Blackmor, CPA works with the executive teams of hospice and home health agencies as a remote accounting department. Our average client saves 0.5% of Revenue on their finance labor compared to the industry and is more than twice as profitable from hospice operations. We make sense of the numbers and bring clarity and consistency to the month-end and year-end closing process. Armed with our timeliness and insight, hospice and home health agencies have the tools and the clarity they need to lead and communicate financial performance both to the board and internally to their leadership team.
We help home health and hospice CEOs gain confidence in their accounting team, system, and financial statements. While many accounting departments do a fair job of presenting data, we make sure our financial reports and commentary turn raw data into valuable information. That’s the Blackmor CPA difference.
We call our outsourced financial reporting and month-end closing package our “GPS” service. Why? Because we’re a clear, turn-by-turn road map for how a finance department should run. We standardize the accounting steps from start to finish to deliver your financial statements accurately and on time. Every time. We’ll also make sure your systems are properly aligned to maximize what you’re getting with what you already have—EMR/patient management system, payroll system, donor software, etc.
What Your Outsourced Blackmor Accounting Department Includes
We can help you put your financial reporting process on autopilot and take one more concern off your plate. Our services begin with the month-end accounting processes (after your staff have posted billing and payroll) all the way through to the financial statement preparation and delivery.
CYMA Accounting Software
Our services run on the backbone of a robust but streamlined accounting system called CYMA. CYMA makes entering journal entries a thing of the past, freeing up valuable time and ensuring accuracy down to the detailed journal entry level.
Monthly Accounting Closing Process
Our month-end procedures include all the typical accounting processes such as:
- Posting payroll, including accrued payroll and PTO/Vacation
- Posting and reconciling all bank transactions
- Posting and reconciling all revenue, adjustments and Accounts Receivable
- Posting all patient days, visits, and visit hours in the accounting system using statistical or ‘memo accounts’
- Posting all monthly investment activity
- Tracking and reconciling prepaid expenses
- Tracking and reconciling fixed assets and depreciation
- Tracking and reconciling any other payables or loans
Financial Statement Preparation
Once we are finished with the monthly accounting duties, on or around mid-month, we prepare the financial statements. We use the Multi-View (MVI) format and chart of accounts to prepare the financial statements in Excel using a tool called F9, and we also prepare and maintain the MVI Management Application. Due to our efficiencies, we meet all client deadlines after the initial 90-day on-boarding window.
We provide a higher level of service and deeper analysis than anyone else in our field, and we pair our service with the MVI Benchmarking service, because you can’t gain perspective in a vacuum. Then, we translate that data into information, presenting a succinct snapshot of your performance in ‘plain English’ terms instead of technical jargon. Our aim here is to educate, not obfuscate.
Why Blackmor CPA
Because you need someone in your corner. We tailor our processes and outputs to suit the needs of the CEO. That way, when you meet with your managers or your board of directors, you’ll never feel unprepared or unsure about your financial position. We make the following commitments to our clients:
- Information – You will always know the financial picture of their organization
- Accuracy – Your reports will be materially accurate
- Standardization – Your reports will be in standard format
- Timeliness – Your reports will be on time
The Blackmor CPA team has worked with a few dozen hospices over many years, which collectively amounts to an equivalent of thousands of month-end closings and prepared financial statements.
Blackmor, CPA Founder and President Aaron Blackmor is a licensed CPA who has a Bachelor’s in Accounting and Master’s in Information Technology, combining a great love of numbers with a passion for efficient IT systems and processes. Aaron has exclusively served the hospice industry for nearly a decade of his career, most recently managing a division of Multi-View Incorporated Systems and also as Chief Financial Officer of Richmond County Hospice. He also has experience as a financial consultant and auditor.
I would like to take this opportunity to recognize the amazing work that Aaron & his team have done for CompassionCare Hospice for the past 10 years. I have had the pleasure of working with Aaron directly for the past 4 years in my position as Executive Director of CompassionCare Hospice, and have found him to be extremely knowledgeable about the business of Hospice. Aaron’s attention to detail, and passion for what he does makes him one of the best in his field.
-Laurie Indvik, Executive Director at CompassionCare Hospice (Las Vegas, NV)
Blackmor CPA Accounting Management Options
Long-Term Accounting Solutions
When our clients team up with us for the long haul, they surpasses their peers at more than double the profit margin of the industry median and nearly one-third less total finance labor—including the cost of our services. That’s why the average long-term client sees at least a 100% ROI after one year of service: not only are they saving money, but with accurate and timely accounting information, they also make better management decisions.
Short-Term Accounting Solutions
We also recognize that sometimes you just need someone to “pinch hit” for your team. Whether it’s a leave of absence or a turnover in a key position, we can help fill in the void of a leadership or accounting vacancy.
The cost of a bad hiring decision, particularly in a ‘C-level’ position, is many times the person’s annual salary. Let us buy you time by filling in so you can do the appropriate research for your next position.