Our Clients

Our clients conduct business nationwide and internationally. They range in size from small business to multi-billion dollar enterprises and are located in West Virginia, Ohio, Kentucky, Maryland, Virginia, North Carolina, Tennessee, Pennsylvania, Indiana, Arizona, Texas, Florida and Washington D.C.

Our Services - SOLUTIONS TO COMPLEX PROBLEMS:

As the following list is by no means all-inclusive, please feel free to inquire about services not listed.

Assurance and Accounting

Business Tax

For more information contact one of the following:

Dennis F. Ashworth, Jr., CPA
Robert C. (Rob) Fuller, CPA
Beverly A. Miller, CPA
Michael W. Gerber, CPA

Healthcare has been a substantial portion of our practice since the founding of the firm. We have worked with the Medicare and Medicaid programs since their inceptions, developing a tradition of reimbursement expertise that continues today. Due to our concentration in the healthcare industry, we maintain a professional staff that specializes in healthcare and governmental issues. Following is a list of the types of services we offer our healthcare clients.

Audit and Accounting

Reimbursement Consulting

Strategic Planning and Management Support

Tax Services

For more information contact:

Richard A. Eskins, CPA, FHFMA, CGFM
Dennis F. Ashworth, Jr., CPA

Jerome Hayflich founded our firm in 1952.  According to legend, Mr. Hayflich studied and memorized the U.S. Tax Code while sitting in foxholes during World War II.   The U.S. Tax Code, together with regulations, rulings, and procedures, is now more than 1 million pages, so it may no longer be possible to memorize.  However, our firm is committed to staying abreast of the tax laws to identify important tax planning opportunities that minimize our clients' current and future tax liabilities. 

The following is a list of our tax planning services.

Individual Tax

Financial Planning

For more information contact one of the following:

John R. LaFear, CPA/PFS
Ralph J. Wilson, CPA
Aaron J. Heighton, CPA, CVA

Intertwined with our healthcare practice is our service to state and local governments and other types of not-for-profit entities. The staff members who specialize in healthcare and governmental services comply with continuing education requirements in accordance with Government Auditing Standards and supplement this with technical literature and periodicals provided in our reference library. Some firm members are involved in the Association of Government Accountants. Some are certified government financial managers. Following is a list of the types of services we offer to state and local governments.

Audit and Accounting

• Audits under Government Auditing Standards
• Single audits (OMB Circular A-133)
• Audits of employee benefit plans
• Financial and operational analysis
• Cost proposals
• Accounting estimates

Consulting

• Internal control consultation
• Budgeting assistance
• Forecasts and projections
• Compliance with grant requirements
• Agency reporting

For more information contact:

Dennis F. Ashworth, Jr., CPA
Richard A. Eskins, CPA, FHFMA, CGFM
Robert C. (Rob) Fuller, CPA
Rick A. Galloway, CPA

As financial professionals, we often hear the question, "How much is my business worth?" Rarely is an answer to this question easily obtained. Business owners, bankers and attorneys increasingly realize that businesses often have values far in excess of their tangible assets. Our financial professionals possess attributes, such as demonstrated expertise in accounting, financial analysis and tax issues related to valuation, which make them uniquely qualified to perform business valuations. A number of activities require accurate business valuations, including:

• Mergers
• Acquisitions
• Spin-offs
• Initial public offerings
• Allocations of acquisition price
• Adequacy of life insurance
• Liquidation or reorganization of a business
• Litigation
• Buy-sell agreements
• Divorce
• Minority shareholder interests
• Compensatory damage cases
• Financing
• Insurance claims
• Employee stock ownership plans
• Estate and gift taxes
• Incentive stock option considerations
• Charitable contributions
• Return on investment analysis
• Government actions

For more information contact one of the following:

Robert J. Olds, EA, CBA
Aaron J. Heighton, CPA, CVA
Richard A. Eskins, CPA, FHFMA, CGFM

