How Vital.io Managed Rapid Growth in Financial Operations with Graphite

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.

The Challenge: Fragmented Finance

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.

The Solution: Dependable Expertise

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.