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For Private equity and investment banks

Turn practices into better returns.

For private equity investors and investment banks, the difference between a good practice and a great investment is often fixable. We find the gaps, help close them, and help practices earn a stronger valuation.

Portfolio view: who's ready, who needs work
Collections Billing Contracts Providers Status Practice A Ready Practice B Ready Practice C Fix first Practice D No-List Practice E Fix first Practice F No-List Meets benchmark Close Gap
Swipe to see the full view → Illustrative figures, not a real practice. Results vary and are not guaranteed.
What we often hear from investors

Acquiring is often the easy part.

Standardization after the close

Closing the deal was the easy part. Then technology integration and process improvement become the bigger challenge.

Buying practices is often easier than making billing, workflow, and reporting run the same way across them.

What we do about it

We bring a ready playbook for billing, workflow, and reporting, so integration starts the week you close.

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The practices you passed on

For every practice you buy, there may be 10 you walked away from.

You've already done the expensive part: the evaluation, the meetings, the diligence. Many of those practices missed for reasons that can be fixed. We take on the burden of the fixes, so the work you've already done turns into cash flow and value for your LPs.

Acquired 1 practice : Passed on, for fixable reasons A/R days +$0.6M a year Billing cost +$1.2M a year Contracts +$0.5M a year Denials +$0.4M a year Providers +$1.1M a year Billing cost +$0.9M a year Coding +$0.5M a year Contracts +$0.7M a year Scheduling +$0.6M a year A/R days +$0.5M a year All ten, together ≈ +$7M a year in net cash flow · ≈ $70M at 10x
Swipe to see the full view → Illustrative figures, not a real practice. Results vary and are not guaranteed.
How we help

For private equity: improve what you already own.

We put every practice and provider on the same measures, fix the biggest gaps first, and make the fixes repeatable across the portfolio.

01

Benchmark the portfolio

Every practice and provider on the same measures, so the gaps are obvious.

02

Fix leakage before scaling

Revenue cycle and provider productivity first, then add practices.

03

Standardize across sites

Billing and workflow that plug into each acquisition.

04

Renegotiate with proof

Outcomes data that supports stronger payer contracts across the platform.

For investment banks

Send us your No-List.

Most banks pass on far more practices than they take, often because the numbers aren't ready yet. Send us the practices you've said no to. We review each one, help fix what kept it out, and bring it back ready for another look.

  1. You share the No-ListThe practices you considered and passed on, and why.
  2. We prequalifyA go/no-go readiness score for each practice, and the gaps that blocked it. The scoring model is ours; the results are yours.
  3. We fix what's blockingRevenue cycle, contracts, physician productivity, operations, and the books.
  4. We bring it back readyClean, benchmarked numbers and a practice prepared for your process.
Readiness, measured

What we review before a practice goes to market.

Financial

Starting with net collection rate and days in accounts receivable (A/R).

Contracts

Starting with payer rates against the market.

Physicians

Starting with productivity and alignment.

Operations

Starting with workflows and staffing.

The full readiness checklist is shared in your readiness review.

A different kind of first meeting

The Financial Quick-Wins Whiteboard Session.

Not a pitch. A working session with your deal or portfolio team and ours, built around one practice and the fastest financial wins in it.

  1. Bring one practiceOne you own, one under review, or one from your No-List.
  2. We whiteboard it togetherRevenue cycle, billing cost, contracts, and provider productivity, with your numbers on the board.
  3. We size the quick winsWhich fixes move net cash flow first, and roughly what each is worth.
  4. You leave with a planA short, sized list of quick wins and what it would take to capture them.

In a $30M practice, lowering the all-in cost of billing from about 40% to 15% of gross annual revenue could free about $7.5M a year. At an assumed 10x multiple, that would be about $75M in value.

Illustrative math at an assumed 10x multiple. Not a valuation.

See portfolio and provider views →

Let's talk about your portfolio, or your No-List.

Start with a conversation. Bring the practices you own, or the ones you passed on.