STRATEGIC PLANNINGWe recommend that all businesses need to have a 3 to 5 year strategic plan with key objectives and outcomes to be achieved linked through to defendable forecasts – as Benjamin Franklin said, “if you fail to plan you plan to fail.” We have many years of experience preparing strategic plans and linking this vision through to its financial reality in defeneable and clear annual budgets and multi year forecasts. Check out the article "What gets planned gets done! Strategic Planning 101" on the BLOG page.
What we offer
FINANCIAL LITERACY TRAININGWe have a program, provided at no charge, called “Finance basics for Facility Managers in 7 Steps” that is geared specifically for assisting Facility Managers, frequently from a registered nurse background, focus on what is important for ensuring quality financial stewardship. We have had success adapting this training for Retirement Village Managers and General Practice Managers. Check out the article "Financial management can be a juggling act in health care" on the BLOG page.
FINANCIAL REPORTS HEALTH CHECK AND ENHANCEMENTSo you have the data available but is it providing the very best financial decision support? We can assist with improving timely (daily, weekly, monthly) financial reporting and dashboards that add value by linking the right key performance indicators to your strategic plan and budgets. Like the dashboard in your car you need to have available financial and non-financial information providing critical trends to ensure you are heading in the right direction. Check out the article "The Guiding Principles to Meaningful Analysis" on the BOG page.
GENERAL PERFORMANCE IMPROVEMENTYou have been running your health care business successfully for years but you are noticing squeezing margins that are beginning to eat into your profitability. You just need an experienced eye to complete an independent review and provide some value adding suggestions. Little improvements here and there will make a big difference to your bottom line.
SUCCESSION/EXIT PLANNINGYou have worked hard to make a successful health care business but there will come a time when you may want to retire or try something different. To get the very best out of your business it is critical to start planning and maximising profitability long before looking to sell. Your profit is a key factor in your businesses value. We can assist and ensure you are not giving away your hard earned value to the next owners. Check out the article "Your exit strategy planning starts now!" on the BLOG page.
BROWNFIELD DEVELOPMENTSYou have some excess land adjacent to your health care business and keen to understand the costs and benefits of developing as an extension to the existing site. We can assist building a business case that provides different scenarios. In aged care this includes bed mix and even consider including occupational rights agreements (ORA) in that mix to get a best return on investment. This will be an important planning document to present to funders like your bank.
ACQUISITIONS ASSISTANCEMay be your first aged care business or an opportunity to buy another. And for primary care there may be an opportunity to acquire a local GP practices patient list. We can assist with detailed due diligence, identify upside potential, assist with business case preparation for your funder, most likely your bank, and recommendations around the need for any conditions or warranties to protect you post settlement.
DISTRESSED COMPANY TURNAROUNDSYou are currently financially stressed and have been for a while and you cannot see a future for your health care business at this rate. It is very disappointing as you have put your heart and soul into its success. We can assist with developing a plan to trade back into profitability. We will also be honest if there is ongoing issues and risk to cash flow that cannot be resolved.
MAXIMISING REVENUE ESPECIALLY ACCOMMODATION SUPPLEMENTWe have a lot of innovative ideas of how to maximise your opportunity to increase revenue, especially in aged care around accommodation supplement. Accommodation supplementich is becoming one of the key levers for maintaining your aged care businesses long term sustainable profitability.
GENERAL FUNDING ASSISTANCE Whether you have a large capital project, want a review of your current covenants or experiencing a funding squeeze, we have many years of experience working with the major banks in New Zealand and can assist with ensuring you put your best foot forward with your operations or capital loan requests. Check out the article "Preparing to meet the bank manager" on the BLOG page.
CASH IS KING - CASH FLOW MANAGEMENTThere are two essential criteria for a regular trading business to survive: 1) It must generate profit, and 2) It must generate cash flow. The health care industry in New Zealand demonstrates a strong correlation between profit and cash flow. But this requires a robust debtor collection and creditor payment process. We can provide a health check on your cash flow management processes.
VIRTUAL AND/OR INTERIM CFO SERVICESYou have a sound Finance team or utilise a local chartered accountant with your accounting needs but sometimes you need a little more experience, especially with expertise in your health care industry. The very best way to do this without it costing the earth for a full time resource is with a highly experienced virtual CFO who you can utilise on as "as needed" basis. It would be my pleasure to assist you.
