Practice Management for Chiropractors, Dentists, Professional Offices, and Small Businesses

Are you passionate about your profession and enjoy your work, but when it comes to the business-side of your practice, do you feel like you’re falling short? How many different “hats” do you wear while running your business in a day? In a week?

Bowen Consulting Group provides business consulting and tax coaching services for small health care-related businesses. Through extensive, on-site practice evaluations and unlimited consulting we’ll identify and show you how you can earn more, keep more, and reduce the stressful burdens of being the owner of a small business or practice.

Do you feel like you never get ahead?

Are missing out on “secrets” to make you
more successful?

Business Consulting

In this time of uncertainty, it’s more important than ever to structure your business and personal finances to ensure increased profits and protection from loss.

Each business practice is different, even though they may share similar commonalities. But let’s not forget that the heart and soul of each business belongs to a person, or group of persons, even if the the company is identified as a Corp., LLC, etc. What are the visions of the owner for the future of the practice?

The financial x-ray starts with an evaluation of your company by looking at it’s current business structure. He likes to refer to it as a taking a “Financial X-Ray” of your practice, although it really details much more than the financial aspects. This is the foundation for the formulation of a plan that is specific to your practice and you.

An analysis your current business structure and activity.
An Analysis the interests and goals of you and your family.
Determining the most appropriate business entity or entities.
Providing proactive planning or current and future tax years.
Adjusting expenditures and structures to avoid year-end tax surprises.
Implementing correct characterization of expenses.
Lowering audit rates.
Uncovering additional legitimate deductions.
Avoiding red-flags and illegal compensation arrangements.
Properly characterizing and documenting your activities and expenses.
Planning the exit from your business.
Correcting past CPA mistakes.

The extraordinary consultant always keeps the best interest of the client in focus. James Bowen provides the knowledge, the practical expertise, and the caring necessary to transform your business to meet its full potential and achieve measurable results.

Clients continuously report that the amount of savings achieved in the first year alone far surpasses the consulting fee. The testimonials James has received speak for themselves.

Financial Management for Professional Offices and Small Businesses

Most small business owners lack one of the single greatest assets that can significantly shape the financial fluidity of their company — a Chief Financial Officer (CFO). Many think CFOs are for large corporations, with a complex structure, hundreds of employees, and millions of dollars.

This not true.

Professional offices need the help of a CFO. They have many of the same concerns and responsibilities of a larger company but operate with a limited staff and much less financial backing.

Many think they can’t afford a full time CFO.

But there is an easy solution!

Let Bowen Consulting Group act as your CFO and provide the services and protection that your professional office needs. We have assisted over 250 medical & chiropractic offices, attorneys, accountants, and other professional offices earn more, keep more, increase compliance, and live fuller richer lives ... all while substantially reducing tax liability.

Business Analysis

We perform a complete business audit that covers many areas including the following:

Acquisition
Asset Protection
Avoiding Audits
Bonuses
Bookkeeping
Buying-Selling a Practice
Compensation
Corp. Annual Meetings
Dividends or Salary
Documentation and Characterization of income and expenses for tax and healthcare compliance and efficiency.
Equipment Choice
Fee Splitting and Kickbacks
Financial Management of Cash
Financing and Protocol
Home Office Use
HIPAA
Hiring Associates
Hiring Employees
Insurance and Personal Injury Income
Integration of Ancillary Services
Management and Other Issues
Marketing
Operations
Payroll Liabilities Insurance
Practice Management
Primary Care Protection
Profit / Loss Categorization
Purchasing vs Leasing
Real Estate Ownership
SEP vs SIMPLE vs 401k
Sole Prop vs Corp vs LLC
Spousal Businesses
Spouse as Employee
Staffing Needs
The Exit Strategy

There is no one else in the country — no practice manager, accountant, or attorney — that provides the scope of services and bottom line results that Bowen Consulting does. No one.

With Jim’s advice and guidance I am working much smarter, not harder, and my office is actually running more like an efficient corporation. My stress is less, my income is significantly increased, and we have a great game plan for the future. With Jim’s advice we have significantly lowered our tax liabilities and saved a considerable amount of money. In addition, having Jim’s accountant amend two years of previous tax preparations has returned to us a whopping $40,000.00!

In a nut shell, working with Jim has saved us a lot of money, made us a lot of money, and got our office in a great position for further growth and prosperity.

David H. Spear, Ph.D., D.C.
Eugene, Oregon

[I]n just over a year of implementing the changes he advised we were able to: payoff John’s student loan 10 years ahead of schedule, remodel our clinic, save $30,000 in taxes, and increase our NET worth by $95,000!

Dr. John and Melody Barone
Mount Vernon, Washington

I have been a chiropractor for 15 years and have tried 5 different practice management companies. All of them taught me valuable lessons, but none of them were able to budge my practice numbers or my bottom line. Jim Bowen not only got to the heart of my practice dysfunction, he taught me how to run a business. After implementing Jim’s Report of Findings, my practice has grown 30% in just 2 months! Jim's strategies are simple and they work — by far the best business coach I've ever had. Thanks Jim!

Dr. Tom Holt
Port Orchard, Washington

The Strategic Planning — or shall I say LIFE planning — was an unexpected bonus I received with your consulting. I would have been pleased to part with some sound tax advice. Instead you gave me this and helped me develop the clarity to chart a course for my future that I may not have seen on my own.

Tom Necela, DC

Three years ago I began using the services of Jim Bowen. Not only did he save me a lot of money immediately, but he also helped me plan for the future. He has kept me focused on my business and personal financial life. He has returned my calls and has made himself available when I needed to speak with him.

I feel as he has been better than any management company as it is not what you earn, but what you keep.

Harvey Abrams, D.C., L.Ac., NCCAOM, FIAMA

I cannot thank Jim Bowen enough for all he has done for me and my practice.

First of all, I was caught up in the real estate market. The crash caused a state of financial crisis. I’m normally an extremely positive person. I was getting to the point I couldn’t see my way out. Jim came along and I will never forget his words; “you will get out of this, you are not realizing your assets.” Of course the first thing was getting me a $30,000 refund on my last two years of taxes. Secondly, he suggested selling my second satellite practice. He helped me find a lending institute to finance the purchasing doctor. At the time getting a loan was almost impossible.

He also assessed my practice. He showed me many ways to optimize and gave me a report of findings with 90 items to maximize my practice potential. All of them were very detailed and effective.

I had previously paid $14,000 a year for a practice management group. Jim’s information gave a different insight to how the business aspect of my practice should run. The information he gives is vital to business success and he costs much less than the practice management companies.

My wife of 19 years says it’s nice to have her positive husband back. Our wonderful life is back.

Dr. Tom Saeman
Vancouver, Washington