Miami Health Care Accountants Optimistic about Business Growth
Health Care Accountants are more optimistic about business growth predictions for 2012 in their respective states than the nation as a whole
Accountants are more optimistic about business growth predictions for 2021 in their respective states than the nation as a whole, according to a new survey of Accountants in Florida, Texas, and California.
Those polled were most confident about the Health Care Industry, and their own Health Care Accountants. Information technology tops the list of capital investments planned in the coming year. Survey respondents also anticipate some new hiring in the next 12 months. Health care costs continue to be a top concern of businesses along with government regulation and uncertainty in the tax laws.
The poll was conducted for the Health Industry and the Institute of CPAs.
It polled nearly 13,000 Health Care Accountants who are partners or sole owners of public Health Care Accountants or serve as CEOs, CFOs, or presidents of companies in various industries. More than 2,100 Health Care Accountants completed the survey.
“The poll showed that Accountants in the three states feel confident about the prospects for growth in the Health Care Accountants industries they work in and serve, but still have concerns about factors beyond their control”, said Accountants Viera Accountants in Miami in a statement. This includes increasing health care costs and government regulation, and the lack of available credit to grow theirs or their clients’ businesses.”
Only 6 percent of the Health Care Accountants who responded predict robust growth in the United States, but the numbers climb as they evaluated the growth outlook for their own state (9 percent), Health Care Accounting Service industry (20 percent), and organization (26 percent).
The Accountants surveyed did not report significant decreases in workforce or revenues since the financial crises took hold, and say they expect both areas to increase marginally in the next year. These Health Care Accountants’ business leaders expect marginal (53 percent) or substantial (7 percent) revenue growth in the next year, with marginal (32 percent) and substantial (2 percent) growth in employment. Less than 10 percent of respondents predict a reduction in employment.
Information technology topped the list of investment and spending priorities over the next year. Sixty percent of the surveyed Health Care Accountants said their organizations plan to invest marginally or significantly more in this area followed by 40 percent planning capital spending increases. Product development and marketing/advertising will remain relatively flat with more than 50 percent citing no change in either category.
Health Care Accountants and their clients listed the ability to obtain funding as a significant area of concern. Approximately 76 percent do not think small businesses have access to adequate credit to grow or sustain their operations. The financial crisis and forecasts for slow growth greatly reduce their or their clients’ ability to obtain loans, according to 70 percent of the Health Care Accountants polled. Health Care Accountants also cite health care costs as a concern, with 98 percent of those surveyed responding affirmatively when asked if the cost of health care benefits was a worry for businesses in their states.
Some are looking into this area for savings, with 94 percent agreeing that companies are reevaluating employee/benefit costs, while 63 percent are aware of companies dropping or reducing employee health insurance coverage. Labor costs, workers’ compensation, and public pension funding were also seen as problems, with public pension exposure taking the highest percentage among the three.
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