A Comprehensive Financial Strategy to Ensure Continued Clinic Operations
Client
HeartShare St. Vincent's Services
Faculty
Susan Abramowitz
Team
Juan Ospina, Alexandra Paans, Rogers Pali, Arti Trehan
| HeartShare St. Vincent’s Services (HSVS) is a nonprofit organization that empowers over 6,000 youth, individuals, and families to overcome challenges of family crises, addiction, mental illness, and poverty. The Integrated Health Services division of HSVS provides mental health, chemical dependency, and clinical services to children, adolescents, and adults. However, the clinics are losing about $1 million annually and are in danger of closing. HSVS enlisted a Capstone team to assess its profitability problem and propose strategies for becoming financially viable. The team completed a literature review and market assessment, followed by a thorough financial analysis identifying opportunities for maintaining or improving current channels of revenue and potential areas for reducing costs. The team also conducted interviews with patients to identify opportunities for increasing patient satisfaction and market position, and interviews with staff to identify opportunities to increase operational efficiency. The team’s research culminated in recommendations that will alleviate HSVS’s financial instability and enhance its sustainability. |
Focus Areas
Capstone Year
2017-2018