Finance & Accounting

Plan, scale and sustain your practice with integrated financial management solutions

Gain complete control of your financials with Neolytix’s bookkeeping and financial consulting services. From planning your practice to scaling into the big leagues, our financial management solutions tie seamlessly into your practice’s processes, allowing you to focus on growth instead of semantics.

Neolytix takes care of all your financial management needs

From budgeting to employee payroll and financial reporting, Neolytix mastered all the financial mechanisms within medical practices for over 10 years, allowing providers to focus on medical care, knowing their practices’ financial heartbeats remain sound.
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Grass-roots Financial Consultation

  • Get it right from the start
  • Establish the best bookkeeping, financial management, and revenue cycle management practices from inception
  • Expert guidance regarding budgeting, ROI, and long-term growth goals before starting your own practice

Tailored Bookkeeping Services

  • Cash or Accrual basis of Accounting
  • Set-up/conversion to Quickbooks Online/Xero, establish chart of accounts, and preparation of vendor guide
  • Employee reimbursements
  • Reconciliation on all financial accounts and payroll
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In-depth Financial Reporting

Analysis and reporting on all desired metrics Standard financial statements include:
  • Balance Sheet
  • Profit and Loss Statement,
  • Statement of cashflows
  • customized management reports.
Regular meetings to review financial reports and unlimited accounting support

Customizable Service Combinations

  • Plug Accounting services into Revenue Cycle Management Services for a fortified financial solution.
  • Cherry-pick additional individual services to integrate with accounting services like Medical Billing, Coding, Credentialing, and Licensing.
  • Receive discounts on combination services
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Specialized Financial Services

Once-off or regular selectable additional services available such as:
  • Audit Assistance
  • Customized Financial Reports/ Specialized Reports
  • Prior Period Clean-up
  • Related Party Transactions
  • Consolidation

Top 5 Reasons why Practices working with Neolytix

The flexibility and simplicity that Neolytix offers with our bookkeeping, accounting, and revenue cycle management services to medical practices nationwide are unmatched in the industry

Flexibility

  • Select the individual accounting services that best suit your practice at a given point.
  • Options available to combine bookkeeping/accounting services with billing, coding, etc at discounted rates 
  • Specialized Accounting and reporting services available upon request.  

Accounting Service Bundles

  • Bundling services available to suit your specific needs and budget.
  • 5 bundle options are available to complement any practice, regardless of size. 
  • All options include unlimited accounting support. 

Support throughout growth-cycle

  • Services offered from inception through all growth phases of a practice.
  • Fundamental planning and support before starting a practice. 
  • Optimizing accounting and revenue cycles throughout other stages of the practice life cycle.   

Sensible Analytics

  • Focused on the details with an eagle eye on the big picture.
  • Clear, intuitive, in-depth reporting and consulting to optimize the revenue cycle. 
  • Pointing out and recommending optimization/growth areas.

Complete Service Integration

  • Leaving no money on the table through sealing financial leaks and iron-cladding the total accounting and revenue cycle.
  • Combine bookkeeping/accounting services with billing, coding, licensing, and credentialing, or put them all under one roof, handled by expert teams motivated by your practice’s success. 

See What Our Clients Have To Say About Us

How Does It Work?

Neolytix has been working with healthcare providers for more than a decade, which is reflected by the simplicity of getting started with us!

Determine your Financial Management Needs

  • Are you about to embark on the journey of opening a new practice, looking to scale an existing practice, or needing help with individual accounting services within your practice to optimize your revenue?
  • If you are uncertain about your exact needs, schedule a no-obligation consultation

Select Accounting Bundles

  • If you are sure set on what you need, go through the bundle options and select the one that best suit your practice.
  • Or call us to determine which bundle would best suit your practice’s needs.

Select Complimenting Services

  • Integrate additional services such as billing, coding, credentialing, licensing, etc, and have expert teams take care of your entire revenue cycle under one roof.

Finance & Accounting Service

  • Schedule a free, no-obligation consultation with us if you are sure set what you want or need additional help. 

