Achieve. Grow. Accountability. Profits
It is hard for small to medium size companies, especially in the healthcare field, to justify a full-time chief financial officer (CFO), chief executive officer (CEO) or chief information officer (CIO). They simply do not have the need for a senior financial executive on a permanent basis, or the budget for it. That is why more and more companies call on the services of a part-time or virtual “C-Suite Professional” Now physician practices are also getting in on this innovative option, as the pandemic has changed our staffing mindset forever.
Part-time and/or Virtual CEO’s, CFO’s and CIO’s, even Virtual Practice Administrators can offer outside perspectives, invaluable strategic insight and their cost-effectiveness cannot be denied. The investment in the services of a Virtual C-Suite Professional very often generates a return on investment many times over.
Hiring an interim, part-time Virtual CFO, CEO or CIO can immediately help you focus on key financial elements, compliance, coding and reimbursement, and CMS/Medicare updates rather than get lost in the day-to-day operational details of the business.
Ready to take the plunge? Here’s what to expect:
Get to know you and your business – Virtual CFO
A Virtual CFO will first want to identify the key financial issues facing your company. To do that, we will first get to know you, the owner and what is important to you. You could expect questions about your financial situation, what you feel is working for your company and what is not. Your financial statements will tell the story of what has happened but not why it has happened. Our Virtual CFO will seek to unveil the underlying reasons for your financial weak spots through getting to know and understand your perspective. Also, expect an assessment of your key employees and of your processes and business risks. We need to get an entire health picture of your practice so we can focus on immediate and then long-term needs.
Understand your break-even point – Virtual CFO
A crucial financial metric, the break-even point, is very often overlooked by business owners. In a nutshell, it is the amount of generated business you need to achieve to cover your fixed expenses and where that bottom-line end point becomes profit. Depending on your business model, it can be difficult to determine for physician practices since so much of your revenue depends on insurance reimbursement. But that where our expertise in contracting, billing and coding processes, can assist in finding that number and understanding your company’s direction.
How is your Practice running as a whole? Workflows, Staffing, Personnel, and Patient population – Virtual CEO
Having a Virtual CEO examine and track your workflow processes, your financial indicators, your profitability and your patient population (payer mix), results in helping physician business owners focus on what they do best, serving patients and finding new and improved ways to do so.
The role of a Virtual Part-Time CEO (Chief Executive Officer), works closely with the Board of Directors or Physician group, serving as managing director of corporate operations and as the main link between the different divisions within the company. The Virtual CEO is the face of your C-Suite leadership and will have previous corporate management experience and a proven track record for effective team management and results-driven leadership.
We also offer, Virtual CIO (Chief Information Officer), CCO (Chief Communications Officer), COO (Chief Operating Officer) and more.
What we can do for your business
By focusing on the key financial and operational elements, we will help you optimize functions, performance and profitability. Our approach aims at strengthening future performance and developing and implementing winning strategies.
Our services are offered on a need-basis and are tailored to your needs so your business can afford high caliber C-Suite consulting at a fraction of the cost.
What we offer
Our passion for entrepreneurship and pragmatic approach will help you craft and implement dynamic business solutions specifically tailored to create and maintain sustainable value for your business.
Our Plans: Flexible, Customizable and Affordable
Whether your business needs demand a few days or a few hours a week, we have you covered. We will assist you in selecting the most appropriate plan for your business needs. Be sure to contact us for your free 60-minute assessment and plan.
Ideal for an established small to medium size companies/physician practices with medium to long-term operational, financial and strategic needs.
Ideal for fast growing or distressed small to medium physician practices and startups requiring hands-on and collaborative operational, financial and strategic project management.
Ideal for small to medium companies with variable needs.