Bookkeeper for Physical Therapists
Keep insurance reimbursements, patient payments, payroll, and equipment tracked and reconciled, so your books stay accurate and you know your practice's true cash flow.
Quick Answers
For Physical Therapists, Bookkeeping Is About More Than Tracking Income and Expenses.
What does bookkeeping cost for physical therapists?
Our bookkeeping starts at $300 a month, flat, and the exact price depends on how many transactions you have and how complex your books are. We don't surprise you with hourly rates. You'll know the cost up front, and we'll tell you if your situation changes.
How should physical therapists track insurance reimbursements and cash-pay sessions?
Physical therapists often run two different businesses: cash-pay and insurance-based. Each has its own revenue stream and its own timing. We set up your books so insurance reimbursements, copays, and cash-pay fees each have their own line, and we keep an eye on the receivables that wait 30 to 90 days for an insurer to pay.
Challenges
The Physical Therapy Bookkeeping Challenges
My Bookkeeper Stopped Responding to Me
You need an answer about payroll or your CPA is asking about the insurance money, and days go by without a reply. The books may be technically getting done, but you can't rely on the person when you actually have a question.Read The Breakdown ›I'm Behind on My Books
Between patient sessions and claim paperwork, nobody has time to keep the books current. Months slide by and tax season becomes a scramble. You want to know where the money stands, and the books just don't tell you.Read The Breakdown ›The Books Are Done but Don't Help
Statements look fine but lump all revenue into one line. Session fees, copays, and insurance reimbursement are mixed, so you can't see which part actually makes money. The number you need isn't in the reports.Read The Breakdown ›The Insurance Payment Is Weeks Away
The session is done and the invoice goes out, but the payment can take 30 to 90 days to arrive. That wait means the books show revenue before the cash is real. You can have a profitable month on paper and a bank account that doesn't show it.Read The Breakdown ›Payroll Eats Half the Revenue
Payroll runs close to half of every dollar the clinic brings in. When you pay a therapist by a share of production, the books have to show what each actually generated and what you still owe them.Read The Breakdown ›Can I Afford a New Therapist?
The waiting list is full and the next growth step is hiring another therapist. A new hire at $75,000 a year needs to bring in three or four times that in revenue, and that number should come out of the books. The reports today don't answer it.Read The Breakdown ›
Our Services
Our Services for Physical Therapists
The monthly, catch-up, and clean-up bookkeeping that keeps a physical therapy clinic's books current, corrected, or rebuilt from scratch.
Monthly Bookkeeping for Physical Therapists
For physical therapists who are still doing the books themselves or whose bookkeeper does not call back. Session fees, insurance reimbursements, and copays are recorded as separate income lines, the money insurers still owe is tracked, and accounts are reconciled each month. You get clean monthly reporting that shows what the practice is earning and where the money is going.
Explore Monthly Bookkeeping ›Catch-Up Bookkeeping for Physical Therapists
For physical therapists whose books are several months behind. The missing months are rebuilt, bank and credit card statements are reconciled against insurance and patient payments, and income is organized by the practices. You end up fully caught up, with what the insurers owe you visible, and ready for regular monthly bookkeeping.
Explore Catch-Up ›Clean-Up Bookkeeping for Physical Therapists
For physical therapists whose books are current but inaccurate. Old transactions are unreviewed, cash-pay income is separated from insurance reimbursements and copays that got mixed together, and payroll is moved out of the wrong expense lines. You get a reliable set of books you can carry into the next month.
Explore Cleanup ›
Client Results
What Our Clients Say
They caught up our books quickly! , I was trying to figure out if I should hire an assistant to help free the business. They walked me through everything, honestly such a helpful call. Left feeling like I actually knew what to do next.
Wade MarcyJune 2026Incredibly responsive team. They got back to me almost immediately and had everything knocked out in a day. The whole experience was smooth and efficient. Would definitely recommend to anyone looking for quick, reliable service.
Michael WrightJune 2026Recently, we were introduced to Matt for bookkeeping services, and our experience has been excellent. Matt has been highly responsive, engaged, prompt in his communication, and consistently professional in his approach. We’ve appreciated his attention to detail and willingness to assist, and we would not hesitate to recommend his bookkeeping services to others.
Michael TurgeonJune 2026
Why Equipped
Why Equipped, for Physical Therapists
The fast answers, reliable books, and owner-ready reports that keep a physical therapy practice moving.
You Won't Have to Chase Us for an Answer
When you have a question about a reimbursement that hasn't arrived or a payroll figure that looks off, you hear back the same business day. You spend your day treating patients, not waiting for a bookkeeper, and you get the answer while the decision is still in front of you.
Financials That Help You Run the Business
We organize your books so you know where the clinic makes money and where it doesn't, what payroll eats per visit, and how cash-pay compares to insurance. You get financials that tell whether your next hire or raise makes sense.
Books You Can Rely On
We reconcile your books to your bank statements and insurance deposits and review the work before it reaches you. A physical therapist waits 30 to 90 days on insurance money, so a mix between paid and owed is fatal. Ours checks out.
Bookkeeping Built Around What Owners Actually Need
Our team ran small businesses before doing bookkeeping for them. We've lived the month of sessions piling up while revenue sits in a payer queue, and we built Equipped to answer what an owner needs most: same-day responses, correct books, and reports you're actually able to steer with.
Next step
Get a Quote on Your Bookkeeping
Tell us where your books stand and how your practice gets paid. We'll work out what you need and give you a clear quote before anything starts.
