Healthcare

Our expert team of healthcare accountants have many years of experience in the sector, delivering a personal, proactive and industry-specific approach through on-going support and advice. Currently we’re working with over 250 healthcare clients across the firm.

If you are a care home owner looking for a specialist accountant, or a practice manager looking for expert professional advice in the dental or medical sector, Bishop Fleming’s healthcare team has the expertise and experience you need.

Members of the team are representatives of the Kreston Medical & Healthcare Group and Institute of Chartered Accountants in England and Wales (ICAEW) Healthcare Group. They attend regular meetings and training to share best practice whilst keeping up to date with the latest developments in the sector.

We pride ourselves on offering a comprehensive service to: 

Care Homes, Dentists, Doctors, Pharmacies, Opticians, Vets, Chiropractors, Physiotherapists, Hygienists and many other related healthcare businesses.

How we can help with healthcare sector advice

Care homes

Our dedicated care home team means that we understand the challenges facing providers and work closely with our clients making the best use of technology to ensure that they are able to focus on the running of their business.

Our team of specialists provide advice to over 250 clients, from the owner-managed and privately owned to large portfolios and corporate groups. These include Care homes (retirement/residential homes for the elderly), nursing homes, learning disability, challenging behaviour and specialist needs, rehabilitation, supported or assisted living, domiciliary care agencies and foster carers.

Doctors

The GP sector is ever-changing and presents a range of financial challenges for practices. We are proud to class ourselves as specialists within the sector and have an experienced, innovative and dedicated team who are passionate about the service we deliver.

We have a wealth of experience within the GP sector, providing a variety of services to many GP practices, hospital consultants, locum GPs and other healthcare professionals, including:

  • Preparation of year end accounts
  • Partnership and personal tax returns
  • Management accounts
  • Budget forecasting
  • Drawings projections
  • Tax planning
  • Partnership agreements
  • Accounting software
  • Mergers and acquisitions
  • Superannuation (see below for more details)

We are also able to advise GP practices on Making Tax Digital, which will come into force for dispensing practices in March 2019 and for non-dispensing practices in 2020. This includes advice on systems, software and the tax implications for practices.

Dentists

In today’s rapidly changing professional world, it helps if you can work with advisers who truly understand the pressures you face.

With changes surrounding pay, personal tax and pensions as well as staffing costs and structure being key issues facing the dental sector. Maintaining a healthy and profitable dental practice requires good management and high quality on-going support from your advisers.

Our specialist healthcare team work closely with over 50 dental practices and associates, and our experts have in-depth knowledge of the sector, providing proactive accounting and financial advice.

Whether you are newly qualified, a principal, associate or limited company, we offer realistic, customised advice that will help you to build your future the way you want. Our commitment, insight and practical approach will help you to achieve more from your practice. Useful at any time, our skills are particularly valuable during periods of change such as acquisition, disposal, incorporation, or making the transition between NHS and private practice.

As part of our commitment to the dental profession, our team of experts attend specialist dental training courses to keep up to date with the latest developments and regularly sponsor local independent dentist training days and foundation dentist events.

As members of Kreston International (one of the largest worldwide networks of independent accounting firms) the Kreston UK Healthcare Group is a valuable forum to share its experiences and promote best practice to dental clients.

The healthcare team are also members of the Institute of Chartered Accountants in England and Wales (ICAEW) Healthcare Group. This is also a valuable forum to share experiences and keep up to date with latest developments.

Specialist healthcare services

At Bishop Fleming we are not only experts in our respective fields such as tax and accountancy, but we use our specialist sector knowledge to help clients across the broadest spectrum of industries.

As financial regulations for individual sectors become more complex our extensive knowledge of the healthcare sector will deliver tangible benefits and visible advantages to you.

As part of our on-going commitment to our clients we send updates with technical sector and industry developments. Our communications with you will include bulletins, newsletters and updates (via email and hard-copy) as well as invitations to a variety of events. Some of these include:

  • Benchmarking financial performance on a local and also on a national level through our membership of the Kreston Healthcare & Medical Group and ICAEW.
  • Accessing and sharing information with Kreston Healthcare Group members to identify ongoing trends.
  • Finance Director Newsletters and sector-specific bulletins on technical issues that you should be aware of.
  • Networking events in Devon and the surrounding areas (at one of our offices or elsewhere).
  • Budget briefings to summarise the changes resulting from the Chancellor’s budget.

 

To find out how we can help you or your business with Healthcare sector advice, please contact a member of our team.

Download our Care Homes and Bishop Fleming brochure here.

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