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Case study Of Hospital Care On Finance
Effectiveness By MyCFO
Our Client
Hospital Care is amongst the top 10 hospital chains currently
operating in India and operates 10 hospitals in Maharashtra with a
bed capacity of approx 750. The chain is Private Equity backed and
is in the middle of a significant expansion plan. Management
expectations are for Finance and Accounts (F&A) department to
provide visibility on Return on Investments from the new facilities,
capacity utilization, hospital profitability and Return on Capital
Employed (ROCE). The Hospital also runs ‘health care delivery’
centers and specialty labs within each of the hospitals that they
operate.
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MyCFO Role
The Hospital Chain and the Private Equity Fund have recently
engaged MyCFO to Benchmark the F&A’s staff capability with the
best practice run hospitals. The role involves documenting the key
outputs delivered by key F&A staff currently, their frequency and an
assessment of the quality of such output, best possible organization
structure in F&A to support the execution of Hospital Care’s
Business Plan, Possible re-deployment of resources to enable more
and better quality output, with the same F&A staff strength,
Evaluation of what tasks may need to be executed by the chain’s
F&A in the next 12 months, along with an assessment of which of
these tasks can be carried out by existing F&A team and which ones
may need external assistance. The objective of the study is to
recommend ‘SMART’ measures to improve Finance Effectiveness.
How the Client Benefited
MyCFO’s involvement helped Hospital Care to redeploy their team’s
time from routine activities to those that resulted improvement of
Finance Department effectiveness and allowed them to free up man
power through implementation of systems and better utilization of
current processes.
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