Resource Utilization Solutions
Operations assessment: Performed a business diagnostic assessment of a biotechnology company and identified strengths and opportunities to improve EDITDA, cash flow and profitability. Developed a performance improvement plan to support management’s business strategy, and implement the identified opportunities for improvement. The plan included a consolidation and reorganization of operations and structure, reallocation of financial and manpower resources to more profitable product lines, joint venture opportunities for existing and proposed products in certain market places, outsourcing some back office support functions and acquisition and sale opportunities.
Performance improvements review: Identified the root causes of inefficiencies and weaknesses of a growing long term care health care company that began to realize declining profitability and operating inefficiencies and inaccuracies in its financial reporting processes, through a comparative analyses of the company to local and national industry standards, and to historical experience. Recommended solutions to improve efficiency and implement processes and measurements to evaluate the profitability, compatibility and risk of planned growth and improve the financial reporting process.
Management structure: Developed a management transition plan and implementation timetable for the merger of multiple physician practices into a single new provider entity, including the proposed new management organizational structure, placement of existing managers, description of needed management skills, outplacement alternatives for managers that would not be placed with the new company, and incentive based compensation suggestions.