Professional Practice Health Check

You have dedicated your career to looking after the health of others. We’ve dedicated ours to the health of your practice. To check in on where your practice stands, our team analyzes five key areas.

Where Your Practice Stands 

By looking into these areas of your practice, we can identify opportunities for growth and provide solutions to challenges. 

  • Forensics 
    Without proper levels of diligence, fraud can easily slip by undetected in a professional practice. We help protect your practice from fraud by conducting a semi-annual review of your banking, accounting, and data transactions. Not only will you be more easily able to spot and resolve instances of fraud, potential fraudsters will be deterred by the knowledge that you are actively monitoring your financial risks. 
  • Operational Effectiveness 
    Our team can help you identify opportunities for improving your operations and profitability. By understanding the risks unique to your practice, we ensure the processes and controls supporting the practice are properly designed, from booking patient appointments through to establishing financial reports and performance measures to support you in monitoring the success of your business.  
  • Privacy Services 
    One of the biggest challenges for professional practices is the collection, recording and retention of the significant amount of confidential client information you receive. Professional practices are required to comply with certain privacy legislation, but lack the appropriate controls in place to support compliance with privacy legislation. We help you meet requirements by developing a customized framework and an internal control structure aligned with your information systems. 
  • Cyber Security 
    Cybercrime is evolving and professional practices are a frequent target. Protect your practice with thorough cyber security plans and stay ahead of the curve with the help of advisors who monitor ongoing trends. 
  • Business Resilience 
    Building a successful practice is hard work but sustaining it can be just as tough. Business resiliency plans help ensure your long-term viability while delivering peace of mind that you’re ready for what comes next. 

    Insights

    • Performance
      A building surrounded by trees on both sides

      February 25, 2021

      2021 Alberta Budget Highlights

      Alberta Finance Minister Travis Toews tabled the provincial Government’s 2021 budget on February 25, 2021.  

    • Confidence

      February 23, 2021

      Reduce your contract risk

      Make sure there are no grey areas when building a contract that could result in disputes and disappointments. In MNP’s whitepaper, Avoid Contract Ambiguity, we look at the three key features a solid contract delivers – clarity, due diligence and compliance – and how the objective and independent view of an experienced accountant can add to lawyers’ expertise.

    • Progress
      Glass office building

      February 23, 2021

      Middle Market M&A Update - Q4 2020

      Aggregate deal value for the quarter increased to $4 billion across 66 transactions. By comparison Q3 totalled $3.5 billion in aggregate deal value across 54 disclosed transactions. Increased deal volumes suggests that investor sentiment is increasingly positive, especially as the vaccine roll-out commences and economic normalization is expected.

    Contact our Professionals Team

    Calvin Carpenter

    Calvin Carpenter CPA, CA

    Vice President, Professional Services

    Calvin Carpenter, CPA, CA, is the Vice President of MNP’s Professional Services team. Working closely with medical and dental professionals, Calvin provides valuable advice to help clients reach their business and personal goals. Calvin’s experience in forecasting, tax planning and other key areas helps ensure his clients have a sound strategy for the future. He specializes in developing customized plans for clients interested in starting or purchasing their own practice.

    Calvin also advises owner-managers on how to operate their businesses as efficiently and effectively as possible. Through performance management, industry benchmarking, tax planning and other essential tools, he helps his clients measure their business performance and enhance profitability. Calvin is dedicated to providing his clients with information that empowers them to make informed business decisions. He has given presentations to medical and dental groups on various key issue areas such as incorporation, Canadian tax updates, corporate investment strategies, GST, fraud and practice transition.

    Calvin earned his Chartered Accountant (CA) designation from the Alberta Institute of Chartered Accountants in 1990. He completed a Bachelor of Management degree from the University of Lethbridge in 1986.