Medical Practice Bookkeeping That Shows What You Actually Collected
Booxmax is a bookkeeping, payroll, and advisory firm.
Books that separate what you billed, what the payer allowed, and what you actually collected, reconciled to your billing system. So you can see the leakage and what each provider really earns.
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You billed it. That is not what you collected.
Healthcare is the one business where the price you bill is almost never the price you get. A charge becomes a payer-negotiated allowed amount, which is the contractual adjustment, and then becomes what you actually collect after denials, slow follow-up, and rising patient balances. The gap between those three numbers is where a practice quietly loses money. Net collection rate is the number that exposes it, and most practices never see it cleanly, because their books do not keep gross charges, contractual adjustments, and real collections separate. We keep books that do.
Why a practice’s books drift
Run on the side in QuickBooks, a practice’s books drift: categorization slips, deposits stop tying back to the billing system, and contractual adjustments get booked as if they were revenue. A few months of that and you are making payroll-sized decisions on numbers that are stale. Margins in a practice are thin enough that stale is expensive. We keep the books current and reconciled, so the numbers are something you can actually use.
Reconciled to your billing system, not guessed
We are not your medical biller. Your billing or revenue-cycle team codes and submits the claims. Our job is the financial layer underneath: we reconcile your books to that system and to the bank, keep the contractual adjustments separate from real revenue, and surface profitability by provider and by service line. So what the practice actually earned is a number you can trust, not a guess.
What we keep, every month
- Books reconciled to your practice-management or billing system and your bank.
- Gross charges, contractual adjustments, and collections kept distinct, so your net collection picture is visible instead of buried.
- A/R aging, with attention to balances past 90 days where collectibility drops.
- Profitability by provider and service line, with overhead allocated.
- Owner physician draw and compensation tracking, kept straight.
- Monthly reports in QuickBooks Online by Certified ProAdvisors.
We reconcile to your billing totals, not to a chart
Bookkeeping works from financial data: your billing system’s totals and your bank, not the clinical record. Your patients’ health information stays in your clinical systems, and we do not take it.
What we do, and what we don’t
We are a bookkeeping, payroll, and advisory firm. We are not your medical biller. We do not code or submit claims, prepare tax returns, or give legal advice. Billing and coding route to your revenue-cycle team. Income tax routes to your tax preparer. Clinical records and PHI stay in your EHR. We keep the financial numbers those depend on.
Local, secure, QuickBooks-based
Certified ProAdvisors, a secure 256-bit SSL/TLS client portal, based in Burbank and serving the LA metro.
[ Book a 20-minute books review ]
FAQ
What is net collection rate? The share of the revenue you were actually entitled to (after payer contractual adjustments) that you actually collected. It is the clearest measure of billing health, and you can only trust it if your books separate gross charges, adjustments, and collections.
Do you do our medical billing? No. Your billing team codes and submits claims. We keep the financial books and reconcile them to that system, so the money side is accurate.
Is this different from what my CPA does? Yes. We keep the books current and reconciled all year; your CPA files the return from clean numbers.
Do you handle our patients’ health information? No. Bookkeeping works from financial data only. PHI stays in your clinical systems.
Are you local? Yes. Booxmax, Inc., Burbank, CA, serving the LA metro.
This page explains general bookkeeping mechanics. It is not legal or tax advice, and it is not medical billing or coding. Billing routes to your revenue-cycle team; tax matters route to your tax preparer; clinical records stay in your EHR.
Booxmax, Inc. · 224 E Olive Ave, Ste 217, Burbank, CA 91502 · (818) 485-2669 · Info@booxmax.com · booxmax.com