LUTZ BUSINESS INSIGHTS

 

CASE STUDY

FP Associates, P.C.

BACKGROUND

Our client, FP Associates, P.C., was experiencing issues finding and retaining a qualified individual with the appropriate skill set to replace their long-term office manager who had retired. For two to three years, this position saw quite a bit of turnover, and the cost and time it took for them to train new employees was significant.

Board Certified Family Medicine physician, Dr. Cervantes, was spending extra time and talent, as well as incurring added fees, on the training and guidance of each new office manager. In addition, the information and financial data they were receiving were not timely. This is where our Client Accounting Services team stepped in to help. Our team approached Dr. Cervantes with the idea of outsourcing all accounting functions to Lutz to help them cut costs, reduce time spent on hiring and training, and improve the overall timeliness and quality of financial reports.

LUTZ DIFFERENTIATORS

  • Over 15 years of experience providing outsourced accounting services with a scalable model.
  • A strong internal team with expertise in the medical (private practice) industry.
  • Incorporating multiple services lines, tapping into a breadth of specialized skills and knowledge.
  • The use of technology aiding in efficiency and timeliness of financial information.

OUTCOME

With our Client Accounting Services team’s help, Dr. Cervantes now receives timely, accurate financial data and statistical analytics that help him make more informed business decisions. Other benefits FP Associates receives by working with our outsourced accounting group include:

  • Removed concerns relating to the employee turnover, hiring process, and training for the office manager position.
  • Significant cost savings (compared to paying salary, employee benefits, etc. for a full-time employee, as well as the costs associated to re-train new employees).
  • Improved internal control processes.
  • Technology to improve efficiency and convenience.
  • Greater comfort and confidence to contact Lutz for guidance, advice, and assistance.
  • Confidence in accurate and timely accounting functions.
  • More time to focus on what they do best.

 

WORDS from THE Client

Name specific examples of how our Client Accounting Services team exceeded your expectations. 

Lutz’s team members communicate with me exceptionally well and have provided appropriate internal and external referrals when I have needed additional assistance. Special financial and accounting reports have been generated whenever needed. I have presented many questions, issues, and problems to their team, and they always get me the answer or assistance needed! They have been very patient with me over the years, and I am confident in their advice and the accounting work they provide to me and my business.

How did our team go above and beyond to help FP Associates reach their goals?  

Personally, I feel at ease working with Lutz’s team members to help with my personal & business taxes and paperwork. Their advice has been very much appreciated! Their team members have also worked exceptionally well with Bill.com, and I am so happy they suggested this option for paying monthly bills. It has freed up a lot of business management and personal time.

How did Lutz align its services with the values that drive FP Associates?

I am confident their team understands the service I expect to give my patients, and their advice and support have helped me accomplish this. I am very hands-on with my business management, and Lutz has helped guide me through the many changes in my personal business structure over the years in order to be successful as an independent medical office in the evolving healthcare environment.

RECENT POSTS

Lutz adds Tyler Hohenstein as Senior Accountant

Lutz adds Tyler Hohenstein as Senior Accountant

  LUTZ BUSINESS INSIGHTS  Lutz adds Tyler Hohenstein as Senior Accountant Lutz, a Nebraska-based business solutions firm, welcomes Tyler Hohenstein to its Grand Island office. Tyler joins Lutz’s tax department as a Senior Accountant. He is responsible for providing...

read more

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

115 Canopy Street, Suite 200

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850