When should leaders take action based on outside benchmarking?
If an organization falls below the 75th percentile of a given metric, it indicates that at least 75% of peer organizations are performing better in that area. This suggests a competitive disadvantage or inefficiency that could impact growth, customer satisfaction, operational effectiveness, or profitability. However, should action always be taken at this threshold, or are […]
Profitability in Skilled Nursing Requires more than a Good Census
At CFO Insights, we help small and mid-sized SNFs go beyond basic financial reporting and uncover the real levers of profitability. Here’s what I’m seeing too often: That’s where fractional CFO leadership makes a difference – delivering financial clarity without the full-time overhead. If you’re still making decisions based on last month’s numbers – or […]
Account Payable (AP) Best Practices
Implementing best practices for accounts payable (AP) enhances both security and efficiency, reducing fraud risks and improving cash flow management. Automating invoice processing with secure AP software minimizes errors, speeds up approvals, and prevents duplicate or fraudulent payments. Establishing strong internal controls, such as segregation of duties and multi-level approvals, ensures accountability and reduces the […]
Reducing Bank Fraud with Positive Pay
Many reading this post may think this is obvious but there are many small and medium sized organizations that haven’t yet implemented this process. Organizations are increasingly targeted by financial fraud, including check and ACH fraud. One way a fractional CFO can help safeguard an organization’s finances is by implementing Positive Pay, a fraud prevention […]
The Value of Benchmarking
Internal benchmarking helps organizations identify best practices within their own operations, allowing them to streamline processes and improve efficiency based on proven successes. By comparing performance across timeframes, products, or services, businesses can drive continuous improvement and foster a culture of accountability. External benchmarking provides valuable insights by comparing an organization’s performance to industry peers, […]
Navigating Healthcare Reimbursement Complexities
One of the greatest challenges for healthcare providers is understanding and optimizing healthcare reimbursement. A fractional CFO helps providers by: A Cost-Effective Solution for Small and Medium Sized Healthcare Providers Hiring a full-time CFO can be expensive, but a fractional CFO provides high-level financial guidance at a fraction of the cost. Whether working a few […]
Independent physician practices face increasing financial complexity
Independent physician practices face increasing financial complexity, from navigating healthcare reimbursement to managing cash flow and growth. While bookkeepers and tax preparers play essential roles, they often fall short in providing the strategic financial oversight that practices need to thrive. That’s where fractional CFOs come in – offering expertise beyond bookkeeping and deeper operational involvement […]