A mid-sized specialty health care provider organization offering residential and day services for consumers with intellectual and developmental disabilities (I/DD) was in a severe financial crisis. Their fiscal position was weakening by the day and cash flow was a big problem. COVID-19 exacerbated the situation as service utilization and revenue declined, costs of delivering residential services went up steeply, and they tried to retain day services staff by paying them despite decline in service volume.
I had the opportunity to help this provider organization get back on its feet with an aggressive cash management plan.
First, I . . .
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