In-Depth Guide
The Physical Therapy Bookkeeping Guide
Here is what good bookkeeping actually looks like for a physical therapy practice. It is the difference between knowing whether you are profitable and just hoping you are.
The way a physical therapy practice makes money shapes its entire set of books. Some practices collect at the front desk as the patient leaves. Others bill insurers and wait a month or more for payment.
What does money flow look like in a physical therapy practice?
Money comes from three places: session fees, insurance reimbursements, and co-pays, and each one lands in your bank account at a different time.
In a cash-pay practice, the patient pays at service, so the money is in your account the same day. In an insurance-based practice, you bill the visit, wait for the claim, and the pay can take 30 to 90 days. That wait is not a one-off; it is a constant feature. Your aging report shows exactly how much is stuck in that wait.
| Revenue source | When cash lands | How it is recorded |
|---|---|---|
| Cash-pay sessions | At time of service | Recorded as income immediately |
| Insurance reimbursements | 30-90 days after claim | Recorded as income when received, but you must track the receivable |
| Co-pays | At time of service | Recorded as income when collected |
This matters because the biggest mistake we see is treating the insurance money you billed as if it were already in your account. It is not. The books need to show what is owed, not just what has arrived.
What costs eat the most revenue?
Payroll is largest, typically eating about 49 cents of every dollar of revenue, and total can run 80 to 90 percent.
Therapists' salaries and employer taxes are the biggest chunk. That is why your books need to separate payroll from other operating costs, so you see the true cost of each clinician. Equipment purchases like tables and treadmills are depreciated over years, not counted as a monthly cost.
The exact profit margin for a practice is not a single number you can rely on. Sources range from 10 to 20 percent for successful practices, others say 2 to 8, and the only public company sits at 3 to 9. Your books are the only way to know your own number.
What do bookkeeping mistakes look like in this trade?
The most common errors: treating uncollected insurance as income, mixing cash-pay and insurance revenue, and forgetting to separate co-pays.
A practice that keeps everything in one big revenue account. If you only take cash, that works, but blending the two hides which parts pay for themselves. Another frequent error is not hand tracking the aging of insurance receivables. If a claim is 60 days old, your books should show it.
Equipment is another spot. If you expense a $2,000 treadmill in the month you buy it, your profit that month looks terrible and the next months look artificially at. Depreciating it over five or seven years gives a clearer picture.
What should be tracked separately?
Separate categories for cash-pay work and insurance work, plus separate lines for session fees, reimbursements, and co-pays.
Your revenue accounts are split into at least those three buckets. Track each therapist separately if you have more than one, because payroll is your biggest cost and you need to know if each clinician covers their own overhead. Multiple locations get separate profit and loss.
Which reports matter most for a PT practice?
The profit and loss statement, accounts receivable aging report, and break-even analysis are the three reports that tell you if practice is actually viable.
P&L shows overall revenue and expenses but not what you are still owed. The aging report lists every unpaid claim by how old it is, so you see if $20,000 sits in 45-day-old claims about to become 60. Break-even answers how many visits to keep the doors open.
A cash flow forecast is also useful, because even profitable practices can run out of cash if insurance money is slow.
What decisions should the books support?
Your books should tell you whether you can afford another hire, what to charge for a session, and whether a cash-pay model would work.
When hiring, a heuristic is that clinician salary should be no more than about a third of the revenue they bring in. At $75,000, that therapist needs to generate $225,000 or more. Your books show what the current therapists bring in per visit.
Pricing is another decision: if you know your cost per visit, you can set a fee that covers it and see the volume needed to break even. If insurers keep shrinking, the books will show whether cash-pay is the move.
How It Works
Getting Started Is Straightforward
Your First Month
Review
Review the business and current books
We identify what's working and what isn't so you know exactly where you stand.
Quote
Explain the findings and give a flat quote
You know the price up front, no surprises.
Setup
Get the books into the right starting condition
Messy or behind books are not a problem; we handle it.
Monthly
Take over the monthly bookkeeping
Your involvement stays low, and we're always available.
Who reviews your books
The Person Accountable for Your Books
Your books are not handed off to an anonymous team with no clear owner. Matt oversees the quality of the bookkeeping and reviews the financial reporting before it reaches you.
Matt Cavanaugh
Founder, Equipped Bookkeeping
Yes. We work with both cash-pay and insurance-based practices. We understand the timing difference in revenue, and we set up your books to match.
Absolutely. Behind is common. We get the missing months caught up first, fix anything that needs fixing, and keep everything current.
Monthly bookkeeping starts at $300 a month, flat rate. The final price depends on the size and complexity of your practice.
Yes. We work alongside your tax professional. We handle the books and keep records clean, so your CPA does their job without chasing receipts.
We don't run payroll, but we handle the bookkeeping side. Your payroll provider processes checks and filings; we make sure everything shows up correctly in your books.
We don't prepare taxes, but we work with your tax accountant. We keep your books organized and reconciled so tax season is straightforward.
We work in the software you already use. If you already use it, great. If not, we help you move over or set it up from scratch.
We track those as accounts receivable. When you bill an insurer, we record it as expected income. When the payment arrives, we match it to that claim and reconcile it. You always know what's still owed.
Yes. We set up the chart of accounts with separate lines for session fees, co-pays, and insurance reimbursements. That way you see exactly what each source brings in.
We record them as fixed assets and depreciate them over time. That means you're not taking a big hit in one month; the cost is spread out over the life of the equipment.
Ready to Get Your Books Off Your Plate?
Tell us where your books stand and what you need help with. We'll take a look, tell you what we recommend, and give you a clear flat-rate quote before anything starts.