Health Care Company
Challenge
Our client, a holistic healthcare practice, was confronting a multitude of challenges that hindered their growth potential. Firstly, they struggled with an underdeveloped financial infrastructure, which presented difficulties in managing resources efficiently and tracking financial performance accurately.
Secondly, their vision to expand their operations across Manhattan was riddled with uncertainty. Despite having the ambition and a great service, they lacked a detailed financial roadmap that would plot the path to their expansion. They needed a meticulously prepared financial strategy to align their resources with their growth objectives and guide their decision-making process.
Additionally, the client had not yet conducted a comprehensive feasibility study for potential new locations. This crucial step would provide in-depth insights into each prospective location’s viability, aiding them in making informed choices about where to establish their presence next.
Lastly, the absence of comprehensive Key Performance Indicators (KPIs) was a glaring gap. These crucial metrics are essential in measuring operational efficiency, guiding performance improvement initiatives, and instilling confidence in potential investors. Without them, they were operating without a clear measure of success or a concrete way to demonstrate their potential to investors.
In essence, the healthcare practice sought to bolster their financial framework, plan their expansion strategically, and develop robust operational metrics to secure investor confidence and drive growth.
Approach
We worked in close collaboration with the management team to understand their business model, target markets, and growth aspirations. Our comprehensive assessment of their existing financial framework, proposed expansion strategies, and operational efficiency measures led to the design of a tailored approach to address their distinct requirements.
Implementation
Financial Infrastructure Development: We built a sturdy financial planning and analysis model that provided reliable, real-time data for informed decision-making and persuasive investor presentations. This model was pivotal in quantitatively assessing the potential impact of the expansion plan on their financial health.
Feasibility Study: We performed an in-depth feasibility study to gauge the viability of opening new locations across Manhattan. This study encompassed market dynamics, potential clientele, competition analysis, and financial implications, laying out a roadmap for the proposed expansion.
KPI Framework: Recognizing the importance of performance metrics in successful business operations, we devised a tailored KPI framework. We integrated both operational and financial indicators, empowering them to monitor performance, pinpoint issues promptly, and make data-driven decisions.
Investor Material Preparation: Recognizing their need for additional funding for expansion, we developed comprehensive investor materials. These highlighted the practice’s growth potential, financial stability, and strategic advantages, which included a compelling investor pitch deck, detailed financial projections, and an expansion roadmap.
Results
Fortified Financial Infrastructure: The robust financial infrastructure we developed empowered the practice to approach investors with a refined financial structure, giving investors the confidence to support their plans. This initiative played a crucial role in their successful fundraising, facilitating the opening of a 10,000-square-foot location on Madison Avenue in early 2023.
Validated Feasibility Study: The study we conducted provided indispensable insights into the viability of the expansion plan, showing potential return on investment and attracting investor participation.
Effective KPI Framework: The tailored KPI framework allowed the practice to monitor the operating efficiencies and financial performance of both existing and future locations. This led to a 30% improvement in operational efficiency and a 25% increase in financial performance, underscoring the value of a data-driven approach.
Successful Financing: Our assistance in fundraising paved the way for the practice to secure significant investment for their expansion plans. Our investor materials were integral in achieving this objective, garnering the necessary funds and backing for a similarly sized location in Tribeca, New York, slated to open in 2024.
Refined Expansion Strategy: The partnership yielded a refined and actionable expansion strategy aligned with their growth ambitions. Our feasibility study, combined with the strengthened financial infrastructure, will prove pivotal in driving the successful launch and operation of future locations