Verify that purchasing systems have been developed. Verify that income and expense statement is prepared in the correct format to allow physicians to easily review their financial position and monitor trends. Verify that the format for a monthly receivables report is in place. Assure that personnel files are established and complete. Review chart of accounts descriptions to make sure that they are complete and being used correctly.
Review accounts receivable reports to make sure that ratios are progressing toward benchmarks.
If you have capitation in your practice, verify that the charges, capitation payments and withholds are being posted correctly. Perform an audit of sample patient accounts and month end capitation payment posting. Verify that staff meetings are being held on a regular basis. Assure that cash is being deposited directly to the money market account and only drawn down into the checking account when needed. Begin year-end tax planning.