Filling the Medical CFO Gap
PROVO, Utah – Jan 24, 2019 – Most people would balk at the hefty amount of financial expertise required to run a medical practice. Between tax compliance, financial records, and monitoring financial health, medical offices have a lot on their plates. But Benjamin Green, CPA, CMA, has successfully been helping medical and dental offices run their businesses since his graduation from the School of Accountancy at the BYU Marriott School of Business in 2016.
Green was introduced to the medical finances field while working at his father’s firm, a general CPA practice that worked with businesses and individuals. About half of the firm’s clients owned their own dental or medical practices.
After his father passed away, Green decided to open his own practice. “Ever since I was little, I always knew I wanted to be a business owner,” he says. Green opened his practice in June 2017 and functions as the CFO for medical and dental practices. The medical and dental finances industry is limited due to the extra financial services, such as billing tracking, required by the medical field. This makes a medically focused CPA firm revolutionary.
“The medical industry has a huge need for this type of service,” says Green. “Most practice owners want more from their CPA than just a tax return. Focusing on their industry allows me to be a better resource for their business questions and help them run their practice well.”
The effect of the firm’s services go beyond creating a more efficient medical office. Assisting clients with their finances can have a personal impact on those the company works with. When one client’s business was headed toward potential failure, Green offered to sit down and talk about the owner’s situation. “Instead of focusing only on the tax side of things, we talked about practices he could adopt to actually fix the business and keep it sustainable,” says Green. “We created a plan for him to move forward.”
By applying the principles they discussed, the owner turned around his business and is still a client today. Green later learned that he had given the owner the courage necessary to keep moving forward with his business. After feeling like he had been taken advantage of for years by others he had worked with, the owner had regained his self-confidence thanks to the plan he created with Green. “Meeting with him makes me happy because he is still happily running the business he wanted to keep,” says Green.
Green’s education gave him the technical base he needed to open his own successful practice. He graduated with his masters of accountancy degree with a tax emphasis from BYU Marriott and now lives in Spokane with his wife, Chantelle, and their three boys. “I am grateful to my professors and classmates who helped me make career choices,” he says. “The further I get in my career, the more I see the value of the advice they gave and the wisdom of their teaching approach.”
Media Contact: Chad Little (801) 422-1512
Writer: Ellen Ford