HIRE INTERIM
CFOs FOR YOUR HEALTHCARE BUSINESS
Meet proven leaders ready to step into your healthcare company’s vacant finance and accounting C-suite role.
“I’ve always been so impressed by your network, deep firsthand understanding of what ‘great’ looks like for PE and your ability to run down trusted back channels from trusted sponsors and that all came to bear here in such a meaningful way.”
PE Firm Managing Director, Talent
TRUSTED BY HUNDREDS OF PRIVATE EQUITY FIRMS AND THOUSANDS OF PROACTIVE HEALTHCARE BUSINESSES
Why Trust BluWave for your Temporary Healthcare CFO?
You need an interim CFO fast, and BluWave already knows the best candidates. We’ll connect you with a short list of temporary chief financial officers within 24 hours of reaching out to our team of research consultants. Get matched by industry, company size, revenue models and other specific variables with the pre-vetted executives in our exclusive network.
800+ Interim CFOs
40+ Industries
<24 H Get connected
Advantages
Expedient hiring process
Proven candidates
CFOs in your area
Extensive network
Project-specific vetting
Simple, consultative process
Expedient hiring process
Interim CFO Recruitment with BluWave
Lightning-fast interview process
Double-verified recommendations
Available CFOs who are local to you
Robust bench of experts
Tailored hires for specific projects
BluWave’s hands-on, white-glove service
Connect with best-fit, pre-vetted resources
Generalist Interim CFO firms
Lengthy 5-6 month hiring process
Commitments to unproven candidates
Remote CFOs who need to relocate
Limited word-of-mouth references
Non-specialized & generalist candidates
Self-serve platform to learn and navigate
Hassles of traditional hiring evaluations
Temporary CFOs who understand the challenges your healthcare business faces
Interim CFOs On Demand
Pain Points of Not Having a CFO
Financial Reporting and Compliance
Without a CFO, you struggle to maintain the level of financial oversight required in a highly regulated industry. You’re at risk of non-compliance with regulations like HIPAA and could face fines or penalties if your reporting isn’t up to standard.
Cash Flow Management
Healthcare businesses often have complex cash flow issues due to delayed payments from insurance companies and fluctuating patient volume. Without a CFO, you could have problems managing cash flow effectively, which can cause stress about meeting payroll and maintaining liquidity.
Budgeting and Forecasting
In healthcare, your budget planning and resource allocation become significantly more complex without a CFO at the helm. The absence of an experienced financial leader can result in inaccurate forecasts, potentially leading to mismanagement of critical resources like staffing, equipment, and patient services. This can ultimately affect patient care quality and disrupt long-term strategic initiatives aimed at expanding services or improving healthcare outcomes.
Investor Relations
Your CFO plays a crucial role in not only communicating financial performance to investors but also ensuring that your healthcare organization meets stringent regulatory requirements. Without a CFO, you may find it challenging to provide the comprehensive financial reports that include regulatory compliance updates, which investors heavily rely on. This lack of detailed financial insight and compliance assurance could diminish investor confidence in your organization’s ability to navigate the complex healthcare landscape.
Challenges of Finding a Replacement for Your CFO
Time-Consuming Process
Finding a qualified CFO in the healthcare sector is time-consuming. The market is competitive and it’s challenging to find candidates who not only understand the nuances of healthcare finance but also fit company culture.
High Cost of a Bad Hire
The risk of hiring the wrong person is significant. A poor hire could set you back months and potentially disrupt the business further. You need someone who can hit the ground running, but the process of vetting and interviewing candidates is slow and resource-intensive.
Pressure from Stakeholders
There’s immense pressure from your board and investors to fill the position quickly, but you can’t afford to rush the decision and end up with a candidate who isn’t a good fit.
Benefits of Hiring Your Interim CFO with BluWave
Immediate Stability
An interim CFO can quickly bring stability to your healthcare finance operations. BluWave can connect you with top candidates within 24 hours, allowing them to step in and manage critical financial tasks, ensuring smooth operations during your search for a permanent CFO.
