COMPANY PROFILE
Precision Healthcare Financial Consulting is an industry specialist B2B company established to deliver high value management consulting and advisory services to medical groups, hospital systems and surgery centers. We specialize in helping our clients achieve their strategic objectives through improving operational performance, mitigating risk and transactional support.
The company was established in 2021 by our founding principal with 15 years experience in finance and healthcare working for some of the nations largest and most reputable health plans, medical groups and hospital systems in the nation. Our objective is to bring our experience and best practices from industry leading companies to your business efficiently, effectively and at an affordable cost so you can continue to thrive long after our engagement.
Our clients leverage us as experts in the areas of corporate financial planning, analysis and reporting, operational analytics and dashboarding, transaction support for valuations related to mergers and acquisitions and interim management to bridge the gap associated with the ever changing structural dynamics within our industry.
OUR TARGET CLIENT
Our consulting services cater to the centralized business office of medical groups and hospital systems in the middle market with 200-1000 employees. Our primary focus is on supporting the CFO and Controller, but we also provide specialized services to CEOs on strategic matters, COO & CMO on volume statistical reporting, HR on productivity modeling and benchmarking, and IT on an as-needed basis.
We offer specialty support to both inpatient and outpatient healthcare facilities, with an emphasis on clinical departments such as Acute Eating Disorders, Breast Imaging, Cardiology, Emergency Medicine, Family Medicine, Intensive Care, Internal Medicine, Interventional Radiology, Laboratory, Nuclear Medicine, Nursing, Neurosurgery, Oncology, Orthopedics, Pharmacy, Primary Care, Pulmonology, Physical Therapy, Radiology and Imaging, Sleep Medicine, Spine, Surgery, Urgent Care, and Vascular. Additionally, we support non-clinical central business office functions including Accounting, Billing, Finance, and the Office of the Executives.
Lucas McCormley
Principal Consultant
BACKGROUND
Lucas, the founder of this company, brings a wealth of experience in healthcare finance and analytics. Prior to starting this venture, he held various positions in health plans, medical groups, and hospital systems, including Kaiser Permanente Mid-Atlantic States, The George Washington University - Medical Faculty Associates, Johns Hopkins Medicine - Suburban Hospital, Denver Health Hospital Authority, and Radiology Imaging Associates / Invision Sally Jobe.
With a proven track record in managing teams for finance and analytics departments, Lucas has developed expertise in several key areas. He has led the operating and capital budgeting process for multi-specialty hospital systems and medical groups, with a focus on business unit-level details and utilizing FTEs to leverage various benchmarks and skill mixes. He has also managed salary and labor/productivity reporting, comparing results to established benchmarking and flex features. In addition, Lucas has supported salary modeling, contract and labor negotiation processes, and developed performance improvement and action plans to align with long-range planning initiatives and cost-saving measures.
Lucas has extensive experience in financial modeling for evaluating new business opportunities or optimizing outcomes of existing business lines. He designed and implemented the financial M&A process for a major university hospital system, leading a team of analysts with the goal of consolidating the Washington DC marketplace. He also valued and tested the financial feasibility of over 110 multi-specialty independent physician practices, 3 hospital systems, and several Ambulatory Surgery Centers.
As a seasoned manager, Lucas has overseen departments responsible for analyzing new service lines to hospital systems and running the capital committees responsible for authorizing and allocating funds for new business initiatives. He has held managerial positions with companies that had gone through organizational changes and either rebuilt teams from the ground up or directed multi-functional departments to become highly efficient teams in both hospital and medical group environments. Lucas has also led teams of 6 in both classical managerial arrangements for a medical group and cross-matrixed arrangements for hospitals.
Lucas is an expert in liaising with operations to explain monthly financial results, variances, and coaching business lines to profitability. He has also developed financial reporting and advanced analytic report development for operational dashboarding, with a particular expertise in volume-driven metric and RVU reporting.
RECOMENDATIONS & TESTIMONIALS
"I enjoyed working with Lucas during our time at Kaiser Mid-Atlantic. He's super smart, drives insight to outcomes. I'd work with him again in a heartbeat if the opportunity arises!"
- Dr. Terry Gilliland, Associate Medical Director, Hospital Operations, ASC's, Lab, Pharmacy, Utilization Management, Network Management, Mid-Atlantic Permanente Medical Group.
"During the time I worked with Lucas, he made important contributions to the organization. He was able to provide monthly P&L statements and analysis on a monthly basis on complex lines of business as a new analyst, and came up to speed quickly on the information. He analyzed budget variances, including revenue variances related to complex coding issues, using various financial and software tools to drill down until the root cause of the issue was found and addressed. He utilized Lean performance tools and standard work, explaining issues in a manner simple to users at various levels utilizing the SBAR format. Lucas has solid financial and analytical skills."
- Peg Burnette, CPA, FHFMA CFO, Denver Health Hospital Authority.
"Lucas is a detail-oriented and passionate healthcare finance professional. I had the pleasure of working directly with Lucas for over four years on practice acquisitions and employment modeling in the finance department of the George Washington University Medical Faculty Associates. He was a consummate professional, a dedicated team player, and was focused on providing quality and timely analysis. Lucas consistently took a tactical approach to his work, always focusing on ensuring positive long-term health system outcomes with every project. He is a trusted financial thought-leader, and it would be a pleasure to work with him again in the future."
"I Highly recommend Lucas. He’s very smart, detail oriented and easy to work with."
- Micah Johnson, Manager of Finance, Denver Health
"I worked with Lucas over the course of a year at RIA. I believe that Lucas will be able to deliver on firm goals and deadlines related to your organization. He is very thoughtful and will ensure all variables are accounted for."
- Logan Stritzke, Director of Revenue Cycle Management, RIA - ISJ
SERVICE LOCATIONS
We primarily operate remotely from the Denver Metropolitan area, giving us the flexibility to serve clients across a wide geographic range. Our service areas cover a commutable distance that spans from Fort Collins to Colorado Springs, allowing us to assist businesses throughout the region.
Additionally, our services are not limited to Colorado; we also offer support on the east coast in the District of Columbia, Maryland east of Frederick, and Northern Virginia areas, as well as the west coast of Florida. Whether you're located in one of these areas or beyond, we're always here to help your business succeed.
We are happy to accommodate clients preferring in-person meetings or presentations outside of the greater Denver metropolitan area. We believe that strong client relationships are built on trust, and we are committed to working closely with our clients, no matter where they are located.