Medical Clinic
Financial Clarity and Cash Flow Management
Client Background
Our client is a multi-provider medical clinic based in Florida, offering primary care and specialty services. The clinic had experienced steady growth but lacked financial visibility, making it difficult to plan expansions or make strategic decisions confidently.
Challenges
- Inconsistent financial reporting: Monthly reports were delayed or inaccurate.
- Cash flow issues: Delays in insurance reimbursements caused unpredictability in monthly operating funds.
- Limited budgeting and forecasting: The clinic had no reliable forecasts for staffing, overhead, or expansion.
- Owner burden: Leadership spent hours reviewing financials personally, reducing time available for patient care.
How We Helped
- Bookkeeping cleanup: Standardized accounting records and reconciled prior discrepancies.
- Reporting systems: Implemented timely monthly close procedures and accurate financial reporting.
- Cash flow forecasting: Built predictive models based on insurance collections and seasonal trends.
- Fractional CFO guidance: Monthly strategy sessions to advise on hiring, expenses, and growth opportunities.
- Cost optimization: Identified non-essential spending and optimized vendor contracts.
Results
- Month-end close process reduced from 15 days to 5 days.
- Cash flow became predictable and stable within three months.
- Operating costs reduced by 12% through vendor renegotiation.
- Owner reported significantly less financial stress and could focus on patient care and growth planning.