Organizational Restructuring:

We were asked to assess the operations of a large professional services company located in the midwest. Our initial report identified the fact that the company had outgrown its organizational structure.

We worked with key company personnel to create and implement a complete restructuring plan. Organizational responsibilities were shifted and, in some cases completely eliminated. We recommended a shift in emphasis in its approach to how the company viewed the services it provided, resulting in the "firing" of some of their unprofitable customers. This resulted in significant gross margin improvement. We also served as part-time controller when the financial officer left. We redesigned operating and reporting systems.

Re-engineering a Business:

A family-owned business was a low-end provider of commodities. We worked with this client to re-engineer the company to focus on the high-end, value added products - most of which the company wasn't even selling at the time. We helped the company develop a business plan and create a financial model and blueprint for success.

The company is now selling its high-end products internationally, and is highly successful.

Family Business Services:

We became the accountants and business advisors to an international company looking to transition company management from Father to son. We worked with the company to make this transition a successful one, providing a transition plan which created retirement benefits for the Father and successful transition of ownership in a tax-advantaged manner.

The potential tax savings resulting from the estate and family business planning resulted in tax savings in the millions.

Successful Tax Strategies:

One of our clients had multiple, complex real estate partnerships and corporations. They were advised by the accounting firm of one of the partners that the only way to handle a restructuring involved a substantial tax liability.

After extensive research, we proposed an approach that resulted in tax savings in excess of $300,000, which allowed all parties to benefit. We are now doing that partner's tax work too!!

Corporate Acquisition:

Our client wanted to expand itself into a regional business. We helped the client find and negotiate the acquisition of another business in the region that they wanted to be. We then worked with them to reorganize the business in a way that improved efficiency, profitability and growth.

Ownership Transfer:

An owner of an engineering firm was attempting for several years to sell his business and retire. He was not able to put a deal together for a variety of issues.

We worked with the company to arrive at a way for key members of the company to buy out this owner on a tax-favored basis.

Financial and Estate Planning:

The company's owner came to us in his 40's. He had grown a successful business but had not paid much attention to his personal financial situation. We worked with him to develop a financial and estate plan which helped him determine the adequacy of his insurance needs, plan his retirement, and restructure his estate in such a way that avoided substantial taxes over what he would have otherwise been facing.

Practice Re-engineering:

We were asked to assess the operations of a four-physician practice in Connecticut. Our report to the physicians identified fundamental problems with the structure and staffing of the practice.

While conducting a search for a candidate for a permanent position, we were asked to serve as the practice administrator on a part-time basis. During the following six- month period we identified over $150,000 in cost savings resulting from staff restructuring and changes in methods of practice operations.

Practice Buy-in:

We were engaged by a highly successful Plastic Surgeon in Florida to determine the value of his practice and to provide him with a method for allowing an Associate to buy into the practice.

We valued his practice, and developed a method for buy-in which provided a fair and timely return to our physician client while allowing the acquiring physician to be able to afford the acquisition.

Medical Practice Valuations:

We were engaged by a Connecticut Hospital to value selected practices in their market area. Over a period of two years we evaluated over 30 practices, several of which the Hospital ultimately acquired.

Improved Collections:

We were asked to provide billing consulting for an established Surgeon. In reviewing his practice, we determined that much of his collection effort was haphazard and inconsistent, resulting in substantial balances 120 days and over.

We provided technical assistance in the collection of his outstanding balances. We were successful in collecting balances as much as three years old. We were so successful that he requested we take over his billing function. Since then, his collections have been up over 30% from the preceding year.

Sale of Practice to Hospital:

We were engaged to assist in the negotiation for the sale of a ten-provider primary care practice in New England to a Hospital.

The negotiations resulted in a successful practice sale, not only with respect to the purchase price, but also with respect to the ongoing nature of practice operations and their desire for autonomy within the framework of the purchase. This was especially important to the physicians, since they had been successful in private practice and wanted to retain their operating style. We were able to help them achieve that.

Practice Assessments for Hospital:

We were asked by a West Virginia Hospital to perform practice assessments on six primary care practices that they were considering for acquisition.

The physicians were delighted with the results of the assessments, which provided significant operations improvements for all of the practices. Some of the practices were subsequently acquired by the Hospital.

Physician Compensation Structure:

One of the most difficult issues facing multiple physician practices is the compensation formula. We were asked by a Specialty practice to work with them to develop a compensation model which reflected their values.

By working closely with the physicians and taking the time to understand their needs and values, we were able to develop a model which provided each physician with a level of compensation which was driven by the values and goals of the group.

Ongoing Practice Services:

We provide many of our practices with ongoing practice management services. They recognize that the practice of medicine is in part a business, and that businesses need ongoing high level support. We are a part of their ongoing practice management system.

…Those are but a few of the many ways we have helped our clients be more Successful…

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