Financial Performance Review

What's included?

  • Consolidation and review of 3 years worth of practice financial performance data.
  • Creation of a comprehensive management report.
  • Identification of areas of opportunity for improving the financial performance of the practice.
  • Action plan created and implemented.
  • Positive Progress Photo

Understanding the financial performance of your practice has become increasingly important as competition for the patient increases in today's market. Today's challenging economic climate adds another incentive to maintain strong fiscal oversight.

In the past, medical practices demonstrated healthy growth trends with little effort. It seemed almost too easy at times and diminished the importance of ensuring a strong, healthy Profit and Loss statement.

Solution

Core Healthcare Consulting offers assistance in understanding the financial health of your practice through our Practice Financial Performance Review.

The Process

CHC gathers multiple reports and documents from your practice covering a time span of several years. These documents include, but are not limited to the following:  

  • The income statement
  • The balance sheet
  • Payroll
  • Charges, collections, and receipts
  • Accounts Receivable

We then consolidate the data into a single, comprehensive report. This report will be delivered and reviewed with the management team. We will discuss the strengths, weaknesses, opportunities and threats. We will also discuss tactics to either maintain or modify behaviors that will affect the financial health of the practice.

The Financial Performance Review is available as an individual service or as part of the Tier Two or Tier Three Retainer Packages. Please contact us to request pricing information.