The Value of the Right Financial Partner in Healthcare

The Value of the Right Financial Partner in Healthcare

By Tara Perruzzi, SVP, Commercial Banking Officer, Machias Savings Bank

Healthcare organizations and businesses face ongoing decisions about growth and investment, whether through facility improvements, technology upgrades, equipment purchases, acquisitions, or expansion into new markets. Reimbursement structures, staffing requirements, regulatory considerations, specialized equipment needs, and real estate demands can all influence those decisions. While delivering quality care remains the primary focus, having the right financial partner can help organizations evaluate opportunities, navigate challenges, and support long-term success.

Build Your Support Team Early

The financing process is often smoother when you have a solid team in place before you need it. At a minimum, that team should include an accountant who can advise on tax implications and prepare accurate financial records, a financial advisor who can help you evaluate how a transaction may affect your personal finances, an attorney familiar with healthcare related legal and regulatory considerations, a real estate professional who understands the unique needs of healthcare facilities, and an insurance advisor who can help ensure your coverage evolves alongside your organization.

Having the right team involved early can help identify opportunities, address potential concerns, and keep projects moving forward efficiently.

The Value of the Right Financial Partner

Once that team is in place, the next decision is who you’ll work with to secure financing. Healthcare organizations and businesses benefit from partnering with a bank that takes the time to understand their goals, operations, and the unique considerations of the healthcare industry. Whether financing an acquisition, facility expansion, equipment purchase, or ownership transition, a banking partner that asks the right questions and understands the organization can be valuable throughout the process.

Equally important is working with a banking team that values long-term relationships. As organizations and businesses grow and their needs evolve, having a bank that understands their operations can help streamline communication, provide continuity, and ensure financial solutions remain aligned with both short-term objectives and long-term goals. Financing is only one component of the relationship. A holistic banking approach can help support daily operations, improve efficiency, and position organizations for future growth.

Preparing for Success

The path to a successful financing transaction often begins long before a loan application is submitted. Depending on the type of transaction, your bank will typically require several years of financial statements, interim financial information, and personal financial information from key owners or guarantors. For acquisitions, be prepared to discuss ownership structure, management continuity, and key employees. For construction projects or facility renovations, budgets, plans, and project specifications will likely be required. New healthcare organizations and businesses, or significant expansion projects, may also benefit from a well-developed business plan.

In addition to being prepared, it is important to work with advisors and financial partners who understand your market and organization. Strong communication, accessibility, and established relationships can help keep transactions moving efficiently when questions arise or opportunities present themselves. Healthcare organizations and businesses often encounter opportunities that require timely decisions, whether it is acquiring a neighboring practice, investing in equipment, renovating a facility, or expanding services to meet community needs. Having a financial partner who understands your organization and can respond when those opportunities arise can make a meaningful difference.

At Machias Savings Bank, we are proud to work alongside healthcare organizations and businesses across Maine, helping them navigate opportunities, challenges, and the decisions that support long-term success.