Healthcare Expertise
You’ll only meet candidates with deep experience in healthcare finance, compliance and regulatory issues. These temporary finance leaders can navigate the industry’s complex environment, manage your cash flow and improve your financial reporting with minimal onboarding.
Objective Perspective
An interim CFO can provide an objective, outsider’s perspective on your financial operations, potentially identifying inefficiencies or areas for improvement that an internal hire might overlook.
Bridge to Permanent Hire
Hiring an interim CFO gives you the breathing room to conduct a thorough search for a permanent CFO without sacrificing the quality of our financial management in the meantime. Some of our candidates are even converted to permanent roles during their interim assignment.
Mitigate Costs
Our interim CFO candidates can deliver results fast without the risk of long-term commitments or high replacement costs.
Client Testimonials
Why Business Leaders Use BluWave
The interim executive you selected for us did great work. We would rate her as great overall.
CEO, Portfolio Company
Effective communicator, strong orientation towards metrics and hyperfocused on the ‘big rocks.’ Pleasure to work with as always! Responsive, timely and thoughtful.
Vice President, PE Firm
Your resource was very attentive and understood the requirements very quickly. They devised a plan, provided it in writing and dealt with both internal staff and external parties on our behalf very professionally.
Executive, Portfolio Company
TEMPORARY CFO SERVICES
WHEN TO HIRE AN INTERIM CFO
Your full-time CFO abruptly left or was dismissed
You recently acquired a new company and need an experienced finance leader
You’re preparing to sell a company
You want to evaluate a candidate as a potential full-time hire
“In healthcare, an interim CFO is essential for ensuring financial stability during leadership transitions. They understand and manage complex regulatory environments, address revenue cycle challenges and optimize patient care costs while the company secures a permanent CFO.”
Keenan Kolinsky
Managing Director, Head of Research & Operations
Client Success Stories
Strategic Interim CFO Leadership for a High-Growth Private Equity Firm
Enhanced Financial Leadership and Preparedness for Acquisition
With the interim CFO in place, the private equity firm was better equipped to handle the financial intricacies of its upcoming acquisitions. The executive’s expertise in financial management and strategic planning was instrumental in positioning the firm to successfully expand and manage its investment portfolio, thereby achieving its goal of preserving and growing client capital efficiently.
Interim CFO Crucially Needed for Portco Carveout
Strategic Leadership Ushering in Financial Revitalization
A principal at a PE firm came to us with a critical need for an interim CFO to lead the carveout of a healthcare company that they had just signed on. With closing occurring in 60 days and a 12-month TSA that would then begin, the firm urgently needed an interim CFO that could be dedicated to the carveout infrastructure.
Interim CFO with Expertise in Commodities, Hedging for PortCo
Securing a Competitive Advantage with Expert Analysis
With the interim CFO on board, the company maintained seamless financial operations, ensuring that their hedging strategies were effectively managed and that their financial reporting remained accurate. The temporary executive’s expertise allowed the CEO to focus on other critical aspects of the business, confident that their financial operations were in capable hands.
Private Equity Interim CFO: Resources
Interim CFO Services: 20 Critical Tasks They Perform
When a company loses its full-time CFO – or is about to – keeping its financial strategy moving forward without interruptions is key. This is where interim CFO services come into play.
PE Firm Needed Multiple Timely Resources Across Portfolio Companies
The portco achieved a complete and accurate inventory assessment, crucial for financial transparency and operational readiness during peak seasons. The leader BluWave connected to help with this project then worked closely with the interim CEO.
Interim CFO Consulting for Your Portfolio Company
Private equity firms that need to find the right interim chief financial officer for their portfolio companies face a difficult task. The stakes are high, time is short, and experienced financial leadership is crucial.
Key Considerations when Hiring an Interim CFO
Identifying an interim chief financial officer can be tedious, if not expensive. Companies that don’t know what they’re looking for when they begin their search could spend large sums of money on headhunters and recruiting firms. BluWave has a better way.
Interim CFO for a Financial Crisis
When a company faces a financial crisis, an interim chief financial officer can make all the difference in a successful turnaround. Whether going through a restructuring, facing bankruptcy or other challenging financial situations, an experienced financial leader is essential.