Over the last few years, there has been an emergence of new health care models that promise to revolutionize the delivery of medical services. As we envision the future of medicine and a fusion of technology advancements, keeping up with an evolving regulatory environment and patient expectations is critical when driving transformation within your health care business.  

An equally important consideration when integrating new models of health care is also its accounting implications, which should be evaluated before making these costly investments.  

Doeren Mayhew’s health care accounting pros offer these key considerations:  

• Evaluate cost structure changes. This should be the first area you evaluate within your business. Areas to focus on include potential increases in operational expenses and investments in technology or training. Analyze how these changes impact your current cost structure, including initial investments in new technologies, training and potential shifts in staffing needs. 
• Assess your revenue cycle management. Accurate tracking and allocation of costs related to patient outcomes and quality metrics are essential for compliance and financial performance analysis.  
• Financial reporting. Organizations need to consider the impact on financial reporting and ensure they have robust systems for data collection and analysis to support informed decision-making and maintain regulatory compliance. 
• Financial planning. Strategic financial planning and budgeting are crucial when considering adding new models of care to your organization.  

Latest Health Care Models  

Some of the most common models being implemented across several health care organizations today include:  

• Telehealth: This virtual health care platform complements in-person care by improving coordination, continuity of care and reaching underserved patient populations. As you explore integrating telehealth into your organization, our health care accounting pros can offer support by creating budgets and financial plans for investments in telehealth as well as provide guidance on capital expenditures and operational costs to ensure financial sustainability.  
• Remote Monitoring: This enables health care providers to track patients' vital signs, medication adherence and disease progression in real-time, enabling early intervention and personalized treatment adjustments. Remote monitoring has many benefits, but it is important to understand how this technology will impact the growth and profitability of your organization. For example, it’s important to analyze potential revenue streams from remote monitoring services and advise on pricing strategies to maximize profitability. 
• Concierge Medicine: A membership-based healthcare that pairs exclusive, personalized care with accessibility and convenience. In a typical concierge practice, patients pay an annual fee or retainer to obtain enhanced services or amenities including, but not limited to, greater access to physicians, longer appointments and enhanced care coordination with specialists. Our health care accounting pros assist organizations with developing financial models for transitioning to a concierge medicine practice, including fee structures and revenue projections. 

We’re Here to Help 

We get it. You face countless regulatory, financial, operational and cybersecurity issues that impact your organization’s stability. Working with clients across the health care continuum, we help develop long-term strategic financial plans that incorporate new models of care, ensuring financial stability and growth. Don’t go in alone, we know the way.