Millenniumcc.org: From 2012 to 2014; what were some highlights as you grew?
Michael Malick: As Gail said, it was establishing policies and procedures; daily routines on just managing the financials of the organization.
When I first started, one of the first things I was working on was satisfying the audit at the end of that year. And from that, working towards establishing the detail and accuracy of the financial statements that we presented to the Board and that we have on file for the government as far as meeting FQHC requirements.
Gail Speedy Mayeaux: I chuckle hearing this, because prior to Mike’s arrival, I had been serving as the CFO as well as the CEO; and we continually had a material weakness in our findings because we didn’t have the level of detail that we needed on the financial reports (and you can imagine as you try to divide yourself in half).
When Mike came on board, in his first year, he had to clean that up. Since Mike has been here, every subsequent year, we have not even had a finding; and the last three years, we have not even had an adjustment to a journal entry. Until Mike arrived, we did not have the systems in place. Mike was able to build those systems and put us on solid ground for the future.
Michael Malick: With the federal monies, we were able to not only reduce our vendor ledger but also increase our cash reserve which was huge.
Gail Speedy Mayeaux: Mike led that process to build our cash reserve and that was so formative for us. Because we never had that. That insight regarding the importance of cash on hand was huge, as well as working with the Board to structure our data to provide the kind of information they really wanted to know
There were a lot of highlights:
We moved into this clinic; so we went from a 7,000 square foot clinic to a 10,000 square clinic.
Then we added an additional 4,000 square feet here which enabled us to add Behavioral Health and Care Management.
We also added the Pharmacy program which was huge for us, and Mike implemented — from a financial perspective — how we account for Pharmacy and that was huge.
Mike also led the effort to bring Billing in house and led the development of policies and procedures. That really locked down the process so that people could hold themselves accountable, and the organization could hold people accountable.