Consolidated Reporting for a Multi-Practice Medical Company

At a Glance

Our client recently purchased a new practice and needed accounting done for the parent company and all subsidiaries. In addition to monthly accounting, the company also needed consolidated reporting to show business performing at a glance.

Challenges

This medical company had multiple established practices and plans for growth, but didn’t have a financial team to take care of the accounting or to prepare projections. The company needed to have accounting installed for new practices as well as an accounting cleanup for existing practices. Finally, the client needed to better understand the company’s past performance and what future projections looked like.

The Solution

Fox and Partners stepped in and within a few weeks had created the books for the new practice as well as provided a financial overview and cleanup of the existing practices. Once each entity had accurate financials in place, we put together a clean and understandable report that shows overall performance, key metrics, and areas to keep an eye on.

The Results

Accurate Financials for Each Practice and Holding Company

For the practices that didn't have any financials we created them and cleaned up the books for the other entities.
Helpful Financial Reports

The financial performance of each entity is sent each month along with a narrative and key figures.
Improved Financial Understanding

With the consolidated reports, industry comparable reports, and a monthly meeting for the client to better understand the key numbers for each entity and the portfolio as a whole.

Key Metrics

$100K

Annual cost savings.
2x

Annual gross revenue.
50%

Quick ratio improvement.

Where They Are Now

The client has continued to grow their business while improving cash flow they are well on their way to personal financial freedom.

Let’s Work Together

With a wide range of knowledge, including finance, marketing and vision building and an ability to bring-in and communicate with various specialists to ensure optimal care, Fox and Partners is uniquely suited to bring to the business world what the medical world has had for decades – a warm first point of contact, a professional with a breadth of knowledge and coordination for all of your business and financial needs.

Consolidated Reporting for a Multi-Practice Medical Company

At a Glance

Challenges

The Solution

The Results

Accurate Financials for Each Practice and Holding Company

Helpful Financial Reports

Improved Financial Understanding

Key Metrics

$100K

2x

50%

Where They Are Now

Let’s Work Together

Get in Touch