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Finance Overhaul for Healthcare Provider Delivers Audit Readiness and Exit-Ready Growth
A rapidly expanding healthcare provider experienced exponential growth, increasing its contract base from 20 to more than 70 in just 18 months. While revenue surged past $200 million, the company’s finance infrastructure, still relying on QuickBooks, could not keep pace.
This lack of scalability created severe delays in financial reporting, audit completion and monthly close processes—ultimately contributing to a failed sale. Without a clear financial picture or a scalable system for managing operations, the company lacked the transparency and control needed to attract and satisfy potential buyers.
We led a comprehensive transformation initiative designed to bring stability and scalability to the provider’s finance and operations functions. Our first step was to clean up the accounting environment. We reconciled the general ledger and addressed year-end financials to support audit readiness. This cleanup was essential for reestablishing a trustworthy financial baseline.
With better financial clarity, we collaborated with leadership to prepare a budget for the coming year, introducing new cost categories and factoring in unit economics to better align with the company’s growth trajectory and investor expectations. To ensure ongoing operational stability, we designed and implemented standardized tools and templates for core finance processes. These included the cash cycle, close/reporting cycle and management review procedures. We also embedded continuous measurement and feedback loops, allowing the organization to monitor and improve its performance over time.
The transformation delivered tangible results. First, the company achieved a successful audit—an essential milestone after previous delays. More significantly, the improvements in financial reporting and operational discipline enhanced the company’s exit readiness. With a clearer narrative around historical performance and a more compelling buyer story, the company was well positioned for a higher exit value and future growth.