Group Practice
Client Overview
- Physician Group Practice of 25+ Physicians looking to implement a $1MM Electronic Health Records project
- 12 month implementation & integration timeline
- Cost to include 100% of software, implementation, consulting & integration
Business Challenges
- The client requested a 60 month lease term to cover 100% of software & soft costs
- Financial statements were unaudited & in a non GAAP format
- Minimal up-front deposits & costs was required
- The ability to make milestone payments to vendors during the 12 month implementation was a necessity
Solutions Implemented
- The project scope was outlined during an onsite visit
- IFS identified that the new system would be partially funded through the Federal Government
- Project efficiencies were discovered by the IFS credit team
- Previous experience in financing EHR projects was key in structuring a solution
The Result
- The client awarded the $1MM EHR project to IFS based on our vertical & structuring expertise
- IFS delivered a 60 month approval with no up-front deposits & a monthly lease schedule
- 100% milestone payment funding during implementation period was secured
- A coterminous, cross-collateralized, lease schedule solution was developed
