The first 100 days after your acquisition are crucial for a successful integration of a new business. You should identify a dedicated partner and an action plan to avoid missing essential steps. With LBMC’s ENCORE packages, we offer a wide array of services that provide stability and create an operational foundation during a period of rapid change. This gives comfort to private equity groups and executive teams allowing them to focus on growing the new entity while we support new platforms. LBMC ENCORE services include:

Analytics Services

Monitoring your daily operations and KPI’s can be a time consuming and overwhelming task. Assistance with building functional dashboards and operational tools can help you and your team take the pulse of the organization and act when the time is right.  Analytic services include:

  • Financial management
  • Software solution & implementation
  • Reporting structure development
  • Month-end packaging
  • Benchmarking/ KPIs
  • Operational dashboards
  • Infrastructure management
  • New location roll outs
  • Legacy data conversion
  • Data warehouse
  • Business intelligence
  • Analyst training

Cybersecurity Risk Services

As the day-to-day business environment becomes so reliant upon technology, companies are exposed to cybersecurity threats constantly. It is important to have a partner that works to protect against these threats and establish best practices within your IT infrastructure to ensure your data is secure. When you feel confident that your data is protected, your customers and patients can rest assured that their data is protected. Cybersecurity Risk services include:

  • PCI
  • IT integration
  • Cyber security program implementation
  • HiTRUST
  • Outsourced IT/ CIO/ CISO
  • Ongoing risk assessment
  • CyberMaxx managed security services
  • Vendor risk management

Healthcare Consulting

Healthcare organizations are faced with constant changes to their operating environment. A healthcare consulting team of experts with real-world operations and healthcare management experience can serve as an extension of your team and provide the guidance to address areas of need and propel your organization forward. Healthcare Consulting services include:

  • Coding & compliance
  • Valuation solutions
  • Post-acute strategy
  • Telehealth planning & implementation
  • Physician compensation valuation
  • Reimbursement consulting
  • Provider credentialing
  • Healthcare data analytics reporting
  • Revenue cycle solutions
  • EMR support & IT solutions
  • Practice management & administrative oversight

 

Management Services Organization (MSO)

Many companies leverage numerous providers and systems to address different components of accounting, revenue cycle, technology, payroll and other operational processes.  The challenges associated with monitoring these disparate systems and processes can be alleviated through a  Management Services Organization (MSO). An MSO model brings all these processes under one roof in a consistent and streamlined approach, which reduces the monitoring burden on an executive team. An MSO can incorporate:

  • Outsourced financing & accounting
  • Procurement
  • Human resources (PEO/HRO)
  • Executive recruiting/temporary staffing
  • Network technology
  • Phone systems
  • New location roll outs
  • Nexus assessment/ state and local taxes

 

Financial Services

Once you have closed a transaction, there are a significant number of processes to implement and tasks to complete. The LBMC team has assisted companies through hundreds of transactions to alleviate pressure from accounting and finance teams that are stretched to ensure the implementation goes smoothly. Financial services include:

  • Tax structuring and elections
  • Stub period and successor period tax returns
  • Purchase price allocation
  • Valuation of assets
  • Working capital (target and settlement)
  • Opening balance sheet accounting
  • Back office / Billing department infrastructure
  • Financial modeling

Frequently Asked Questions

Have questions? Here are some of the most frequently asked questions about LBMC ENCORE services.

Q.What are the benefits of utilizing LBMC ENCORE services?

A. Benefits include:

  • One-stop shop for multiple services saving headaches from working with multiple advisors/ vendors
  • One main point of contact for multiple services
  • Cost savings to you in bundling services with one partner, LBMC ENCORE services

Q. Who will my designated contact be at LBMC ENCORE?

A. Your ENCORE concierge will be your main point of contact. This person will act as an account manager to ensure that you are satisfied and to keep you updated on all projects.  The concierge        will meet regularly with the internal LBMC team to discuss status, etc. and provide you with updates.

Q. Will I have to spend time talking with multiple teams across services?

A. While you will need to interact with various service teams to plan and implement those respective services, your concierge will be your main point of contact. This person will ensure holistic communication to the LBMC teams to reduce redundancies in communication with you.

Q. How much money will I save by bundling services with LBMC ENCORE?

A. You can expect a minimum discount of 5-10% in cost savings.

Q. Will I have one or multiple invoices to pay?

A. For your convenience, you will have one bill to pay with details of the multiple services included. Any one-off projects or changes to scope with be invoiced separately.

Q. Will I be able to add or remove services as needed?

A. Yes! We recognize that needs can change over time. Packages can be scaled over time based on the evolution of the new entity and level of support needed.

Q. Do I need to subscribe to all the services in a package or can I pick and choose what I need?

A. All our services can be packaged or provided a-la-carte based on your needs. We can also create custom packages.

 

Think LBMC ENCORE services could help you?  Reach out to Brad Bonde for more information at bbonde@lbmc.com or 615.309.2434.