Bookkeeping for medical practices
A practice can look busy and still be short on cash, because insurers pay weeks after the visit and patients pay on their own schedule. Mispar reconciles insurance remittances and patient payments to the bank, keeps provider compensation and payroll organized, and prepares monthly books in your own QuickBooks Online or Xero file. Plans start at $229/mo.
Best for: Independent physician practices, specialty clinics, urgent care and small group practices that bill insurers and patients.
Matched to deposits
Insurance payments
Reconciled
Patient balances
Organized
Provider pay
Tracked
Equipment
How Mispar keeps your practice books clean
Industry-specific accounts and categorization, with the reporting scope agreed before work starts.
Insurance remittances and deposits
Match insurer payment batches and explanation-of-benefits detail to what reached the bank, so one deposit is not booked as a single lump of revenue. Differences stay visible on an exceptions list.
Patient payments and open balances
Separate copays, patient-responsibility payments, refunds and write-offs from insurer receipts. Your billing system remains the record for individual patient accounts; we reconcile its totals to the books.
Provider compensation and payroll
Reconcile provider pay, staff wages and employer payroll costs to the payroll-provider reports each month, with owner draws and distributions kept apart from operating expenses.
Medical supplies and drug inventory
Categorize clinical supplies, lab fees and drug purchases separately from office costs so the monthly statements show what care actually costs to deliver.
Equipment, leases and loans
Track purchased equipment, leases and practice loans, with principal and interest separated so loan payments are not treated as expenses.
Merchant fees and software
Break out card processing fees, billing-software fees and clearinghouse charges so recurring costs are easy to review.
A simple, predictable process
From kickoff to your first clean close, here is exactly what happens.
Map your billing and payment sources
We list where money arrives: insurer payments, patient payments, card processors and any financing, and match each to a bank or merchant account.
Set up a practice chart of accounts
Revenue, supplies, provider pay and equipment are organized so the statements read like a practice, not a generic small business.
Reconcile each month
Deposits, payroll, card activity and bills are reconciled to the bank and card statements, with questions sent to you in one batch.
Deliver monthly statements
Monthly statements arrive ready for your CPA, with an open-items list for anything that needs your billing team.
Illustrative example
An insurer pays several visits in a single deposit that is smaller than the billed amounts. Matching the remittance detail shows which lines were adjusted or denied, so the difference is flagged for your billing team instead of being absorbed into revenue. This is an illustration of the method, not a customer case or a guarantee.
Medical Practices bookkeeping — your questions
Do you replace our billing system or practice management software?
No. Your billing system stays the record for individual patient accounts and claims. We reconcile its totals and the payments it produces to the bank and the general ledger.
Can you handle bookkeeping for a practice with several providers?
Yes. Provider compensation, payroll and any agreed provider-level reporting are set up in the chart of accounts. Detailed per-provider profitability depends on reliable records and is agreed as part of scope.
Do you see patient health information?
Bookkeeping should work from financial records such as deposits, remittance totals and bills. If a task would require patient-level information, we agree on how it is handled before starting, and you remain responsible for your own compliance obligations.
How are insurance payments and patient payments kept apart?
We separate insurer deposits from patient copays and balances using your remittance and payment reports, and reconcile each source to the bank so one deposit does not hide several payment types.
Our practice already has a QuickBooks file. Do we start over?
No. We work in your existing QuickBooks Online or Xero file, review what is there, and fix prior-period issues with you before building the monthly routine. You and your CPA keep full access.
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