industry
Healthcare & Life Sciences

Stabilizing a healthcare service company’s finance function

Key results:
  • Stabilized RCM function
  • Added multi-million dollar working capital settlement to revenue
  • Outsourced RCM function​​​​​​​​​​​​
Value levers pulled:
  • RCM operating model
  • Financial statement close process
  • Functional leadership
  • Audit readiness
  • Stakeholder reporting and KPI development​​​​

Picture this...

You’re a healthcare services company growing significantly, partly through acquisitions. But you’re facing major challenges with staff turnover and monthly closings. Preparing for year-end has been a wakeup call. From overall finance leadership, to monthly close processes, purchase accounting, and audit preparation, you need help to stabilize your finance function.

You turn to Accordion.

We perform a finance assessment and subsequently provide leadership to the finance function. To accomplish this, we:

  • Identify opportunities, prioritize initiatives, and develop a finance function and Revenue Cycle Management (RCM) roadmap.
  • Lead the finance team as interim CFO, structuring roles and responsibilities, developing cash management, controlling expenses, negotiating with vendors, and creating board meeting materials and presentations.
  • Develop a hybrid RCM delivery model, and lead efforts to outsource RCM, including vendor selection and transition support.
  • Prepare audit documentation including account reconciliation templates, purchase price valuation, technical accounting, and compliance reporting.

Your value is enhanced.

Your finance function is stabilized. You have:

  • Established organizational processes, completing audits on-time to meet compliance reporting deadlines.
  • Added a multi-million dollar working capital settlement to your books.
  • Outsourced the RCM function enabling both efficiencies through automation and cost reductions.
Enhanced value:

You reap multiple benefits, including:

  • Stabilized RCM function
  • Added multi-million dollar working capital settlement to revenue
  • Outsourced RCM function​​​​​​​​​​​​​