VMORE – Finance Management

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VMORE – Finance Management

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The VMORE model enhances your private practice capabilities so that you have the freedom to perform at your best.

VMORE’s Finance team provide monthly reports on the financial performance of your practice while our practice managers have oversight of your whole practice to ensure it is running as effectively as possible to maximise your take home profit and support you in reaching your financial goals.

VMORE’s bookkeepers are vigilant about compliance with taxation legislation and consistent adherence to business reporting obligations and time-frames. We use leading accounting packages and liaise with your accountants to facilitate the smooth financial operations of your business.

Keeping your practice books healthy

Calculating provider reimbursements, facilitating payroll and reconciling accurately between your practice management and accounting software requires attention to detail, knowledge of the healthcare sector payers’ methods and time frames along with standard accounting principles.

Often practice owners consider this activity to be basic administration/data entry, however not having a strong understanding of accounting principles, legislative instruments that impact on a healthcare practice’s GST reporting can leave a practice exposed.

Our strict policy of separation of duties and privacy compliance ensures that the potential for fraud is eliminated and that only authorised staff can view your financials.

Our Medical Practice Financial Management service provides Xero and MYOB managed:

» data entry

» accounts receivable

» accounts payable

» bank/loan/credit card reconciliations

» BAS and IAS submissions

» superannuation guarantee submissions

» payroll services including payment summaries

» liaison with your accountant

» service fee calculations

» practice performance reporting

Our staff have considerable expertise in healthcare industry bookkeeping and our Director is a qualified and registered BAS agent with the Tax Practitioners Board abiding by the Code of Professional Conduct.

Privacy and confidentiality are second nature to us, which is particularly important in multi-provider situations.