WARBIRD’S CFO STRATEGIC SERVICES

Warbird Healthcare has built a network of senior healthcare CFO professionals that provide steady-hand guidance to navigate our clients through tumultuous times of change.

Our CFO Network and healthcare professionals and advisors include seasoned subject matter experts — with an average of 30 years in the healthcare industry, and 20 + years as CFOs — who understand the time and resources required to manage finance and accounting teams. Guided by Warbird professionals, you will discover how to manage financial volatility and pursue operational improvement.

Warbird deploys only practitioner leaders to evaluate business needs, identify areas of improvement and execute solutions, with a proven record of driving results.

Areas of Expertise
  • Senior, tenured financial leadership who partner with the executive team and the Board of Directors
  • Senior CFO Network – Click here to view profiles and sub-specialties.
  • Performance Improvement Assessment & Implementation
    • Service Line (clinical and non-clinical) – and incremental approach
    • Link PI™ – An educational and developmental approach with managers
    • Health systems, community and rural hospitals
    • Physician practices
    • Full Turnaround
  • Assistance with Networking with Hospital CFOs from across the country
  • Linking the business strategy of the hospital or system with a long-range financial impact

  • Mapping a financial strategy and long-range plan through modeling and forecasting

  • Prioritizing and implementing plans for debt management, cash flow, EBIDTA production, affiliations, integrations and mergers, acquisitions (including physician group practices) and asset divestitures

  • Providing decision support to executives and senior managers, including:
    • ROI and payback analyses for clinical, non-clinical and physical assets
    • Non-performing asset analyses and disposition
    • Banking, auditing and investment manager relationships
  • Special projects such as:
    • Telemedicine value proposition analysis and program development
    • Finance operations structure and staffing analysis
    • Physician practice service line financial analysis
    • Joint venture assessment, structure and execution
  • Identification of best comparative metrics for internal analysis and benchmarked comparisons

  • Strategic support to incumbent CFOs for any and all finance-related projects, goals or objectives to be achieved
  • OnDemand strategic finance and finance operations practitioners to fill the most critical vacancies

  • Finance operations analysis and recommendation to optimize performance in areas such as:
    • Monthly close
    • Board of Directors Management Discussions and Analyses
    • Metrics and dashboards for the executive team and Board
    • External reporting guidance; rating agencies, investors and the community
  • Provide direct support to the CFO to independently lead, manage and implement complex projects simultaneously, leveraging skilled talent and effective project oversight

  • Representative projects include:
    • Execution of bond or private placement financing
    • Management of investor and rating agency relations
    • Joint venture planning, development and implementation
    • Acquisition and integration of physician group practices
    • Review and development of physician compensation plans
    • Revenue Cycle restructure and improvement initiatives
    • Service line profitability analyses
Featured Clients

Click to read more…

McCormick Place, Alternative Care Facility (COVID-19)

Identified $1.4M of expense compliance saving opportunities for the State of Illinois and its taxpayers

Nick Turkal, MD, CEO, McCormick Place ACF & Michael Pacetti, CFO and Co-CEO, DuPage Medical Group
Read Case Study

Intermountain Healthcare Telemedicine/Virtual Care

Calculation of 20% positive hard economic value proposition gain for Telemedicine Program

Eric Liston, Administrator, Connect Services & Jim Sheets, VP, Outreach Services
Read Case Study

Centegra Health System/Northwestern Medicine

$34M Turnaround in 15 months, Preparation for integration with Northwestern Medicine

John Orsini, Sr. VP and CFO, Northwestern Medicine and Michael Eesley, Former President & CEO, Centegra Health System
Read Case Study

Baptist Health South Florida

Installed a governance process which helped make the strategic, capital and IT functions understandable and accountable across the system

Ralph Lawson, EVP and CFO (former)
Read Case Study

Augusta Health, Virginia

Over $20 million in performance improvement economic benefits in 14 months

Mary Mannix, President and CEO & John Katsianis, Sr. VP & CFO
Read Case Study
National Presence, Local Impact
WB CFO Heat Map as of Dec 2023

Warbird’s CFO Strategic Services Engagements

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WARBIRD EXPERTS

Mike Draa
CEO, EVP Healthcare >>
Senior CFO Network - Click To View Profiles and Sub-Specialties  >
NEWS

Warbird and its CFOs have been members of the Healthcare Roundtable for CFOs continuously since 1993.

Opportunities for new memberships to the CFO Roundtables are now open.

Click to learn more >

CASE STUDIES

McCormick Place: Warbird provided Interim CFO and subject matter expertise to create a unique Alternative Care Facility for the care of COVID-19 patients…

Intermountain Healthcare Telemedicine/Virtual Care: Warbird Consulting Partners helped Intermountain HC’s Telemedicine Team determine the comprehensive value proposition and the ROI for its Telemedicine Program…

Centegra Health System: Warbird engaged to help financially turnaround the system and effect a merger with Northwestern Medicine of Chicago…

Baptist Health South Florida: Warbird helped the system to install an effective governance process and improved outcomes for the strategic and capital budgeting processes and IT operations…

Augusta Health: Augusta engaged an interim senior CFO from Warbird to improve financial performance. The results were 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…

RELATED SERVICES

Physician Practice Solutions >

Performance Improvement & Turnaround >

Affiliations, Mergers & Acquisitions >

HOW CAN WE HELP?

Warbird will help you solve the most challenging financial and operational issues for your organization. Click button to contact us today.

CONTACT US

MICHAEL DRAA

Chief Executive Officer and EVP Healthcare

Michael R. Draa has been our Chief Executive Officer since January 1, 2012 when he formed Warbird Consulting Partners by leading a management buyout of the Accounting Advisory Practice from Huron Consulting Group. While at Huron, Michael served as the Practice Lead for the Accounting Advisory Practice. Prior to joining Huron, he was a partner at Callaway Partners, overseeing National Service Delivery on all projects. Mike also currently serves as the acting EVP of Warbird’s U.S. Healthcare Practice.

Mr. Draa has more than 30 years of accounting and consulting experience during which he has held several executive and senior management roles including accounting, sales and marketing and operations. During that time he has successfully led both strategic and tactical projects and teams. Mike’s deep industry experience includes Healthcare, Technology, Manufacturing, Automotive, and Media and he has vast expertise in many functional areas including: management of restatements, turnarounds, bankruptcy reorganization and liquidation, mergers and acquisitions, joint ventures, system conversions (ERP), shared service implementation, start-ups, compliance, process re-engineering and technology ventures.

Mr. Draa sits on the Board of Directors of non-profit organizations and holds a degree in accounting and business management from Cedarville University.

 

CONTACT

Email: mdraa@warbirdcp.com