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Case Study - Questions and Answers

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At this point, we had a much-clearer picture of what the Rickenbachers needed to do to achieve their goals for Medi-Bill.

The next step was to ask them whether Medi-Bill had the internal capabilities to do what was needed. This wasn't just asking about employees or resources, but about their own personal abilities and committment. And of course, the discovery process raised some additional questions which needed clarification.

Below you can see a summary of the questions we posed to the Rickenbachers and their answers:


Assumptions - Answers:

Will the medical profession continue to require billing services? In the short to medium term, but it is possible that technology will eliminate much of the human element from the process.
Will a marketing effort generate new business? Yes, given how successful they have been just by word of mouth referral, they can probably leverage that reputation in their marketing efforts. There is also an industry trend toward outsourcing of billing services.
Is there an opportunity to expand their company model beyond medical billing services? Yes, there are other professional services groups such as dental, legal, engineering, etc. that could use this type of service.
Are their internal systems adequate for growth? Their systems need to be better documented. Once that is done, they have plenty of space and people capacity to grow into.
Can Marcy and Barry find the personnel they need to transition day-to-day management of the business away from themselves? Yes, they already have two key personnel who are prime candidates for handling the operations and finance aspects of the business.
Are they a good candidate for a performance measurement approach? Yes, given how Barry and Marcy want to travel, they are very keen to support this effort. They also see that their investment in this program will increase the overall value and salability of the business.

The Rickenbachers were able to quickly answer these questions and proceed to the next step. The last three questions were answered by CFO Plus, based on experience with other businesses that have gone through the CFO As You Grow program.

Previous: The Discovery Process Next: The SWOT Team

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