Healthcare Vertical

The landscape for medical practices has become increasingly complex and hostile in recent years. Providers spend less time with patients and more time with administrators. Revenue Cycle leaders face off with commercial insurance companies over reimbursement rates and growing denial rates. Cyber threats are everywhere.

To respond to these changes, some practices have chosen to partner - with other practices, with private equity investors, with health systems. Others have chosen to remain independent. None of these decisions is necessarily right or wrong, but all have consequences - some intended, some not intended.

This is where Viewpoint’s unique experience separates itself from other healthcare advisors and consultants.

These engagements assist the CFO, CEO, or Board with a specific projects requiring skills or bandwidth lacking in the practice. Some examples include RCM evaluation (retain/outsource), ERP evaluation and implementation, mentoring new CFOs, due diligence support, and financial modeling. Duration varies by engagement type.

In certain circumstances, Viewpoint has also been retained as a strategic advisor to practice boards during times of transition or growth.

These engagements evaluate a practice’s finance function, focusing on people, processes, and systems. Typically requested by the CEO or Board, an assessment involves interviews with 10-20 key stakeholders in both the clinical and administrative areas of the practice (sometimes also conducted during transaction due diligence). Project duration is normally 45 days from kickoff to deliverable (depending on client responsiveness), but can be expedited with commitment from all stakeholders. Deliverable includes a comprehensive set of observations from interviews and analysis, along with actionable recommendations.

These engagements bridge the gap between an outgoing and incoming CFO. Primary areas of focus are team stabilization, knowledge capture/transfer, and process improvement. However, RCM often becomes an area of focus due to the interdependent nature of that function. Generally an interim CFO will avoid significant changes unless absolutely critical and also authorized by the Board or CEO. Interim CFO can also support the Board and CEO during the CFO search. Typical engagement duration is 3 to 9 months (sometimes longer) and demands significant time commitment from the interim CFO.