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Mental Health CPA Accounting Specialists

Mental Health CPA Accounting Specialists


by Hugh Duffy

Mental Health CPA Accounting Specialists

Over the past five years, the accounting niche for medical doctors has evaporated. By all means, the need is still there but the days of single owner medical practices has imploded with hospitals and larger medical practice groups buying out small operators. Consolidation has been rapid and everywhere.

That said, there has been a move towards mental health and substance abuse niches. Everything from psychiatrists, social workers, psychologists, substance abuse centers and even telehealth professionals need accounting and tax guidance. The reason that we are seeing more interest is because most accountants realize:

- mental health professionals are typically single owner businesses (one decision maker) 

- no need for attest related services (no audits or reviews)

- no inventory to deal with

- growth exists in each segment, especially substance abuse

- mental health professionals are educated professionals who want to be compliant with laws

- simple QBO clients with a need for tax and retirement planning

If you want to acquire single owner medical businesses who are low risk and will not be consolidated, then this should be worth considering. Here is an example Michigan based CPA firm targeting mental health professionals, substance abuse and telehealth professionals across the midwest.

Strategic CPA

Here are other examples:

New Jersey CPA for Mental Health Professionals

Belbol & Associates

Maryland CPA for Mental Health Professionals 

Leichter Accounting Services, LLC

Hugh Duffy