The start of the consulting process begins by analyzing the financial health of a company. Before a consultant can make specific observations about a healthcare company’s finances, the consultant must obtain a broad understanding of the corporate finances. To accomplish this, consultants will conduct a detailed review of the pertinent financial data.
Key financial information for healthcare companies are found within the corporate financial accounting statements, which is comprised of the income statement, the balance sheet, and the statement of cash flows. Other important financial data for healthcare companies includes aged receivables reports, annual financial reports, along with other benchmarking reports.
By performing a comprehensive review of all the financial reports, a consultant can provide recommendations to healthcare business owners on strategies to improve their corporate profit.
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5 Keys to Effective Healthcare Consulting
By Gregory Seigel, J.D., LL.M.
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