Psychiatry & Psychology Practice Accounting
Fairlight CPA does the bookkeeping, tax, and financial reporting for psychiatry and psychology practices — from solo prescribers to blended med-management-and-therapy groups. We keep the economics of each service line, payer arrangement, and telehealth mix clear.
✓ Books closed by the 15th ✓ Fixed monthly fees ✓ CPA-led team
The numbers problems psychiatry & psychology practices actually have
Med management and therapy are different businesses
A 15-minute med check and a 53-minute therapy session bill, staff, and scale completely differently. One revenue line across both hides where the practice actually earns.
Out-of-network runs on superbills and hope
OON practices live on patient reimbursement behavior. Without tracking billed-versus-collected by arrangement, the real collection rate is a guess.
Telehealth blurs state lines
Seeing patients across states raises licensing-linked billing questions and, for the owner, multi-state tax exposure that deserves attention before it accumulates.
High-margin practices get lazy books
Strong cash flow hides sloppy categorization — until an S-corp election, retirement-plan decision, or sale conversation needs clean numbers fast.
What Fairlight takes off your plate
The core engagement is the same discipline we run for every client — monthly close by the 15th, payroll, tax, and CFO-level reporting — built around how psychiatry & psychology practices actually make and spend money.
- Revenue split by service line — med management, therapy, evaluations — and by payer arrangement
- Out-of-network and private-pay tracking with realized collection rates
- Monthly close by the 15th; clean books that hold up for lending, plan design, or sale
- Payroll and owner-comp structuring alongside your retirement-plan choices
- Business and personal tax prep with quarterly estimates that track the practice's actual pace
The three numbers we keep in front of you
No fabricated benchmarks — your own numbers, measured the same way every month, so trends are real and decisions have a floor under them.
Revenue per clinical hour
by service line, so scheduling decisions follow the economics
Realized collection rate
billed versus collected across insurance, OON, and private-pay
Owner take-home efficiency
practice profit to owner after tax structure — the number that funds your life
Revenue cycle & tax notes
Revenue & reconciliation
Whether you're insurance-based, out-of-network, or hybrid, we reconcile remittances, patient payments, and platform payouts to the appointment log monthly, so the collection rate is measured rather than assumed.
Tax & entity
High-income practice owners have real levers — S-corp comp design, defined-benefit and solo-401(k) layering, and QBI phaseout management; we run the numbers before year-end while they can still move.
Simple, published pricing
Bookkeeping from $310/mo · All-In-One (books + tax + advisory) from $800/mo. Every fee is quoted and fixed in writing before any work begins.
Psychiatry & Psychology accounting FAQs
I'm a solo prescriber — is this overkill?
The monthly work is small at solo scale; the value concentrates in structure — owner comp, retirement design, and estimates. The bookkeeping keeps those decisions grounded and audit-ready.
We're mostly out-of-network — what changes?
Your key number becomes the realized collection rate on superbilled care, tracked by CPT band. We measure it monthly so pricing and payer-mix choices use data, not anecdotes.
What does it cost?
Bookkeeping from $310/month; All-In-One (books + tax + advisory) from $800/month. Exact fee fixed in writing after a short call.
Related healthcare specialties
Get the financial side handled
A free 15-minute call — bring your current setup, leave knowing exactly what clean, specialty-aware books look like for psychiatry & psychology practices.
The content on this page is for informational purposes only and does not constitute professional tax advice. Accounting and tax considerations for healthcare practices depend on individual facts and circumstances and are subject to change. See our full legal disclaimer.