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.