We can help in a number of different ways. We have been brought in directly by the CEO, CFO, Controller, CIO or Revenue Cycle Director or been recommended by CPA Firms and Bankers to their clients. Read below for examples of what services could be provided based on the initial contact and when to bring us in.
Chief Executive Officer
- When the Organization is Experiencing Financial Difficulties
- Need an Interim CFO
- The Current CFO Needs Mentoring/Support
- When Finance Related Projects are Not Getting Done and Do not Know Why
- Want an Independent Review of the Finance Department
- Board of Directors are Having Concerns
- Want an Outside the Organization Viewpoint on Strategic Direction and Profitability
- Need Additional Bandwidth in the Finance Department to get Projects on List Completed
- Existing Staff Need Mentoring/Support
- Need an Interim Controller/Revenue Cycle Director
- Need Additional Project Management Support for Finance Driven Projects that Involve other Departments
- Want an Independent review of the Finance Department or Revenue Cycle Staff and Operations or other Areas that Report to CFO
- Need High End Financial Expertise to Perform or Review Financial Projections/Analyze Financial Statements/Perform Return on Investment Analysis/Help Identify Opportunities for Financial Improvement for Internal or External parties
- Due Diligence Assistance
- Analysis of the Hospital Owned Physician Practice
- Need Additional Bandwidth in the Finance Department to get Projects on List Completed ; Examples could be Budgeting, Grants, Cost Report or DSH Audit (Filing/Review/KPMG Audit), Financial Projections, Training, Third Party Review, Contractual Reserve Review, Bad Debt Methodology Review
- Technology Assessment in relation to Revenue Cycle Tools and Systems including Patient Care; Direction needed for Population Health, Artificial Intelligence, along with Current State of Systems.
- Return on Investment for New Information Technology Programs
- Assistance Preparing Strategic Technology Plan and Vision
- Assistance with New EHR Implementation
- Software System Evaluation and Needs Analysis including Return on Investment
- Revenue Cycle Report Card Development
- Revenue Cycle Committee Member
- Assistance Preparing Revenue Cycle Plan and Vision along with Implementation Services
- Assistance with New EHR Implementation
Privately Owned Business
Owner of Business
- Need Part Time CFO or Controller - Remote Access allows us to work with you anywhere in the Country
- Bank Financing Assistance
- Need Help in Building an Internal and External Professional Team
- Your Banker or Accountant or Law firm is telling you to Bring in Outside Help
- Need help in Transitioning Business to Heirs
- Due Diligence assistance for Business Acquisitions or Sale of Business
- General Accounting Assistance
- Concerns over Financial Management or Profitability
- Start up Company Assistance
- For a Privately Owned Business, the time to bring in an outside turnaround consultant is when the business experiences 3 consecutive months of losses or experiences a significant immediate change in its business (example would be loss of major customer).
- For Health Systems, if you experience a monthly loss of 4% or more in any one month, there is reason to be concerned. If you experience 3 months of losses in a row there is reason to be concerned. lf the cumulative last 6 months result in losses there is reason to be concerned. Margins are razor thin, so it is very difficult to make these losses up in the future. Time is of the essence to address as quickly as possible and bring in a turnaround consultant.
- For any entity, if the Balance Sheet is worsening in terms of Current Ratio (Current Assets divided by Current Liabilities) quarter to quarter, there is a problem.
- In my role as a Hospital CFO, I walked into a situation in late 2014, with 3 days cash on hand, payable days at 117, and two months left until we ran out of cash, and no one within the organization knew this was the situation. The hospital had already gone bankrupt in 2007. The goal was pretty clear; turn the entity around and keep a full service hospital for the community. 3 years later, we were at 22 days cash on hand, payable days at 72, two years of profitability, and had signed a strategic affiliation with two large health systems. We did not lay anyone off and there was No One Silver Bullet to Fix. What Strategies did we use to accomplish this?
- When I was on the School Board, and we were in serious financial trouble, what strategies did we use to obtain additional State Support/Funding? What were the steps we took? How did we engage the public?
General Accounting and Bookkeeping Services
- We can help close the books, provide monthly reviews, interim accounting assistance, higher level resources when needed, preparation for financial audit, hiring assistance, expense reduction reviews. We have proficient experience in small business software such as QuickBooks and are Certified Experts (proadvisor.intuit.com/app/accountant/search?searchId=jason-lesch91, Peachtree (Sage), etc and working with non-accountants to help train and mentor them. All initial consultations are free in order to determine how we can help your business and financial staff.
- For Not-For-Profits, we offer a free financial review, if provided with a back-up file copy of QuickBooks/Peachtree(Sage) or on-line access to the accounting system.
Contingent Fee Cost Savings and Revenue Generating Services
- We do not get paid unless we find and execute the cost savings - 20% fee for 3 years. On the revenue side, we can function as additional sales people for your company. Again, no fee until the deal is closed or order is placed - 5% commission structure for 3 years.
We Promise you the Best
We view your business as our business. We are only successful if you are.