Clinics & healthcare practices
Illustrative case study
Cash visibility across four clinic locations
A growing clinic group with four locations, a lender covenant and no consolidated view of cash. We built the consolidation, the forecast and the covenant reporting the bank had been asking for.
The situation
Ferncliff had grown from one clinic to four in three years, financed by a term loan with quarterly covenant reporting. Each location ran its own books. The COO spent a weekend a month combining them, and the bank had started asking for the reports earlier.
The challenge
Intercompany charges between the two entities were inconsistent, location-level margins were unreliable, and payroll — 60% of costs — hit the bank in a pattern nobody had mapped against collections from insurers and patients.
What we did
The result
The COO stopped building reports and started reading them. Location margins were comparable for the first time, which changed staffing decisions at two sites. The lender received every quarterly package on time, and the forecast flagged a tight payroll week nine weeks in advance — early enough to bring a collections push forward rather than draw on the facility.
Our board pack used to take me a full weekend. Now it arrives on the tenth with commentary I can forward straight to the board.
Grace Whitfield,
Chief Operating Officer,
Ferncliff Clinics
Client profile
Company
Ferncliff Clinics
Industry
Clinics & healthcare practices
Size
$12M revenue
Stage
Founder-owned, bank-financed
Team
85 people
Structure
Four locations, two entities
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