The originally stated goal was to provide Finance area leadership as Controller on an interim basis to stabilize and manage all Accounting Department operations and reporting and return credibility to financial reporting for a three-hospital system. After the departure of the CEO and CFO within 60 days of Warbird’s arrival, Warbird provided Finance Division leadership as Interim Chief Financial Officer, Accounting, Accounts Payable, Payroll, Reimbursement, Revenue Cycle Materials Management, Managed Care contracting, Treasury functions and vendor management.
Warbird Consulting Partners working in close coordination with Intermountain Healthcare (HC) Telemedicine team designed a methodology and related financial models to enable Intermountain HC to quantify internal economic benefits generated across the health system and potential financial benefits for the local communities served by Intermountain HC […]
Warbird Consulting Partners, at the request of the client, provided interim CFO and subject matter expert services to an affiliate of the DuPage Medical Group on behalf of a public-private partnership. The partnership involved private healthcare management and several suppliers and contractors, the City of Chicago, the State of Illinois and […]
Warbird provided strategic advisory services as our client pursued a significant growth strategy in southeast Florida and explored strategic opportunities for its information systems and back office services. These services not only provided strategic analysis but on the ground assistance in the implementation and operational staffing […]
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 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, […]
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.
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.