Financial Consulting
The fact that PYA operates as an accounting firm held to the professional standards of the AICPA gives us an edge in many services, but especially involving Financial Consulting. Our multitude of Certified Public Accountants that operate in the consulting department lend strength to the training in finance, business administration, and economics that many of our professionals possess. When your needs include financial modeling, impact analyses, and financing options, you can be assured that working with PYA will bring unparalleled experience and expertise to your organization.
Our experiences range from valuations on sole practitioner physician offices to participating in some of the largest bond issuances in not-for-profit healthcare. We are able to assist clients on the brink of collapse as well as those positioning themselves for exciting growth through mergers and acquisitions. No matter what your needs in the area of healthcare finance, you can be certain that PYA maintains the requisite training and experiences to exceed your expectations.
Services Offered:
- Financial Planning and Analysis
- Management Services
- Mergers and Acquisitions
- Valuations
- Debt Financing
- Financial Turnaround
- Bankruptcy
Financial Feasibility & Projections
Financial Feasibility & Projection Services Offered:
- Budgets, Forecasts and Projections
- Project Feasibility
- Product Line Planning
- Profit Enhancement
Competition in the healthcare market is as strong as ever, and even not-for-profit organizations must ensure that their decisions reflect excellence in financial performance as well as community service and public health. Shareholders, governments, community leaders, boards of directors, and the market as a whole demand that healthcare decisions be made only after careful financial planning. Many also value the advice of an objective third party prior to moving forward with planned changes. This allows for accountability and helps to ensure that your organization will continue to provide its valuable services in the future.
PYA has assisted hospitals, health plans, physician groups, and other healthcare companies in a variety of financial planning engagements to ensure that all aspects of finance and healthcare operations are reflected in well-designed models. Whether you are a hospital planning a facility expansion, a health plan submitting required financial plans to government agencies, or a physician group developing new compensation models, PYA is the right partner to assist in accounting for the myriad of financial issues surrounding the delivery of healthcare.
Management Services
Management Services Offered:
- Board Governance and Education
- Management Structure Planning
- Human Resources
- Retreat Planning
The involvement of our most experienced professionals (often Shareholders) in client service engagements continues to separate PYA from many of the other top professional services firms in the nation. We have chosen to operate our business in this way for a variety of reasons, but the primary reason remains that our professionals ultimately remain in this industry because they enjoy client service. When your organization calls for assistance at the highest levels, it is comforting to know that PYA stands ready with professionals of the highest caliber to help you through any issues that arise. We have assisted clients in overcoming entire management turnover, pursuing grueling litigation, and improving the turnaround time on monthly financials to allow for more timely management decisions. From objective opinions on day-to-day management issues to board of director retreat planning, our ability to assist the management teams of various clients has allowed PYA to maintain longstanding client relationships in which we truly function as business partners.
TOPMergers and Acquisitions
Mergers and Acquisitions Services Offered:
- Development of Purchase or Sales Price
- Due Diligence
- Request for Proposal Coordination
- Offer Memorandum Development
- Feasibility
- Regulatory Approval and Filings
One of the earliest successes achieved by PYA was professional support
for the acquisition and conversion of a for-profit facility by a not-for-profit
health system. Our outstanding work on this engagement was the cornerstone
of a now nearly 25 year relationship with a client that has continued to
expand its presence through acquisition of additional facilities. It was
fitting too that we were able to participate many years later in the largest
for-profit purchase by a not-for-profit hospital consortium in history.
Mergers and acquisitions continue to pose some of the greatest possibilities
and risks for our clients. Great potential is often the easier to see of
the two. Often identifying significant risk factors can be more difficult
but also more valuable in the long run.
PYA takes great pride in its ability to assist clients in these exciting strategic opportunities for growth and change. We believe that an independent advisor can assist tremendously in providing objective advice on how to move forward and when to pull back. Expertise in tax planning, operational consolidation, regulatory and governmental compliance, and financing are just some of the many services that we can offer related to your transactional needs. If you are considering the possibility of a merger, acquisition, or sale of an existing entity, please call PYA to discuss how we might assist in protecting your interests and optimizing your benefits.
