NLR Accountants Carve Niche in Nursing Home Litigation

by Jamie Walden  on Monday, Jun. 8, 2009 12:00 am  

A small business of a dozen employees in North Little Rock has carved a niche in nursing home litigation by providing financial analyses for plaintiffs' attorneys.

"So we saw the need to develop a database so we could query the data in a way that would orient the data in more of a financial statement format," Engstrom said.

Now, if a client needs a financial analysis of a nursing home anywhere in the country, CFO Network can produce a detailed report in about an hour. A financial analysis of that report, however, takes about two days, Engstrom said.

CFO Network charges law firms a set fee that ranges from $1,450 to $1,900 plus an hourly fee that ranges from $125 to $300 per hour.

Though CFO Network hasn't explored taking the information to nursing homes, Engstrom said he foresees offering the information to them so that they can gauge how they fare compared with other nursing homes.

"We haven't really tapped this market, but we believe that this analysis capability would be useful for people on the operating side of the nursing homes to help them benchmark themselves against their peers, to help them run their businesses better and more efficiently."

 

 

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