The Secret Weapon for Healthcare Practices: Understanding Fractional CFOs Featuring Lizette Peña, EP 166

In this episode, we sit down with Lizette Peña, CPA and fractional CFO at Ascent CFO Solutions, to explore how fractional CFO services can help healthcare practices thrive. With over 30 years of experience, Lizette shares valuable insights on managing the business side of medicine while keeping focus on patient care. Key Discussion Points: The role of a fractional CFO and how it differs from a full-time CFO Why healthcare practices specifically benefit from fractional CFO services Essential KPIs every practice owner should monitor Smart strategies for cash flow management The importance of understanding your practice's payer mix How to balance clinical excellence with business acumen Key Takeaways: Practices can access high-level financial expertise without the full-time executive cost Regular weekly check-ins with a fractional CFO help maintain strategic focus Understanding cancellation and no-show rates is crucial for revenue optimization Strategic vendor payment timing can significantly improve cash flow Data visualization tools can make financial metrics more accessible and actionable Important Metrics to Track: Cancellation and no-show rates Payer mix (Medicare, Medicaid, private insurance, self-pay) Claims denial rates Days to payment Cash flow and burn rate Lizette’s Bio: Lizette Peña, CPA (she/her) brings over three decades of finance and accounting expertise to her role as a Fractional CFO at Ascent CFO Solutions. Based in Colorado, she partners with mission-driven healthcare organizations to optimize their financial strategies and growth. Driven by her belief in business as a force for good, Lizette serves on the Board of Directors for Kachuwa Impact Fund and advises Intercambio Uniting Communities, combining her financial acumen with her commitment to positive social impact. Find Lizette: Website LinkedIn Instagram Connect With Us: Be a Guest on the Show Thriving Practice Community Schedule Strategy Session with Tracy Tracy’s LinkedIn Business LinkedIn Page Thriving Practice Community Instagram