Valuations
Valuation analysis is an example of PYA's adaptation to the dynamic changes in the healthcare industry. Many of our clients were challenged with opportunities and situations that required valuation services, and we responded to this need. As a result, we have obtained extensive experience in the valuation of healthcare as well as non-healthcare organizations. Our business valuation analysis focuses on asset-based, market-based, and income-based methodologies to produce a value that is indicative of not only the tangible assets of the business, but the intangible assets as well. PYA has performed valuation services for a variety of healthcare organizations including physician practices, ambulatory surgery centers, diagnostic centers and other ancillary providers for the purposes of facilitating joint ventures, mergers and acquisitions or equity buy-in situations. Additionally, we have performed valuation services for many non-healthcare organizations such as restaurants, manufacturers and car dealerships.
Our valuation consultants are affiliated with the American Society of Appraisers, the Institute of Business Appraisers and the American Institute of Certified Public Accountants and hold certifications/designations including CPA and ABV (Accredited in Business Valuation).
ValuePoint
Consulting Group, a specialized practice of PYA, provides technical
support with a team of experienced and credentialed professionals.
Debt Financing
Debt Financing Services Offered:
- Debt Structure and Restructuring
- Coordinate Underwriters
- Achieve Appropriate Ratings
One of the key means for not-for-profit healthcare entities to raise capital is through debt financing. Over the last three years, PYA has advised clients on the issuance of over $1 billion in debt instruments. These clients have used our financial expertise as a resource to obtain optimal debt structure, develop presentations to potential underwriters, identify other firms to participate in the debt offering, and produce reports and data for ratings agencies. We have worked with local and national groups in securing financing for our clients, including Salomon Smith Barney, Merrill Lynch, Lehman Brothers, MBIA, Moody's, Standard and Poor's, and Fitch.
Issuing debt can be a hectic and high pressure process. PYA will make a difference.
Financial Turnaround
Financial Turnaround Services Offered:
- Cash Management
- Review of Internal and Operational Controls
- Strategic Turnaround Planning
- Board Education and Relationships
- Interim Financial Management
- Evaluation of Bankruptcy Protection
Financial struggles are often accompanied by operational turmoil, leadership voids, creditor pressures, and lack of credibility. PYA addresses all of these needs for our clients that are experiencing severe financial pressure and are attempting to avoid bankruptcy. As senior creditors tighten, management often has difficulties reorganizing debt due to limited resources and sometimes inflexible creditors. Having the expertise of PYA during these times often gives creditors comfort while we address the underlying issues that have led to the poor financial status of our client. Our strength in accounting coupled with broad financial and operational services in the healthcare market have allowed us to negotiate very difficult turnarounds that ultimately resulted in renewed, healthy companies continuing their mission. If your organization is facing the pressures of a financial turnaround, please call the professionals at PYA to discuss how we can be of service.
TOPBankruptcy
Bankruptcy Services Offered:
- Expert Testimony
- Strategic Turnaround Planning
- Monthly Operating Reports
- Preparation of Plan of Reorganization
- Preparation of Disclosure Statements
- Liquidation Analyses
- Financial Administration of Estates
- Interim Financial Management
- Negotiation with Secured and Unsecured Creditors
Increased financial pressures in the healthcare market have led many organizations to poor financial position and the need to evaluate bankruptcy protection. PYA’s involvement with these types of companies helps us to understand the unique needs of community service organizations that are facing financial difficulties. We take a much different approach to clients that we service through bankruptcy proceedings, looking for unique solutions that maintain community services and minimize the impact on employees and their families. Our ability to think creatively and work directly with counsel and creditors allows us to implement creative solutions to assist our clients in emerging from bankruptcy. We have been instrumental in reorganizing and saving organizations that could not have continued in their mission without this expertise. If your organization is considering filing for bankruptcy protection or has already done so, please contact us to discuss how PYA can make a difference for your company.