Moran PRACTICE Advisory
Strategic. Timely. Personal.
Services
Our purpose is to provide practical advisory services that help doctors and dentists reach their practice and financial goals. We recognize that these goals will vary with each practitioner, so we tailor our approach for each engagement to maximize results and profitability. We strive to deliver value that far exceeds our fees.
MONTHLY Services
Our practice advisory services are forward-looking, automated, and delivered within a few business days of month end. Our monthly services include:
Automated Accounting
We link your bank accounts and credit cards to Quickbooks Online, and help you automate your bill payment process so that you may only write a few manual checks each month. We close each month within a few days after month end and provide you with timely financial reports.
Practice Dashboard
We have designed a practice dashboard that focuses on the key factors of profitability and performance. This dashboard lets you see how your practice is trending, identifies areas for financial improvement, and tracks your progress toward goals.
Monthly Phone Consultation
Each month you will have a phone conference with the president of our advisory practice. These calls will include a discussion of the financial statements, analysis of the dashboard, staff and employment issues, and progress toward personal and financial goals.
In addition to the services above, our clients have access to us throughout the month for a wide range of consultations. These calls, texts and emails often relate to employment issues, capital expenditures, collection issues, and personal budgeting decisions. Instead of limiting access to our team, we welcome the opportunity to assist our clients in any way we can.
Transactional Services
We love helping buyers and sellers experience win-win practice transitions and assisting doctors and dentists in establishing successful practices. We have a diverse, trusted professional network, so if a need doesn’t fall in our broad area of expertise we can connect you with the right professional to meet that need. Our transactional services include:
Practice Brokerage Services
Selling their practice is often the biggest financial decision a doctor or dentist will face, and we come alongside to help them navigate through the process. We provide fixed fee brokerage assistance that is priced below industry norms and is delivered without the drama and pressure that often accompanies the process.
Assistance in obtaining financing and meeting underwriting requirements
We have had the pleasure of working with many wonderful bankers on practice transactions. They appreciate our common-sense approach to transactions, and many times we are able to complete transactions and obtain financing without a costly practice valuation. We can provide cash flow projections and other financial information the bank needs, relieving stress for the practitioner.
Practice selection consulting
Many doctors and dentists do not feel confident in knowing what to evaluate when deciding which practice to buy. We analyze the financial aspects of the practice, as well as assess other factors within the practice that will affect future profitability.
Practice Assessments
A practice assessment is a one-day, onsite evaluation by the president of Moran Practice Advisory. He interviews staff members, observes patient flow, analyzes practice financial reports, and discusses practice pain points and goals with the owner and oftentimes their spouse. He then prepares a report that identifies key areas of improvement and action steps for those areas. For monthly clients, these items are discussed and monitored as part of our consultation phone discussions.
About Moran Practice Advisory
Mike Moran, CPA, CGMA, founded Moran Practice Advisory after many years of experience in public accounting and oral surgery practice administration. He began developing the consulting approach we now use while serving as a Consulting Manager at HoganTaylor. During his time with HoganTaylor, he served as outsourced CFO for several companies in Oklahoma City in addition to developing the Practice consulting niche. HoganTaylor now serves as a preferred tax service provider for Moran Practice Advisory clients.
Mike gained valuable experience in the practice sector as Administrator of a multi-location oral surgery practice. In the first three months in this role, he was instrumental in establishing a new practice from scratch and negotiating the purchase of a second practice location. He greatly increased the profitability and financial well-being of the owner throughout his tenure. He established strong working relationships with the referring dentists, often helping them with financial situations and decisions.
Mike is passionate about helping doctors and dentists succeed. His easy going, down to earth approach is welcomed by his clients. His vision for Moran Practice Advisory is focused on personal, professional service.
Contact Us
13204 GRAPE ARBOR TERR
Oklahoma City, OK 73170
Phone: 405.919.5540
Email: info@moranadvisory.com