In fiscal year 2014, our client faced several operational challenges resulting in a $70 million loss. To quickly identify and resolve the problems, they hired a new chief operating officer and chief information officer, and brought in an interim chief financial officer (CFO) from Warbird Consulting Partners. In addition, Warbird provided key “practitioner” consultants throughout the AMC’s revenue cycle to execute […]
Warbird deployed an interim CFO to assist our client with its operational and performance improvements at McLeod Health Clarendon. The engagement began with a complete assessment in which Warbird’s CFO reviewed existing performance improvement initiatives, met and interviewed key employees and conducted our own assessment to identify […]
Warbird deployed a CEO and CFO for this small health system located in northern Illinois to provide performance improvement. Centegra had fairly well developed affiliation discussions with a major Chicago-based health system, Northwestern Medicine, but Northwestern did not want to move forward unless the financial operations of Centegra were sustainably turned around.
Warbird deployed a full range of individuals to effectively re-establish this hospital’s Finance and IT infrastructure, as well as assist in numerous other areas. More specifically, St. Luke’s Hospital had been merged and fully integrated into ProMedica Health System approximately five years before the FTC mandated that ProMedica divest St. Luke’s Hospital.
Warbird deployed an interim CFO and other relevant subject matter experts to assist our client with its operational and performance improvements. The results speak for themselves. The organization was at break-even by the end of second quarter 2016, profitable in third and fourth quarters and ended the year with a 3.8% operating margin, […]
Warbird deployed a team consisting of a CFO and Revenue Cycle Director to assist our client with its operational and performance improvements to help HMC “realize its top priority: to maintain and enhance the long-term financial viability of the hospital, while recruiting and retaining providers and experienced nursing staff, stemming the out migration of patients, […]
A stand-alone non-profit hospital had issued $45 million in fixed interest rate tax-exempt bonds in 2007, which could be refinanced at par at the Hospital’s option on May 15, 2017. The bonds issued in 2007 had interest rates of 5.50%, and current market interest rates are much lower for the Hospital. The Hospital retained Warbird Consulting Partners to assess their options for refinancing and to implement the selected solution.
A Healthcare System and Medical Group had multiple issues in the Patient Access and PFS Billing areas. A new entity had recently been established between the Medical Group and a university system; it was 50% owned by the Health System and had similar problems. The existing teams were understaffed, needed an improved culture of focused attention, and had a structure that was not appropriate.
Over the last few years, a well-known pediatric treatment and research facility had begun to experience a noteworthy decrease in third party and government payer revenues due to bad debt, slow cash collection, and an increase in accounts receivable — especially in the 90 days and greater category.
A health system required assistance in running an RFP process that allowed the Board and management to select the most appropriate audit firm for the annual audit of its financial statements. The primary challenge facing the client was lack of time, as management was stretched too thin and was focused on other projects and ongoing responsibilities.
A private equity firm was purchasing a physician practice and needed to understand what was in the operations and financials. After a month of work, the private equity company was still unable to obtain financial answers.