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Preparing a “real time” budget that is sufficiently flexible and variable is a critical part of any comprehensive funding application package. Just as you must diagnose your patients before creating a Plan of Care, lenders must “diagnose” your current financial condition as well.
This is one of the major differentiators between us and the funding source – they expect you to do this time consuming project before you ever approach them. However, we can use our extensive resources to streamline this process and not only create a budget, but also identify the following:
Having the knowledge of current healthcare funders/lenders, what they offer and their requirements is key. GPA, given its years of experience, has a wide range of funding sources and strategic alliances ranging from traditional loan funds to private/venture capital. We take the time to explain all of your options and work aggressively to secure the resources you need. We work closely with different healthcare financial products, including...
Each funding source has different preferred borrowers and different paperwork required. As we work with you on the proforma financials, including forecasts for revenue enhancements we use our proprietary underwriting tools to adapt each request to the requirements of the target funder.
Knowing what Revenue Enhancements are available and which ones best meet the specific needs of your unique practice and patient panel is the key. We can explain what each one may offer your patients, the impact on your practice workflow, their “marginal utility” and direct effect on your cash flow. As a healthcare financial services company, GPA has partnered with the leading companies in each space to facilitate this task.
We know the numbers, which, as we work together to prepare your proforma cash flow, will reveal to us and your potential funding source which (if any) revenue enhancement to implement. A critical path chart is also prepared so that the implementation can be transitioned into the loan repayment. It will serve you well to gather the following:
Examples of how revenue enhancements will work for you are seen below. Although there are many examples, the simplest is (taken from the averages of one of our bank partners) a term loan:
| Amount | $1,000,000 |
| Interest Rate | 4.25% |
| Term | 120 MOS |
Preparing an aging of accounts receivable is vital. GPA, its principals growing up in the capital markets, fully recognize the need for “actual liquidity” rather than simply a “balance sheet figure.” One cannot pay the bills with something on the balance sheet unless it is a performing asset. The three emphases:
GPA, its principals growing up in the capital markets, fully recognize the need for “actual liquidity” rather than simply a “balance sheet figure.” One cannot pay the bills with something on the balance sheet unless it is a performing asset. Our three emphases are:
GPA’s Collection Performance Measures are excellent. With our proprietary underwriting and financial modeling systems, we are able to quickly analyze and evaluate your billing systems and receivables. It’s imperative to improve the accounts receivable turnover ratio so that the current ratio sufficiently improves (and, continued to improve) to get you to the desired DSCR. Similarly, the more affordable we make the patient experience, the more revenue more the patient engage you in elective treatments.
