Case Study
Interim CFO/Carve-out
A senior primary healthcare provider, recently carved out and now majority-owned by a private equity firm, sought an experienced CFO to steer financial operations through a critical transition period
Client Challenges
The complex business model within the value-based structure required a more sophisticated financial system. A complete rebuild was needed:
- Struggled with effectively closing financial books
- Lacked a formal FP&A function
- Hindered by inadequate management and financial reporting to effectively manage day-to-day operations and drive fact-based decision making
- Faced significant operational inefficiencies despite being the largest and fastest growing company in their industry niche
Project Requirements
- Develop the fiscal 2025 budget
- Optimize and manage cash flow processes
- Enhance month-end closing procedures
- Provide post-close support for M&A activities
- Collaborate with the finance and operating team to create a new operating model
- Establish a comprehensive Financial Planning & Analysis (FP&A) function
Project Deliverables
- Successfully led the budgeting and forecasting process for 2024, aligning staffing models and assessing capital expenditure needs for 30 clinics with $97 million in committed capital
- Hired a Treasury Analyst, established new protocols, developed an automated 26-week cash flow forecast, and transitioned corporate banking and card programs
- Reengineered the month-end closing process, reducing the close time from 18 days to 6 days, utilizing Oracle NetSuite and Power BI for real-time alignment
- Led the net working capital (NWC) true-up process, collaborated with PwC on closing statements, conducted ASC 606 assessments, performed tax due diligence, and continued purchase accounting efforts
- Redesigned the Delegation of Authority, led the RFP process for External Auditors, transitioned business insurance, centralized the finance Sharepoint, and restructured revenue cycle management (RCM)
