Certainly, patients expect medical facilities to be open and available for them. What they often don’t consider is the economics that goes into running such a facility or the hardships that the company might endure. Bolt Partners with Founder Tim Bolot works to help medical companies turn around and become economically solvent.
In one case study from October 2009 to August 2010, they demonstrated how to achieve such a goal. Bolt Partners had the job of rescuing a specialist medical facility that was weeks away from running out of cash.
Taking control of the business, Bolt worked as both the CFO and CRO. They maximized the short-term revenue and established a 13-week cash flow forecast. They created a program for managing the creditors and they held weekly performance meetings.
With these stabilizing forces in place, they developed a comprehensive turnaround plan which created another £2m of savings. Within ten months, they had stabilized the organization and had created a rise from £1m to £5m for their month-end cash balance. And, it’s on track to make a £2m profit in the current year.
New York health officials have recommended that HIV positive residents be offered AIDS medication as soon as the virus is diagnosed. This immediate, aggressive response has proved to prolong life and reduce the spreading of the disease in the past.
Until recently, standard practice has called off the medication until the immune system weakens significantly, due to the steep expense. The pills can cost up $15,000 a year in the United States. Now, New York City Health Commissioner Thomas Farley has expressed his optimism as recent studies have shown the significant benefits of early treatment, together with education and testing, which suggest a promising strategy for battling the disease.
“I’m more optimistic now than I’ve ever been about this epidemic that we can drive our new rates down to zero or close to it- eventually. I don’t know how soon. But I’m very optimistic of the direction that it’s going to take the epidemic to,” Farley said.
Manhattan’s NewYork-Presbyterian Hospital/Columbia University Medical Center is conducting a groundbreaking lung transplant trial. The new method differs from traditional transplants in that it is conducted “ex-vivo,” or, outside the body. Instead of making a quick decision regarding whether an organ is suitable for transplant, the ex vivo procedure allows doctors to revive the lung and determine its potential by pumping it with oxygen and a nourishing solution.
“These would have been lungs we would have turned down because of poor quality. This provides the opportunity to increase lung transplants performed,” explained Frank D’Ovidio, the head doctor on the FDA trial.