Fractional CFO for healthcare software companies
Healthcare software contracts blend subscription, per-provider or per-bed pricing, implementation and increasingly outcomes- or claims-linked fees. Health system procurement runs long, and HIPAA, HITRUST and state privacy obligations shape the cost base in ways horizontal SaaS doesn't see.
ARR is built around the unit the buyer contracts on - provider, facility, bed, member - with net retention modelled at that level rather than parent organisation. Implementation backlog and go-live timing drive recognised revenue more than new logo bookings.
Flow provides financial modelling, FP&A and fractional CFO advisory to healthcare software companies across provider clinical and operational systems, payer technology, life sciences and clinical trial software, patient engagement and revenue cycle, and population health. We work as the outsourced startup CFO through growth, fundraising and sale processes.
KPIs to track for "healthcare software" startups
We're very 'KPI-driven' fractional CFOs, and we make sure to monitor the right metrics for your startup.
ARR
Net retention
Providers / beds
Health system logos
Implementation backlog
Go-live timing
Gross margin
CAC payback
Compliance posture
Renewal rate
Financial modelling for "healthcare software" startups
As fractional CFOs, we build KPI-driven financial models that are insightful and easy to maintain.
Financial modelling is both art and science - models must be robust, but also understandable, and useful for both internal planning and VC fundraising purposes. Hire a fractional CFO who knows how to handle both sides of the equation.
Per-provider / per-bed ARR
ARR built around the unit the buyer contracts on - provider, facility, bed, member - rather than a flattened seat or logo metric. Net retention is modelled at that unit level so expansion within a health system is visible.
Implementation backlog & go-live
Implementation pipeline by health-system project with go-live timing driving recognised revenue more than new logo bookings. Health-system procurement runs long and a go-live miss moves the year materially.
Outcomes & claims-linked revenue
Subscription separated from outcomes- or claims-linked components, with the risk-bearing portion carrying its own gross margin and reserve treatment. Acquirers value contingent revenue at a fraction of recurring SaaS - surfacing the split is non-optional.
HIPAA, HITRUST & state privacy cost base
Compliance, audit and privacy obligations sized explicitly in the cost base rather than blended into G&A. These obligations shape gross margin in ways horizontal SaaS doesn't see and need their own line in operating cost.
Long-cycle CAC by buyer type
Fully-loaded CAC and payback measured by health-system, payer, life-sciences and ambulatory segments, with cycle length and conversion rate calibrated to each. The blended figure invariably hides a profitable segment and a money-losing one.
Cap table & SAFE stack
Pre/post-money cap table with SAFE conversions, option pool top-ups and waterfall scenarios under typical healthcare-strategic investment terms. Strategic stakes from health systems and payers often carry commercial obligations that affect future rounds.
Founders and investors we've worked with
We've supported winning builders across healthcare software and beyond.
Marcura
We acted as fractional CFO to Dubai-based Marcura, owner of maritime payroll and B2B payments platform MarTrust, advising on the strategic e-Wallet vendor selection and supporting product/finance integration.
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Hector
We acted as fractional CFO to Hector Aurumi, a Dubai-based specialist software house with AI/ML, IoT and data science expertise, providing confidential valuation guidance to the management team.
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Testim
As a fractional CFO we performed a confidential valuation of Testim, a Tel Aviv-based AI-based software testing automation platform, supporting Elevator Fund's portfolio management.
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Panorays
As a fractional CFO we performed a confidential valuation of Panorays, a Tel Aviv-based software platform for third-party security management, supporting Elevator Fund's portfolio management.
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Percepto
As a fractional CFO we performed a confidential valuation of Percepto, a Tel Aviv-based autonomous drone monitoring platform for critical infrastructure and industrial sites, supporting Elevator Fund's portfolio management.
See moreRecent fractional CFO track record
See our fractional CFO and financial modelling experience across healthcare software and beyond.
Simple pricing
No hidden costs, no complicated long-term contracts. We understand how important flexibility is for healthcare software startups.
Per month
- Accounting / FP&A tech stack implementation
- Monthly financial statements and reporting pack
- Quarterly board pack with detailed financial analysis (with variance analysis vs. budget, relevant KPI observations etc.)
- Investor-friendly output
Per month
- Everything in Core, plus
- Operating model (via an online platform like Runway or Excel-based)
- Ongoing model maintenance, refining projections, burn/runway management
- Customer cohorts modelling, churn and retention analysis
- LTV / CAC, unit economics analysis
- Cap table management
Per month
- Everything in Grow, plus
- M&A / fundraising support; review of business plan
- Pitch deck preparation
- Investor approach strategy / list building
- Due diligence support and deal negotiation
- Valuation as required and free access to Multiples Pro
Packages shown are illustrative, final pricing is tailored to client requirements.
Explore our fractional CFO offering for similar verticals
We're a specialized fractional CFO to software companies.
Our fractional CFO experience spans across all software verticals.
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We know tech inside & out.
We provide fractional CFO services to companies operating across the entire tech.
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We help you scale by providing fractional CFO advice, through fundraising and a successful M&A exit.
VC fundraising for healthcare software companies
We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
Learn moreM&A for healthcare software companies
We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
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