What is PAYGO ❓
The Statutory Pay-As-You-Go (PAYGO) rule, part of the Budget Enforcement Act framework and law since 2010, requires that any new legislation must not increase the
We originally hired Dave as a fractional CFO for general advice and to provide specific input on medical revenue recognition policies and market-level financial statement reporting.
Dave was able to assist our Controller in understanding best practices for medical receivable revenue recognition policies and to define a procedure for determining monthly net revenue. Additionally, Dave assisted in developing an approach for post review of cash collections to ensure revenue reporting was appropriate on an on-going basis. This combination of front-end procedures and post cash collection validation helped to identify a delay in billing certain services which was addressed with improved collections and cashflow.
Dave also created a standardized monthly financial reporting package used for Board presentations. The package includes key performance indicators, financial trends, graphs, and the standard income statement, balance sheet and cashflow statement.
We’ve also used Dave on special projects relating to our organization including the successful sale to a third-party strategic acquirer.
Dave provides balanced, thoughtful and knowledgeable advice to assist not only in understanding the organization’s financial performance but to identify areas of opportunity or risk. It has been a pleasure working with Dave and I highly recommend him to any executive seeking an impactful and collaborative finance leader. I would be pleased to provide additional insight to an organization considering engagement.
Sincerely,
Lenna MacDonald, President/CEO
Explore our case studies to see how we’ve helped healthcare providers optimize their finances, secure critical funding, and drive growth through strategic financial solutions.
Improved payroll processing review of over 2,000 employees through automation and exception reporting thus reducing payroll errors by 25%.
Involved with automating accounting and accounts payable functions.
Improved the monthly financial board package to include graphs which created a visual component to the presentation highlighting key trends.
Defined Key Performance Indicators (KPIs) on staff productivity and reported monthly to the executive level team.
Developed an investment policy that improved returns almost three-fold while meeting the finance committee’s risk tolerance.
Identified financial process improvements for increased efficiency, accuracy and security. These processes included banking, accounts payable, and financial reporting.
The Statutory Pay-As-You-Go (PAYGO) rule, part of the Budget Enforcement Act framework and law since 2010, requires that any new legislation must not increase the
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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
Healthcare Financial Professionals
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