I would be lying if I said I did not love numbers, but what draws me to accounting and finance is the story those numbers tell about your health and wellness practice. Revenue tells me one part of the story, while cash flow can tell me something very different about what the practice is producing and what it can support.
After more than 20 years in accounting and financial leadership, I have learned to look beyond the total at the bottom of a financial statement. I want to understand what created the number and the role it plays in the practice’s financial story.
My two accounting degrees and MBA gave me a strong technical foundation for understanding financial statements and the activity behind them. Becoming a Certified Fraud Examiner (CFE) added another layer to how I examine what sits behind the numbers.
I am also a doctoral candidate in Leadership & Organizational Innovation. My doctoral studies have expanded how I think about the leadership decisions inside a practice and how those decisions eventually show up in its financials.
When I look at an established health and wellness practice generating $1 million or more in annual revenue, I begin to see the cast.
I would be lying if I said I did not love numbers, but what draws me to accounting and finance is the story those numbers tell about your health and wellness practice. Revenue tells me one part of the story, while cash flow can tell me something very different about what the practice is producing and what it can support.
After more than 20 years in accounting and financial leadership, I have learned to look beyond the total at the bottom of a financial statement. I want to understand what created the number and the role it plays in the practice’s financial story.
My two accounting degrees and MBA gave me a strong technical foundation for understanding financial statements and the activity behind them.
One service may be the main character after generating the largest share of revenue, while another may look like a supporting actor until its service margin reveals how much it contributes to profitability.
Then, there is the service everyone assumes is the star. Provider compensation or the cost of delivering that service can change its role once I examine its service margin.
Multi-location practices add another storyline. The location with the most revenue may look like the lead, yet another can produce the stronger margin once I examine location-level profitability. A smaller location can become the unexpected supporting actor. The same service can also play a different role from one location to another when provider compensation or the cost of delivering care changes. Consolidated financial statements give me the practice-wide story, while location-level financial reporting lets me see what is happening inside each location.
This is what I have come to love about finance: finding the story beneath the total and understanding whether the financial results support what everyone believes about the practice. Service profitability, cash flow, and the economics behind growth can reveal a very different cast from the one revenue introduces.
Becoming a Certified Fraud Examiner (CFE) added another layer to how I examine what sits behind the numbers.
I am also a doctoral candidate in Leadership & Organizational Innovation. My doctoral studies have expanded how I think about the leadership decisions inside a practice and how those decisions eventually show up in its financials.
When I look at an established health and wellness practice generating $1 million or more in annual revenue, I begin to see the cast. One service may be the main character after generating the largest share of revenue, while another may look like a supporting actor until its service margin reveals how much it contributes to profitability.
