Katie Fergus had worked for the financial side of the health care field since 2004, but as a CPA she realized she loved the feel of smaller practices and made career changes. In 2016, she wrote a business plan for a consulting firm and began the life-changing journey of entrepreneurship. Her financial consulting firm FinanSynergy stands out from other firms because it specializes in the health care industry—if a medical practice needs assistance maximizing their bottom line, predicting revenues, or achieving growth FinanSynergy helps show the way.
Katie was initially put in touch with America’s SBDC through the West Des Moines Incubator; where the organizer gave her former SBDC Regional Director Christina Moffat’s card. The SBDC helped Katie narrow her market niche, directed her to bankers to assist with financing, and suggested networking events to attend. Katie described her experience working with the SBDC as “top notch—definitely five stars. They gave me the confidence to grow as a business owner and provided a support system I can contact if I need help.”
During the two years Katie has been an entrepreneur, she has continued developing FinanSynergy by adding a full-time Data Analyst and a part-time Bookkeeper. In July 2017 Katie purchased Medical Billing Services and re-branded it as PractiSynergy. Acquiring or developing a medical billing company was in Katie’s five-year business plan, but the opportunity presented itself and she jumped at it. Between the two businesses Katie has sixteen full-time employees, three part-time employees, and has a job opening for one full-time position. Combined, the businesses gross more than $1.4 million in revenue.
In the coming months Katie plans to expand a new line of service to benefit rural health clinics’ and hospitals’ billing services. “The SBDC has given me the confidence, resources, and business acumen to fulfill a venture I never dreamed I’d have. It’s a wild and fun ride, full of ups and downs and I wouldn’t trade it for the world. Brian Tapp and Christina Moffat have been phenomenal and instrumental in my success.”
To learn more about FinanSynergy visit FinanSynergy.com, and to learn more about PractiSynergy visit PractiSynergy.com.