John Bitsas

Chief Financial Officer @Riccobene Associates Family Dentistry

Raleigh, NC, US

The first order of business to secure a PE sale at this multi-site dental organization was to optimize its financial performance, focusing on capital structure optimization and revenue cycle management transformation. Once the sale was completed, I continue to govern the financial operations for this 70-location organization and its 1,200 employees, scaling the organization through M&A and de novo expansion. I lead a team of 75 professionals in finance, accounting, FP & A, credentialing, payor contracting and corporate development.Financial Performance: Transformed the revenue cycle, delivering a $5.5M A/R reduction, 10-day drop in DSO and increasing PE sale valuation. Achieved double-digit YOY growth through M&A and de novo expansion, helping Riccobene achieve placement as a Triangle Business Journal Fast 50 company in 2024. Negotiated $8.0M in price increases from insurance payors, supporting increased pay and retention for clinicians. Guide a highly-efficient, hit-the-ground-running integration process with payroll starting day 1 and integrations completed within 3 months. Located synergies in integrations, such as enhanced fee schedules and payor rates, in one case delivering $700k incremental revenue. FP & A and Budgeting: Overhauled budget process, reducing variances by $1M by redesigning analyses and ensuring collaboration between FP & A and accounting. Automated forecasting with real-time labor costs to improve budget-to-actual. Located $250k in ongoing efficiency process to reduce excess spending. Operational Efficiency: Saved $250k by implementing AI insurance verification while maintaining superb customer experience. Implemented risk management policies around vendor payments and ACH transactions.

Appalachian State University

BSBA

University of North Carolina at Chapel Hill - Kenan-Flagler Business School

Master of Business Administration (M.B.A.)

Appalachian State University

Master of Accountancy