Estate Planning

What will happen to your property when you die? Everything you own at the time of your death may be considered part of your estate -­ your home, business, investments, insurance policies, and any other assets. Without expert counsel and careful estate planning, your assets may be exposed to excessive taxation and distributed in a manner contrary to your wishes. Estate planning is complex and continuous. The comfort and welfare of our clients and their families is our prime concern. We have the experience and expertise to identify your goals and the means to accomplish those goals while protecting your assets. We also place great emphasis on estate tax savings. To assist you in developing a comprehensive estate plan, we provide the following services:

• Gather and analyze information with respect to your assets and liabilities and personal requirements
• Evaluate the tax implications of your wills, contracts and ownership
• Calculate estate liquidity
• Analyze appropriate use of the marital deduction and residuary trusts
• Review the implications of "generation skipping"
• Analyze insurance holdings including the use of life insurance trusts
• Determine ways to reduce taxes and administration expenses
• Review tax efficient methods for making charitable contributions
• Evaluate potential inheritances and cash flow for heirs

Succession Planning

Many of our clients are owners of closely held businesses. The process of passing the mantle from one generation to another often requires difficult decisions. We know from our experiences that emotions are an important part of this process. We also know that to be successful in this endeavor, planning must take into account:

• How will the family benefit?
• How will the business continue?
• Who will take charge?
• How can potential estate taxes be reduced?
• How we can provide for the negative financial impact that the death of the founder will have on the business?

For more information contact one of the following:

Robert J. Olds, EA, CBA
Aaron J. Heighton, CPA, CVA

The long-term success of your retirement plan depends greatly on initial design. Installing a retirement plan for you and your employees is much more than simply signing documents. Most employers are surprised to learn of the multitude of options available when a retirement program is carefully constructed by knowledgeable professionals.

We offer:

John R. LaFear, CPA/PFS
J. Fred Wolfe, CPA

The health care industry is complex and the regulations are constantly changing.  Physicians, Dentists, and Other Medical Professionals need an advisor who understands the unique challenges and opportunities medical professionals face competing in the industry.  Medical Professionals need an experienced practice management consultant, a qualified CPA... someone who can provide you with sound financial strategy and is committed to helping improve your practice and your bottom line.  Hayflich & Steinberg is a member of the National CPA Health Care Advisors Association (HCAA).  HCAA is a nationwide network of CPA firms devoted to serving the health care industry.  Members are selected for their experience and ability to provide proactive solutions to the professional needs of medical professionals.  The following describes services we offer medical professionals:     

Consulting Services

Success in managing a medical practice requires specialized knowledge and the application of idiomatic tools and resources (such as RBRVS and the Medicare fee structure, CPT and ICD-9 coding nomenclature, other procedure relative value resources, Medicare utilization data, etc). We are experienced in applying these tools. We maintain a comprehensive library of Medicare resources including all Medicare manuals, law, regulations, and related information.  The following is a comprehensive list of services we provide our Physician, Dentist, and Other Medical Professional Clients:

• Utilization review (CPT codes)
• Fee schedule development or review
• Physician productivity analysis
• Revenue sharing agreement
• Procedure cost analysis
• State & Local tax issues
• Physician bonus methodologies
• Medicare issues (law and regulation research)
• Information Technology advisory services
• Practice valuation services

Medical Practice Structure and Governance

Physician contracts and agreements are often overlooked at the beginning of an association. This oversight frequently results in egregious financial misunderstandings and inequities. We have extensive experience in dealing with contractual issues peculiar to medical practices.     

    Traditional Accounting and Tax Services

We provide the traditional tax and accounting services necessary for the medical professional to have a successful practice.  The professionals we commit to an engagement have an extensive accounting, and business tax background. Their experience and knowledge enable them to serve the many accounting and business tax challenges that medical practices face daily.

    Accounting Services

    Business Tax

For more information contact one of the following:

John R. LaFear, CPA/PFS
Beverly A. Miller, CPA

For more information on the National CPA Health Care Advisors Association (HCAA) visit HCAA at:
www.hcaa.com