Neolytix’s Accounting and Bookkeeping Tailored Bundles

Select the best solution for your practice, carefully constructed to suit the needs of small to medium-sized practices, regardless of their position within the practice lifecycle.
Services Offered Starter Bronze Silver Gold Platinum
Fixed Monthly Fee $99 $199 $299 $599 $899 + add-ons
Establish applicable Chart of Accounts Included Included Included Included Included
Transaction Syncing Volume Up to 100 Monthly transactions Up to 200 Monthly transactions Up to 300 Monthly transactions 301 Up to 500 Monthly transactions 501 Up Monthly transactions
Accounting Methods Cash Basis Cash Basis Cash Basis Accrual Basis Accrual Accounting
Monthly reconciliation of all Financial Accounts (bank accounts &/or credit cards) 1-2 Financial Accounts Up to 3 Financial Accounts Up to 4 Financial Accounts 5-6 Financial Accounts 7 & above Financial Accounts
Payroll reconciliations and recording of appropriate journal entries Not included Not included Not included Monthly Semi-Monthly
Reconciliation of Accounts Receivables with Medical Billing Team Reports and book appropriate journal entries Not included Not included Not included Quarterly Monthly
Revenue Reconciliation (*included if client is also engaged with Billing Services) Cash-basis (Basic Invoices) Cash-basis (Basic Invoices) Cash-basis (Basic Invoices) Accrual Basis (Basic Invocies) Accrual Basis (Basis/Multi-period Invoices)
Monthly financial statements delivery including:
Statement of Cash Flows Not included Not included Not included Not included Included
Financial Report Highlights Not included Not included Not included Not included Included
Meeting for Review of Financial Statements Not included Not included Semi-annually Quarterly Monthly

Ready to optimize the financial health of your practice?

Combine With Other Revenue Cycle Management Services

Select additional services to complement your bookkeeping and accounting management needs. 

Billing Services

Guaranteed improvement to your current billing with HIPAA Compliant medical billing services covering Coding, Credentialing, Enrollment & Billing

Benefit Verification

Comply with the No Surprises Act of 2022 and discover best-in-class online eligibility search and follow-up service through fast, seamless, automated processes.

Complete Revenue Cycle Management

From a patient’s first-contact, to accounts receivable, complemented by detailed analysis and reporting on the full spectrum of the revenue cycle of a practice.  

xpedited Medical Licensing

Expedited Medical Licensing Get providers to become billable faster. Medical licensing services for you, your staff, and your practice. Includes physician licensing, non-physician licensing, DEA, CDS, and CLIA.

Medical Credentialing

Enjoy reliable, fast, easy & economical medical credentialing services through established relationships with payers nationwide.

VA Services

Facilitate the smooth functioning of your practice with flexible virtual assistant services that save you time and money.

Frequently Asked Questions (FAQ’s)

Cash basis of accounting refers to a method of recording transactions at the time cash exchanges hands. Accrual Accounting refers to the method of recording income and expenses when they happen.

For instance, if you receive a service in March but only pay for it in April, Cash basis Accounting would add that expense to the April books, whereas Accrual basis would add that cost to the March books instead.

Accrual Accounting is the standard of accounting in the healthcare industry.

The short answer is Access to non-disrupted expert accounting teams. Medical practices sometimes leave money on the table as their in-house teams lack the expertise or tools to create watertight bookkeeping. In addition, especially now, with employee turnover skyrocketing in the USA, practices find it hard to find and retain accounting staff over the long term. Resignations lead to disruptions and temporary hick-ups that are eliminated when opting to outsource the accounting function to a third party.

It is possible to outsource bookkeeping and accounting right from the start when opening your practice or later during any stage of the practice lifecycle. Although there is a natural tendency for practices to search for expert outsourcing partners as they scale up, there is now also a growing demand for this service due to the challenges brought about by the labor shortage.

So, in short, whenever you are experiencing sleepless nights brought on by your practice’s books, that is the best time to search for an outsourced accounting expert.

No. In general, when compared to hiring in-practice teams to perform the same duties, outsourcing the accounting function becomes considerably less expensive.

Neolytix offers special customized, transparent accounting bundles that are tailored specifically to small and medium medical practices. The exact services and cost of packages are transparent in nature, providing medical providers the opportunity to determine what they need for their specific practice, how much it would cost, and how much they will save.

Get a No Obligation Quick Quote for Finance & Accounting Services

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Ready to start building your dream practice?