The healthcare investment bank and advisory firm Ziegler recently held a webinar for radiology groups on how to effectively manage the challenges of sharply lower patient volumes due to the COVID-19 pandemic, and concurrently position their practices for long term growth.

Click here to view the full webinar.

The discussion includes insights from Andrew Colbert, Ziegler senior managing partner and practice co-founder, and Drew Braucht, vice president of healthcare investment banking. The pair review various programs and funding options available to practices as they evaluate capital sources, especially during this crisis.
Colbert and Braucht describe a five-step scorecard to help practices determine their resilience as a baseline. These include:

• Engaging with a trusted adviser entailing a review of objectives and long-term goals, performing a detailed financial review, and developing 5-year strategic plan.


• Performing a strategic practice assessment to understand the current and potential valuation of the business, gaining an understanding of the current and potential valuation of the business, evaluating strategies to build shareholder value and conduct a SWOT (strengths, weaknesses, opportunities and threats) analysis.


• Identifying gaps, limitations and opportunities including the area where the practice needs strengthening and enhanced competitive positioning, and understanding the potential levers to improve financial performance.


• Evaluating strategies to achieve scale requiring an understanding of strategic option pros and cons, the possibility of partnerships to accelerate growth, and how to develop criteria to identify an ideal partner.


• Exploring with partners and/or investors the potential options to gain scale, evaluating strategic capital opportunities and determining cultural fit and strategic synergies.

In addition, Colbert and Braught underscore that, in the current environment, it is particularly important to perform financial modeling, and analytics to asses liquidity needs and cash runway for the next six months. They also provide insights into performing financial stress testing and scenario analysis,

They are providing guidance about managing operating expenses in order to reduce expenditures quickly during the pandemic , as well as how to take advantage of revenue opportunities such as seeking accelerated payments from Medicare and other payors, and evaluating telemedicine opportunities. Other advice on near-term solutions includes how and where to seek external financing options as well as federal funding programs such as the CARES Act and/or private debt and equity capital sources.

Throughout the webinar, Ziegler's insights are offered in a clear and understandable manner. HealthCare Business News encourages healthcare providers from radiology, or other specialty practices, to view the full presentation and learn more about how to weather this crisis, as well as strengthen care delivery over the long haul.

Business Affairs Homepage