Helping Medical IT, MedTech, mHealth and HealthTech Business

You have a passion — to help people with medical conditions to bring together their doctors, hospitals, pharmacies, insurance carriers and concerned family members within one circle of communication through technology. Withum’s Digital Health Services Team is just as passionate and equally dedicated to helping you manage and meet your goals. We have extensive experience in servicing Digital Health subdivisions such as Tele Health, Artificial Intelligence, Remote Patient Monitoring and Mental Health.

MHealth

Our Technology specialists work with clients ranging from accelerators and boot-strapped startups to household names in the tech startup marketplace, specializing in tech markets such as software development, social media, e-commerce, systems/network integration and many others. Our Healthcare and Life Science specialists work with the top-rated hospitals, health systems, physician group practices and pharmaceutical companies in the region, giving them a deep understanding of the importance of a great patient-centered experience.

We appreciate your passion for innovation and “outside-the-box thinking” and we incorporate that in our service philosophy, as well.

Digital Health Services

Digital Health Challenges & Trends

R&D Tax Credits offer digital health companies a valuable financial incentive to invest in research and development efforts. These tax credits can substantially reduce the overall cost of innovation, allowing firms to allocate more resources towards developing cutting-edge healthcare solutions, improving patient care, and staying competitive in a rapidly evolving industry. Withum can help your business leverage R&D Tax Credits so your digital health company can drive technological advancements and strengthen its financial sustainability.

Learn more about R&D Tax Credits

HIPAA and SOC compliance are crucial for digital health companies as they mandate strict safeguards for protected health information (PHI). Digital health firms must implement robust security measures, strict privacy policies, and data management practices to make sure the confidentiality and integrity of patient data. Achieving HIPAA and SOC compliance will help your company avoid legal consequences and fines and establish trust among patients by demonstrating a commitment to maintaining the highest standards of healthcare data privacy and security. Our highly knowledgeable professionals can work with you to ensure your business is HIPAA and SOC compliant.

Learn more about HIPAA and SOC Compliance

The MSO-PC or Friendly PC model, which has been gaining popularity, is a legal structure often utilized by digital health companies to streamline operations and facilitate collaborations. This structure enables healthcare providers, such as physicians and other healthcare professionals, to partner with management services organizations to efficiently manage administrative and business aspects while maintaining control over clinical decision-making. This model has played a major role in facilitating the scaling of many virtual health businesses while adhering to the regulations set forth by the Corporate Practice of Medicine Laws (CPOM). However, there are several legal and tax considerations to be aware of to ensure that the business complies with the maze of rules between Federal and State laws. At Withum, our experts can help you work through these rules and regulations and ensure your business is in compliance with the law.

Learn more about MSO-PC or Friendly PC model

The management fee structure in digital health companies can have significant accounting and tax implications. Properly accounting for these fees is crucial to ensure accurate financial reporting. Depending on the structure and nature of the fees, they may be treated as operating expenses, affecting the company’s profitability and tax liability. Additionally, tax regulations may require careful consideration of whether these fees are deductible, potentially impacting the company’s overall tax strategy and financial performance. Our experts can help you navigate these complexities effectively.

Client Testimonial

Withum is a strategic partner delivering the highest standard of independence and quality professional services while also collaborating and supporting our business objectives and rapid growth as a healthtech startup. Withum provides an integrated suite of services that is critical to our success both now and over the long term.

Margie Kiesel – Avaneer Health, Chief Audit and Business Controls Officer | Avaneer Health

Contact Us

For more information or to discuss your business needs, contact Withum’s Digital Health Services Team.

Leadership

Alexander Dundara

Partner

East Brunswick, NJ

Christopher M. DeMayo

Partner

New York, NY

Luca Panarelli

Whippany, NJ

Anurag Sharma

Partner

Princeton, NJ - Corporate Headquarters


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