Private Equity Practice
Four practice areas, named the way buyers look for them. Each is a place I have worked before and can step into quickly.
Most healthcare services investments live or die on operational execution. Sponsors and their consulting firms run rigorous analyses, but the read of an operation from the outside is not the same as the read from the inside. I bridge that gap. Twenty-two years of running and improving the kinds of businesses you are now investing in — RCM, multi-site provider operations, commercial growth, and post-close performance improvement — applied to your diligence, your value-creation plan, or your portfolio company’s next inflection point.
What I do for sponsors
Each is a place I have worked before and can step into quickly.
I sit beside your commercial diligence team and pressure-test the thesis’s operating logic. Where the desktop analysis says the company can grow, I tell you what is load-bearing: which contracts will renew and which will not, what the operating model can absorb, and what the founder or CEO is not telling you. I have done this work for top-quartile sponsors evaluating RCM and provider services targets.
I review the value-creation plan, the commercial strategy, and the prioritization model your team or your consulting firm has built. I explain where operating reality changes the answer. On a recent engagement, I segmented a 268-system commercial prioritization into the bands where the unit economics actually work, flagged two attractiveness criteria that were inverted, and tightened the leadership-change variable, which mapped to 70% of new-logo wins.
For portco CEOs and operating partners in the first 12 months, I help build the 100-day plan and the operating cadence behind it. RCM transformation, commercial growth, AI governance, and the executive coaching that makes the leadership team capable of executing. I lead with metrics and decision rights.
Provide sponsor- or operating-partner-level advisory on topics where one wrong call costs eight figures: payer strategy, RCM vendor decisions, AI deployment governance, M&A integration, and CFO/CRO succession. I serve as a sounding board for the sponsor and a trusted second opinion for the portco CEO.
When sponsors call me
Test the operating thesis on an RCM or provider services target before the bid goes in.
A senior operator’s read on the management team and the achievability of the model.
Build the 100-day plan and stand up the metric and governance cadence.
Pressure-test a commercial prioritization, an EHR conversion, or a cross-portco initiative.
Surface operational risks that will appear in a buyer’s diligence before they appear in yours.
AI governance, payer strategy, or RCM vendor playbooks shared across multiple companies.
Why this practice
Engagement patterns (anonymized)
AN INDUSTRY TOP SPONSOR
Situation
A top-tier PE-backed portfolio company’s sponsor and consulting partner had completed a prioritization of hundreds of health systems for new-logo growth.
What I did
Reviewed the assessment files. Surfaced two reversed attractiveness criteria. Tightened the leadership-change variable to CFO/CRO arrival in the prior 12-18 months. Introduced a nine-dimensional segmentation framework. Re-segmented the universe by NPSR band to align targets with badge-flip unit economics. Drafted a playbook for sponsor alignment before going to the consulting team.
WHY IT MATTERED
Prioritization is input to a multi-year value-creation thesis. Reversed criteria and missing variables would have mis-targeted commercial spend and slowed pWin on the highest-yield deals.
MY ROLE
Senior operating advisor (river guide). Pressure-test the prioritization methodology before it sets the next 18 months of the commercial pipeline.
OUTCOME
Three new variables were added to the prioritization. Two specific calls re-tiered. Sponsor and consulting team aligned on a refined commercial prioritization within two weeks.
GROWTH STAGE BUYER
Situation
A top-tier PE firm was evaluating an RCM target through a confidential sell-side process led by a major investment bank.
WHAT I DID
Surfaced operating questions the third-party studies could not answer. Validated the achievability of the growth model against my own ICP and unit economics frame. Flagged technology and commercial dependencies that materially shaped the bid.
WHY IT MATTERED
On RCM targets, the gap between the seller’s narrative and operating reality is where bids get mispriced. The operator’s read closes that gap.
MY ROLE
Operating advisor on the diligence team. Read the confidential information presentation, the RCM market study, and the technology assessment through an operator’s lens.
OUTCOME
A clearer operating read of the target before the bid landed. Several questions on diligence and market positioning reframed for management meetings.
Measures we look for
| Category | Measures to look for |
|---|---|
| Topline | NPSR uplift (%, $); new-logo TCV; renewal rate; retention; cross-sell ratio |
| Cash and working capital | AR days; cash acceleration ($ or days); first-pass yield; bad-debt reduction |
| Margin and EBITDA | EBITDA margin (bps lift); cost-to-collect (% NPSR); SG&A leverage |
| Commercial velocity | Pipeline conversion rate; deal-cycle time; pWin uplift on prioritized targets |
| Operating quality | Denial rate; clean-claim rate; productivity per FTE; offshore mix |
| Strategic / deal | Hold-period IRR contribution; valuation multiple delta; bid clarity; surfaced risk avoided |
Call to action
Most of my engagements start with a 30-minute call. We talk about the situation, whether I am the right operator for it, and what a useful first 30 days could look like. No pitch deck, no obligation.
What does a healthcare PE operating partner do?
A healthcare PE operating partner bridges the gap between investment strategy and operational execution, focusing on value creation, diligence, and post-close performance improvement.
