The company is a leading nationwide provider of respiratory and home medical products with nearly 40 years of experience spanning 300+ locations. They specialize in ventilators, home oxygen therapy, sleep apnea therapy, wound care solutions and home medical equipment. In 2020, they received development capital from a diversified group of lenders.
The company was struggling to properly manage and prioritize business projects resulting in millions of dollars in lost revenue and a lower-than-expected EBITDA (earnings before interest, taxes and amortization). Additionally, the company was growing at a torrent pace through acquisitions and their diversification of medical equipment product lines (i.e., moving towards wound care and diabetes-oriented offerings) and their technology was struggling to keep up.
The company needed to make massive technology investments as well as gain a better understanding of its portfolio and business priorities to successfully meet its growth goals.
The company engaged Baker Tilly to assess the process and technology components of their project management office (PMO) to provide strategic recommendations to improve the management and prioritization of their projects and technology initiatives, to ensure they were getting the maximum value from their PMO structure. The technical and current state assessment included a review of existing project documentation and interviews with staff to understand the current priorities, processes and tools used to manage projects. Upon the completion of the assessment, the company realized they were unable to answer the following questions:
Identifying these problem areas allowed Baker Tilly to design and implement a projects management (PM) tool and project execution methodology. The team then conducted training and go-live activities to ensure everyone learned how to use the new PM tool appropriately. During this process, Baker Tilly also provided interim chief information officer (CIO) services.
As a result, the company achieved:
