Why Choose Tyagi Group? A Deep Dive into Our Healthcare Financial Services
Selecting the Right Financial Partner
Think back to that momentous day when you opened your very own health practice. Maybe you weren’t thinking about selecting the right financial partner right at that moment when you made your first celebratory toast, but it’s definitely something to consider now that your business is up and running.
Statistics show that approximately 20% of businesses fail in their first year of business, and almost 50% will fail in their fifth year. A major factor in this is financial management.
These stats are not meant to scare you, but they should be a wake-up call – finding the right financial partner matters! Any business needs financial resources to operate. This involves how you spend your startup capital, short to long-term financial planning, management of cash flow and budgeting. A financial partner with a wide service selection that understands your health business is pivotal to your longevity.
Sneak Peak
Here’s what we uncover in this blog:
The Tyagi Group Advantage in Healthcare Finance
Client Success Stories with Tyagi Group
Comparing Tyagi Group with General Accounting Services
Making the Informed Choice
If you’re still in the process of finding your go-to bookkeeper, Tyagi Group has a FREE gift to help you keep your books up to date in the meantime. Get this free bookkeeping template so that quick access to accurate financial records is one less thing to worry about.
The Tyagi Group Advantage in Healthcare Finance
Healthcare finance is a niche on its own and deserves the right expertise to get it right.
Whether starting out as a healthcare professional in Canada or scaling up your business this year, you will face ongoing challenges unique to your industry, such as changes in medical insurance billing requirements, prescription drug price fluctuations, or rising and falling patient volumes based on seasonal illnesses or global pandemics.
Let’s take a look at the Tyagi Group advantage in helping you meet these challenges head-on.
We Know the Health Industry
The Tyagi Group advantage means that you get to work with a team of registered CPAs (chartered professional accountants) who are also deeply familiar with the health industry and have a vested interest in helping clinic owners like you. One of our bookkeepers, Lisa Knapper, practiced as a naturopathic doctor for over 13 years and brings specialist insight to your bookkeeping process.
Broad Service Spectrum
Healthcare finance can include many different aspects, which is why our services are not limited to only accounting or taxes. We’ve carefully designed our service spectrum to cover all the essential services you might need as a health professional, from financial advisory to tax education, bookkeeping and help with business registration.
Holistic Support for Health Businesses
Our clients at Tyagi Group love our holistic approach to accounting services. We go beyond numbers and spreadsheets, and we help you align your personal goals with your financial performance. We do our best to connect on an individual level, understand your challenges and provide tailored solutions.
Regular Strategy Sessions
Our support doesn’t end with tax season. We’re the kind of accountants who take a genuine interest in our clients’ financial well-being all year round! We’ll have regular strategy sessions with you to make sure you are on track and feeling confident about your income and expense management at all times.
Financial Empowerment
One of the biggest drawcards of the Tyagi Group advantage is that we believe in empowering you to take control of your own financial sustainability. We don’t just do your taxes or your bookkeeping; we also educate you through courses and blogs about important financial concepts and procedures, giving you clarity on how to manage your business finances better.
Abundant Online Resources
We also empower you in healthcare finances with an exciting collection of online resources, such as our Tax Calculator, Bookkeeping template and more. Some of these are free, and some are available for purchase on our website, giving you easy access to tools that will make your financial management easier and more enjoyable.
Client Success Stories with Tyagi Group
Here are some client success stories that illustrate the wonderful impact Tyagi Group has had on Canadian health professionals.
In the first scenario, Rachel C was in a place of confusion and uncertainty before consulting with us. We were able to bring a sense of clarity with the use of an analysis spreadsheet and explained everything to the client, leading to a heightened sense of relief and confidence for this client.
Rachel shared, “I felt they knew what was happening with everything and could help explain things to me so I too could understand. I always felt very confident I knew what was happening after our chats.”
Another client, Charity T, sought personalized support, which they found with our team.
“I appreciate the support for business planning, the yearly call, and knowledge specific to the natural health industry in Canada.”
We always love hearing about Tyagi Group experiences like this one that make a real difference in the lives of health professionals, who often don’t feel like traditional accounting firms understand or support them.
Comparing Tyagi Group with General Accounting Services
After reading some of the positive Tyagi Group experiences above, you may be eager to try it out for yourself. If you’re still unsure if this is the right fit for you, we’ve put together this service comparison to paint a clearer picture of how our services bring added value to your health practice compared to traditional accounting firms.
In your search for the right financial partner, you will most likely come across a few set types of accounting companies out there, ranging from small to big, cheap to expensive. Some of them may offer tax-only services, meaning that they will do your taxes for you or provide you with the tools to do them yourself; however, they provide no other services.
Then, there are bigger corporate accounting firms that may offer more services, such as bookkeeping and financial advisory. Yet, these are often based on a one-size-fits-all traditional approach and are unlikely to meet the specific needs of your health clinic.
As an all-in-one boutique agency, Tyagi Group shines a refreshing light on all accounting aspects that will help you elevate your finances, with our focus being on all-round added value for Canadian health professionals.
Making the Informed Choice
In the end, it all comes down to making an informed choice. As a new or existing health business owner, you’re ultimately going to be in charge of making the best financial decision for your practice.
It’s important that you choose a financial partner that understands your needs, goals and concerns, explains key financial concepts in a way you understand, and has specialist knowledge of the health industry and its financial intricacies.
Of course, there is no rule that says you have to be stuck with the first accounting firm you choose! If you fear you may have made the wrong choice, it’s okay to start over with someone new, as long as you feel comfortable that it's the best financial decision for the future sustainability of your health business.
Here are some key takeaways from this blog:
We discussed the importance of choosing the right financial partner, and in this case, one that has health industry expertise.
We looked at the Tyagi Group advantage, including holistic support, a broad range of services and financial empowerment.
We did a service comparison between Tyagi Group, tax-only firms and generalized corporate accounting firms to highlight the added value you get with us.
Now the ball is in your court. If you want to see your health practice not just survive but thrive this year, partner with us. We’ll help transform your business and financial mindset from uncertainty to clarity so you can focus on what you love doing most: helping your patients!
Take that step, book a FREE discovery call today for a worthwhile chat that will unlock your financial freedom.
