BSO Case Study - Healthcare 1

Outsourced Finance & Accounting

Upgrading accounting software and providing accurate financial data

U.S. based radiology physician practice

Company background

Client Challenges

The client had poor communication with their prior accounting firm and needed a new firm to provide guidance they didn’t have in-house. The accounting department had a high turnover rate, lack of transparency in their financials and no online payroll portal.

In Medical Laboratory Patient Undergoes MRI or CT Scan Process under Supervision of Radiologist, in Control Room Doctor Watches Procedure and Monitors with Brain Scans Results.

BDO’s Solution

Improving onboarding process for new employees.

3 of 4

Redesigning financial statements, tracking corporate and individual partner expenses.

2 of 4

Establishing regular meeting cadence for improved communication.

1 of 4

BDO upgraded the client’s accounting software and streamlined their accounting process by:

Providing consistency and timeliness in month end close and Financials.

4 of 4

Company Benefits

RETURN TO BEGINNING

$1.3 million in tax savings from entity restructure.

Efficient practice advisory team and reporting.

Accounting and admin back office is fully outsourced and digitized all paper work.