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Starting a group practice

What you need to know to keep the financial side of your practice in order

Are you starting a group practice, but you're unsure where to start?

Do you need help getting started and setting things up?

In this 6 week course, the GreenOak Accounting team will teach you everything you need to know.

Each week you'll receive access to new recorded lessons you can watch at your convenience. You'll also have access to a weekly Q&A where you can ask Julie Herres and Kelly Jewell from GreenOak Accounting team any questions you have on the materials.

You'll learn:

  • Common compensation structures

  • Direction on how much to pay your new team members

  • Setting up payroll

  • Managing cash flow while hiring

  • Benefit options

  • Tools and templates

  • Bookkeeping basics

  • And much more!


You'll also get:

  • An assessment of your accounting system

  • An action plan to get your records in order (if needed)

 

The course begins on February 6th and will end on March 17th.

The lessons will be published each Monday, and you can watch them at your convenience. The weekly Q&As will be each Friday at 12ET. Each Q&A will be recorded, you'll also have the opportunity to submit questions in advance.

Course Curriculum

Week 1: Decide how to pay your new team member

  • Contractors vs employees

  • How much should you pay clinical team members?

  • Templates for various compensation structures

  • Part-time vs full-time hires

  • Bookkeeping basics

Week 4: Money Mindset for group practice owners

  • Why your practice deserves to be profitable

  • Calculate how much money you can expect to make in your practice

  • Taking care of yourself & owner’s pay

  • Benefits and retirement options for you as the owner

Week 2: Getting ready to pay your new team

  • Payroll software and setup

  • HR do's and don'ts

  • Benefit options & when to add them

  • Managing cash flow & hiring

Week 5: Tax
 

  • Payroll tax

  • Federal, state and self-employment tax

  • Quarterly estimated tax

  • Tax deductions

  • Getting ready for year-end

Week 3: Managing your financial records

  • Bookkeeping basics

  • Bookkeeping best practices

  • Ratios of a small group practice

  • Record-keeping for your employees

  • Reading your financial reports

Week 6: Wrapping things up
 

  • KPIs and tracking performance

  • Bonuses

  • Raises

  • Profit First

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Not ready to dive in quite yet?

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