- Case Study
Financial Transformation for a Health-share Provider
How Jazaa Helped Structure, Restate, and Prepare for Growth
About the Client
Our client is a healthcare benefits platform offering transparent and affordable plans, including major medical insurance and health share memberships. Their mission is to simplify healthcare through clear pricing, flexible options, and tech-enabled support.
As the company enters a critical growth phase and preparing for their fundraise, they require accurate financials and robust controls to ensure audit readiness, regulatory compliance, and investor confidence
The Challenges
Despite strong market traction, the client faced several critical financial challenges:
Incorrect Claim Funds
Revenue and expense allocations were incorrectly applied, resulting in distorted financials and significant losses across key entities.
Intercompany Transactions
Numerous minor intercompany entries required adjustment for consistency.
Audit Preparedness
The company was preparing for its first audit and needed reconciled accounts and strengthened controls.
Weak Financial Reporting
Processes like daily KPIs, claims reconciliation, and structured account reviews were still in development.
Fundraising Readiness
Reliable historical financials and forward-looking forecasts were being strengthened to support upcoming fundraising.
Jazaa’s Contribution
Jazaa is guiding the client through an ongoing financial transformation:
1. Financial Restatement & Cleanup
- Restating latest financials with corrected revenue allocations.
- Reclassifying and adjusting revenues to reflect actual performance
- Working on claims reconciliation, bank reconciliation, and intercompany reconciliations.
2. Audit Readiness
- Preparing the company for its first audit.
- Working on documentation, internal control review, and consolidation support.
3. Ongoing Financial Reporting & Controls
- Implementing daily KPI tracking and cash reporting.
- Developing claim reconciliation reporting
- Preparing monthly, quarterly, and yearly consolidated financial statements across intercompany entries.
4. Strategic Financial Support
- Developing reliable forecasting tools and scenario analysis.
- Preparing groundwork for future fundraising and investor readiness.
5. Industry-Specific KPIs
- Leveraged healthcare and insurance-specific KPIs to improve transparency
- Decision-making like: MRR, ARR, Medical Loss Ratio (MLR) and Claims Cost PMPM
Results
- Working on correcting misallocated revenue and restoring financial health of claims entities
- Updating books to be audit-ready with strengthened internal controls
- Implementing transparent KPI dashboards for daily, monthly, and quarterly reporting
- Developing reliable forecasts and strategic frameworks to support fundraising
- Enhancing compliance and investor confidence through consolidation and audit support
Future Outlook
Jazaa continues to support the client by:
- Conducting budget vs. actuals analysis
- Enhancing forecasting and financial planning
- Supporting fundraising with robust documentation and investor-ready metrics by data room creation
- Implementing AR/AP management processes
- Designing internal controls and financial policies to avoid allocation errors.
- Identify areas for cost cutting and efficiency improvements.
Takeaway
Healthcare benefits platforms often face complex challenges in claims allocation, compliance, and financial reporting. With the right financial partner, these challenges can be addressed while creating a clear path for growth.
Through restatement, reconciliations, KPI implementation, and strategic financial guidance, Jazaa helped the client streamline operations, strengthen controls, and prepare for fundraising-laying the foundation for scalable, sustainable growth.
👉 If your health tech or insurance startup is struggling with reconciliations, claims allocation, or fundraising readiness, Jazaa can help you build a transparent and scalable financial system.
