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Creating Financial Foundations for Accelerated Healthcare Growth

Creating Financial Foundations for Accelerated Healthcare Growth

Following the acquisition of a multispecialty care company by a private equity sponsor, the absence of a structured finance function posed a critical barrier to growth. We were engaged to build financial infrastructure from the ground up—empowering the company to scale organically and through acquisition while meeting the rigorous reporting and operational demands of new ownership.

Challenge

Our client—an emerging healthcare services platform with operations spanning multiple geographies—had been founder-run and operated without a formal finance and accounting function. Financial processes were largely outsourced, reporting was limited, and the organization lacked the internal capabilities required to support the pace of growth envisioned by its new PE owners. To evolve into a scalable and sophisticated healthcare platform, the business needed financial expertise, structure and leadership—fast.

Solution

We stepped in as an extension of both company leadership and the PE sponsor to build a finance function capable of supporting accelerated expansion. This effort spanned financial infrastructure, talent acquisition, revenue operations and acquisition diligence:

  • Finance and accounting operations: We transitioned accounting duties from outsourced bookkeepers to an in‑house team and introduced a structured monthly close process. Historical financials were converted from cash to accrual basis, providing a more accurate and timely financial view.
  • Reporting and controls: We built a comprehensive reporting package tailored to board, lender and internal leadership needs. Other activities included completing purchase accounting for a newly acquired entity and developing appropriate reporting for the management services organization (MSO) introduced during the transaction.
  • Revenue management and modeling: A formal revenue model was designed to align revenue recognition with business performance and identify shortfalls in revenue cycle management (RCM). We led the effort to insource the RCM function—establishing new processes, remediating systemic gaps and hiring a head of RCM to lead the function.
  • Leadership and talent: Recognizing the need for sustainable leadership, we managed the search and onboarding of a new controller to lead the function forward.
  • Acquisition support: We conducted full financial diligence on a subsequent acquisition—supporting the client’s buy-and-build strategy with rigor and speed.

Outcome

Through deep integration with leadership and hands-on execution, we built a fully functioning finance organization embedded with the structure, systems and leadership the company needed to rapidly scale. They gained transparency into their financial operations, enhanced their ability to deliver reliable reporting to stakeholders, and improved RCM performance. The financial infrastructure we put in place provided a foundation for the client’s rapid growth into a leading post-acute care platform.

Industry

Deployment

Services

  • PE Services
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