Healthcare Group Close & Reporting Case Study Vancouver
Discover how a Vancouver healthcare group cut month-end close from 12 to 5 days and reduced lender variances by 45% with automated reporting solutions.
Introduction
In today’s competitive healthcare landscape, financial visibility and reporting accuracy are not optional—they are essential. Multi-location healthcare organizations, in particular, face unique challenges when it comes to month-end close, consolidation, and preparing lender-grade financial reporting.
This case study highlights how a multi-location healthcare group in Vancouver, British Columbia partnered with our M&A advisory and accounting experts to accelerate its financial close, enhance cash and margin visibility, and deliver banking-ready reports with confidence.
Situation
The healthcare group was experiencing several financial and operational bottlenecks:
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Slow month-end close cycles, delaying access to financial insights.
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Inconsistent general ledger (GL) structures across locations, making consolidation complex.
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Limited visibility into KPIs, such as margin and cash, until weeks after the close.
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Manual covenant monitoring, increasing risk of error and straining lender relationships.
The leadership team recognized that without a streamlined and standardized close process, they risked delayed decision-making, weakened cash flow management, and missed opportunities for growth.
Approach
Our team implemented a structured, technology-enabled approach designed to deliver both speed and accuracy.
1. Redesigned Close Calendar
We rebuilt the month-end close calendar from the ground up:
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Introduced standardized deadlines for sub-ledger cut-offs (accounts payable, accounts receivable, payroll).
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Sequenced consolidation activities across locations to minimize delays.
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Established clear ownership of every close task.
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Built accountability checkpoints, ensuring each step fed seamlessly into the next.
2. Standardized GL Mappings
Fragmented GL accounts across sites were a major obstacle to fast consolidation. We solved this by:
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Designing a uniform mapping schema applicable across all locations.
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Automating classification rules to reduce manual adjustments.
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Enabling clean, accurate consolidation at the click of a button.
3. KPI Dashboards for Margin & Cash
We introduced cloud-based KPI dashboards that connected directly to the GL, giving leadership next-day access to critical metrics:
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Gross margin and operating costs.
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EBITDA and net income.
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Cash position and working capital.
With dashboards updated automatically, the management team gained the ability to make data-driven decisions in real time rather than waiting weeks after the close.
4. Automated Covenant Workbook
Bank covenant monitoring was a manual, error-prone process that consumed significant time. To address this, we built an automated covenant workbook:
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Directly tied to the GL for accuracy.
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Instantly updated after close.
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Delivered real-time visibility into ratios such as debt-service coverage and leverage.
5. Fractional Controller & Banking Support
Beyond process redesign, we provided fractional Controller services to embed strong oversight:
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Conducted variance analysis and financial review each month.
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Prepared lender-ready reporting packages.
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Supported discussions with banks and debt providers.
Results
The transformation delivered measurable improvements within the first cycle:
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Month-end close reduced from 12 days to 5 days, giving leadership faster access to financial results.
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Lender variances reduced by 45%, strengthening trust and improving banking relationships.
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Next-day visibility into KPIs such as margin and cash flow, enabling agile decision-making.
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Automated covenant monitoring, saving hours of manual effort and eliminating reporting errors.
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Improved financial control and accuracy across multiple locations.
Why This Matters for Vancouver Healthcare Organizations
Vancouver’s healthcare sector is unique:
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Multi-site operations create complexity in consolidating financials.
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Seasonal staffing fluctuations and diverse payer mixes impact reporting cycles.
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Lender relationships—with both local credit unions and national banks—require timely, accurate covenant reporting.
By implementing standardized processes, automation, and robust dashboards, healthcare organizations in British Columbia can achieve both speed and precision in their financial reporting.
Key Takeaways
This case study demonstrates that accelerating close and strengthening reporting is not just about cutting days off the calendar—it is about unlocking real business value:
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Faster decision-making through timely, accurate data.
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Stronger lender relationships through precise covenant monitoring.
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Greater operational alignment across locations.
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Sustainable scalability with standardized processes and technology integration.
Conclusion
The Vancouver healthcare group’s journey shows how M&A advisory and accounting expertise can streamline close processes, automate covenant reporting, and provide real-time visibility into financial performance.
By combining process redesign, automation, and fractional Controller oversight, organizations can achieve faster closes, more reliable reporting, and stronger banking relationships—all while positioning themselves for long-term growth.