing system says was collected, or nobody notices when claims are denied, underpaid or never paid at all.
What is different about these books
Billing and the bank are two different stories
Your billing system says what was charged and what it expects to collect. The bank says what arrived. Reconciling the two every month is what catches denials nobody worked, underpayments nobody appealed and payments that never came. In our case study of a physical therapy clinic, nobody was doing that reconciliation.
Deposits need taking apart
One insurance deposit can pay dozens of claims, a card processor pays out net of fees, and payer recoupments come back out of later deposits. Each is matched to what it covers and the fees and clawbacks recorded, so revenue and costs are both right.
Payroll and provider pay
Provider compensation is usually the largest cost, often tied to production or collections. Booking it by provider, separately from staff payroll, is what lets the P&L show what each provider contributes.
Ready for your CPA, and for decisions
The books close within 15 business days of month end and arrive tax-ready for your CPA. Sorso is not a CPA firm and does not file returns; we keep the books your CPA files from and explain them to you every month.
What we do every month
- Every bank, card and loan account reconciled
- Insurance deposits matched to remittances, patient payments to the billing system
- Billing-system collections reconciled to bank deposits, gaps flagged
- Payroll and provider pay booked by provider and location
- Books closed within 15 business days of month end
- A monthly P&L, balance sheet and a short note on what changed
Who it is for
- Physician practices and outpatient clinics doing $0.5M to $10M a year
- Practices with one or several locations and more than one provider
- Owners whose billing company reports collections but nobody checks them against the bank
- Practices whose books are only caught up when the CPA asks at year end
If the practice is a single provider below about half a million dollars a year, a general bookkeeper will cost less than we do.
Questions owners ask
How much does medical practice bookkeeping cost?+
Sorso's healthcare accounting, which includes the monthly bookkeeping, starts at $2,000 a month, plus a one-time onboarding fee that depends on how much cleanup your books need. After onboarding it runs month to month, and the first 45 days carry a money-back guarantee on the monthly fee.
Is Sorso a CPA firm?+
No. Sorso is not a CPA firm and does not file tax returns. We keep the books, close each month and report on it, and hand your CPA tax-ready books at year end. Most owners keep the CPA they already have; the CPA's work gets faster because the books arrive clean.
We already have a billing company. Why do we need this?+
Your billing company submits claims and works some denials; it reports what it collected. Bookkeeping checks that against what reached the bank. Without that check, a billing company's report can look fine while money goes missing, which is what our physical therapy case study found.
Can you clean up past months?+
Yes. Onboarding includes a catch-up review of classification, reconciliation and revenue cycle issues, resolved in the first 30 to 60 days. The amount of cleanup sets the one-time onboarding fee.
Do I have to sign a long contract?+
No. After onboarding the service runs month to month, and the first 45 days carry a money-back guarantee on the monthly fee.
Related
Healthcare accounting →
The full accounting service: books, close, reporting and a monthly action plan.
Case study: $180K found in one quarter →
A physical therapy clinic where nobody reconciled billing to the bank.
Fractional CFO for clinics →
Forecasts, location-level P&L and exit prep, from $4,000/mo.
Overhead ratio calculator →
See how your costs compare with revenue, line by line.
Talk it through
Want Stan to look at this for your clinic?
Stan Sukhinin, CFA, founded Sorso in 2020: a fractional CFO and accounting firm for outpatient clinics across the US, with accounting from $2,000 a month and fractional CFO from $4,000. Book a free 30-minute call, bring the question and, if you have it, last month's P&L, and he will tell you what he would check first.
Founder of Sorso and a CFA charterholder. Before Sorso, Stan spent 19 years in corporate finance at institutions including UniCredit and Société Générale — managing a $450M loan portfolio and making senior partner at a major mezzanine lender by 29 — then built a fractional CFO firm exclusively for outpatient healthcare clinics.