Precision Medical is a family of companies that distributes medical products and durable equipment to assist in the rehabilitation of preventative surgeries as well as the prevention of post-surgery events, like deep vein thrombosis (DVT).
Although Precision Medical remained open throughout COVID-19, the company faced a decrease in revenue due to preventative surgeries (like total hip replacements and knee surgeries) being postponed. Therefore, CFO/COO Bruce Capagli and the rest of the leadership team devised a plan for taking more control over cash flow, extending the company’s runway and planning and forecasting around an unknown future.
Capagli joined this episode of “The NetSuite Podcast” and provided insight into Precision Medical’s plans, including the metrics he’s using to measure success and the tools that will continue to help employees work virtually. He dives into the type of scenario planning the company is doing right now, how often he’s reforecasting around those scenarios and the expectations for an uptick in demand throughout the summer as more medical centers continue to open. Capagli explains how Precision Medical is planning to reorient resources around that surge and update procedures and processes for keeping employees safe and healthy as they return to work.
Still, despite current plans in place, Capagli’s biggest piece of advice for himself and for others: Remain prepared for the unimaginable.
Listen to the full episode on Apple Podcasts, Spotify or YouTube.