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Addressing cash flow and resolving software issues

Operating as the timeshare CFO, CFO Systems stepped in to assist a specialty medical practice that had dramatic cash flow issues. Many of these problems stemmed from the incorrect installation and use of an electronic medical records (EMR) system, which cut off all electronic billing procedures and brought the practice’s cash flow to a halt.

After thoroughly researching the issue, CFO Systems supervised the re-installation and repair of the EMR system so that it functioned properly. We then communicated with creditors to develop payment plans and terms so the practice could meet its financial obligations.

To simplify the practice’s operations, CFO Systems collapsed the excess number of legal entities involved. We introduced the staff to qualified tax CPAs and engaged their services. We secured additional capital to allow for facility expansion and additional bank financing to facilitate new growth.