Vital.io Gains Strategic Insights and Efficiency with Graphite’s Fractional Finance Solution
Industry
HealthTech
Founded
2019
Services
FP&A, Bookkeeping, Tax, Fractional CFO
“The Graphite team really feels like a part of our own team. They provide strategic insights, unmatched responsiveness, and the level of service we’d expect from an in-house finance team, all while remaining cost-effective”
Kelsey Powell
Senior Director of Operations – Vital.io
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Vital.io Background
Founded in 2019, Vital.io is a patient experience platform that empowers patients to navigate their hospital visit journey—from ER admission to scheduling follow-ups. By offering tools like educational videos, lab test results, and real-time ER wait times, Vital.io enhances transparency, understanding, and engagement throughout the patient experience.
Challenges
As Vital.io experienced rapid growth, managing finances internally across its executive team became a challenge. While dividing responsibilities like accounts receivable, accounts payable, budgeting, and tax management worked in the early stages, this model became increasingly unsustainable. The company needed expert financial guidance without hiring full-time staff for each role.
Solution
Graphite stepped in with a tailored outsourced finance solution that addressed Vital.io’s pain points. By integrating deeply into the team’s daily operations, Graphite brought financial expertise, operational efficiency, and strategic insight. They established a consistent monthly close process, handled AR and AP management, and streamlined tax compliance. Vital.io also gained access to a fractional CFO who attended board meetings and provided strategic financial planning, offering valuable market insights specific to the HealthTech industry.
One of the standout aspects of the partnership was Graphite’s subscription model, which provided a predictable monthly cost for their services. This approach not only helped Vital.io with financial planning and budgeting but also differentiated Graphite from traditional consultancies with variable billing models.
Results
The results were transformative. With Graphite managing day-to-day financial operations, Vital.io’s leadership was free to focus on growth and strategy. The team appreciated Graphite’s quick response times, integrated workflows via Slack, and the depth of expertise that felt equivalent to having an in-house finance team.
Kelsey Powell, Senior Director of Operations at Vital.io, described the experience as unmatched. She praised Graphite’s ability to offer strategic advice based on their extensive experience with other clients, helping Vital.io remain competitive and successfully navigate the challenges of being a HealthTech startup.
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