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Accounting and Tax Basics for Private Practice

Enroll in the Online Self-Study Today

You likely did not create your private practice for the sake of running a business, and you likely were not trained on the business aspects of private practice in graduate school.  However, it is necessary to be knowledgeable in the accounting, financial, and tax aspects of running a business as the owner of private practice.  This course will both help you understand the critical accounting aspects of running your business and empower you to be financially successful.

This course covers the following topics:

  • basic financial and accounting terminology
  • budgeting
  • bookkeeping
  • business tax (write-offs, how the income is taxed, S Corp vs C Corp)
  • financial platforms/software (compare using the following options for accounting: credit card processing programs, practice management programs, all-in-one accounting software)
  • deciding when to hire a book-keeper
  • evaluating the financial health of a practice
  • what accounting/financial metrics should be tracked

Select each tab above to view specific details of this course

You likely did not create your private practice for the sake of running a business, and you likely were not trained on the business aspects of private practice in graduate school.  However, it is necessary to be knowledgeable in the accounting, financial, and tax aspects of running a business as the owner of private practice.  This course will both help you understand the critical accounting aspects of running your business and empower you to be financially successful.

This course covers the following topics:

  • basic financial and accounting terminology
  • budgeting
  • bookkeeping
  • business tax (write-offs, how the income is taxed, S Corp vs C Corp)
  • financial platforms/software (compare using the following options for accounting: credit card processing programs, practice management programs, all-in-one accounting software)
  • deciding when to hire a book-keeper
  • evaluating the financial health of a practice
  • what accounting/financial metrics should be tracked

This course was recorded April 1, 2022

Upon completion of this training, professionals will be able to do the following:

  • Explain the various ways to keep an accounting of their business financial transactions
  • Explain how their income will be taxed and potential tax write-offs for the business
  • Assess the financial health of their private practice

Matthew Bernot, MBA, is a Business Analyst at Miles Technologies, a Software and IT company providing technology services to small and midsize businesses throughout the United States. He has extensive experience in HIPAA compliance, accounting, finance and management. From 2012-2015, Matt managed the client portfolio of Medical Malpractice insurance transaction processing software for Catex, helping insurance companies, claims processors, Third Party Adjusting Firms, and Reinsurance Carriers all maintain HIPAA compliance on their portfolios as well as making their operations run more efficiently. From 2015 to 2019, Matt managed a branch of TD Bank, focusing on operations compliance and administrating business accounts for all industries. And in 2019, Matt came over to Striven, to work as a business analyst consulting medical organizations and other professional services companies in better business practices related to HIPAA compliance, DCAA compliance, and other financial and project auditing procedures. Matt also designed the configurations of the Striven Medical Edition, which is used by medical organizations to maintain HIPAA compliance. He’s also taught a version of this course to all Striven Business Analysts who work at Miles Technologies.  Matt can be reached at [email protected] and you can also find him here

Striven is a complete financial management software with all-in-one features for projects, inventory, sales, and more. Striven provides secure and powerful accounting solutions to help healthcare providers maintain HIPAA compliance. It eliminates the use of costly and unconnected software applications to make businesses run easier, faster, and safer. With secure document storage, easy client billing, fast payment collections and robust financial reports, healthcare professionals and CPAs can safely run their business on a single platform. You can find Stiven by clicking here.

This course does not offer CEs, just great content.

This is a non-interactive, self-study course.

To receive your certificate of completion you must complete the course in its entirety.

Online courses are completed by registering, logging in, navigating to your course using the menu (My Courses – the Course Title), completing all of the modules, completing and passing the post-test, and completing the course evaluation.

Live Webinar courses are completed by registering, logging in to this website, navigating to your course using the menu (My Courses – the Course Title), attending the full course via webinar, submitting your attendance, and completing the post-test and course evaluation online.

Psychologists and other professionals seeking CE credit through our approval with the American Psychological Association are asked, but not required, to complete the course evaluation before obtaining their certificate of completion, however passing a post-test for online self-study courses, and submitting one's attendance for live on-site and live webinars is required.

You can receive your certificate of completion by logging onto this website, navigating to the course using the menu (My Courses – the Course Title), scroll to the bottom of your course, and click on your certificate to either download it or print it.

Directions for completing a course can be found by clicking here.

Accommodations for Individuals with Disabilities

Click here to view our Accommodations for Individuals with Disabilities.

Cancellation Policy

Refunds are offered within the first 30 days for courses which have not been completed.  There is a 10% service fee for refunds.

Grievance Policy

Click here to view our Grievance Policy.

This course is intended for clinicians who have an interest in managing their private practice lgally and with confidence.

Teaching methods for this course include recorded lectures, videos, a post-test, and a course evaluation.  The course may include required reading.

This program was recorded on April 1, 2022

You have six months to access and complete online courses from the time of purchase.

Matt Bernot Headshot

Matthew Bernot
MBA

Matthew Bernot, MBA, is a Business Analyst at Miles Technologies, a Software and IT company providing technology services to small and midsize businesses throughout the United States. He has extensive experience in HIPAA compliance, accounting, finance and management. From 2012-2015, Matt managed the client portfolio of Medical Malpractice insurance transaction processing software for Catex, helping insurance companies, claims processors, Third Party Adjusting Firms, and Reinsurance Carriers all maintain HIPAA compliance on their portfolios as well as making their operations run more efficiently. From 2015 to 2019, Matt managed a branch of TD Bank, focusing on operations compliance and administrating business accounts for all industries. And in 2019, Matt came over to Striven, to work as a business analyst consulting medical organizations and other professional services companies in better business practices related to HIPAA compliance, DCAA compliance, and other financial and project auditing procedures. Matt also designed the configurations of the Striven Medical Edition, which is used by medical organizations to maintain HIPAA compliance. He’s also taught a version of this course to all Striven Business Analysts who work at Miles Technologies.  Matt can be reached at [email protected] and you can also find him here

Striven is a complete financial management software with all-in-one features for projects, inventory, sales, and more. Striven provides secure and powerful accounting solutions to help healthcare providers maintain HIPAA compliance. It eliminates the use of costly and unconnected software applications to make businesses run easier, faster, and safer. With secure document storage, easy client billing, fast payment collections and robust financial reports, healthcare professionals and CPAs can safely run their business on a single platform. You can find Stiven by clicking here.

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