Plano Women's Healthcare
Client: Plano Women’s Healthcare
Line of Business: Healthcare
Contact: Dr. Arlene Jacobs
Weaver becomes integral member of healthcare team
When Arlene Jacobs and her business partner, Lisa Umholtz, launched their medical practice in 1989, little did they know that it would someday grow to be the largest and one of the most respected obstetrics-gynecological group practices in Plano.
“Weaver helped us set up our practice,” says Dr. Jacobs, who says that Mike Hirsh, a Weaver tax partner, immediately “helped us structure the type of entity to practice in. Reliable tax advice was very important when we became a corporation.”
She points out that, on Hirsh’s recommendation, “We started right out with computers” for billing, scheduling, and other needs, “which was rather unusual at that time.” They never had to make the switch from manual to computerized data that so many other medical offices had to endure.
When the former Jacobs and Umholtz, PA, added their fourth physician, they felt it was time to change their practice name to Plano Women’s Healthcare. Today, the all-woman practice has grown from a total of five employees to more than 40 in two locations, including a Frisco office opened in 2004. A sixth physician will be joining the group.
Weaver “helped us decide how feasible it might be to open that second office,” explains Dr. Jacobs. “Could we afford a new partner, and what other economic issues would we face?” She notes that Hirsh personally met with every potential partner before that doctor was hired, to explain in detail the terms of the corporation’s ownership and compensation structure.
Dr. Jacobs says that Weaver has been invaluable in terms of practice management advice. “We are a large practice now, so we have to be sure we are in compliance and that all our policies and procedures are up to date. There is so much more to consider with a big medical practice.”
Periodically, Weaver surveys the practice, focusing, for example, on the internal accounting controls and policies for improved checks and balances.
In addition, Weaver has advised Dr. Jacobs on issues such as establishing 401(K)s and retirement plans for herself, her partners, and their employees.
She continues, “I always feel that Weaver has me in their best interest,” so much so that her family and those of other partners in the practice have engaged Weaver for their personal tax advice.
Dr. Jacobs says, “Mike is always available to our office manager when she has questions. He has tremendous integrity, he’s very conscientious, and you know if he approves something, it’s going to be accurate.” In fact, she says, “He probably knows more about the inner workings of my practice than I do! He’s an integral member of our team.”
Dr. Arlene Jacobs
Physician, Partner
Plano Women’s Healthcare
www.planowomenshealthcare.com
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