Senior Associate, Transaction Advisory Services, Healthcare

Intrinsic•Chicago, CO

5d•Remote

About The Position

Healthcare M&A deals require specialized analytical skills beyond a standard diligence playbook. This role focuses on understanding the nuances of revenue cycle performance, payor mix sensitivity, provider compensation structures, and reimbursement risk by analyzing data to derive meaningful insights. As a Senior Associate on Intrinsic's healthcare TAS team, you will execute the core financial due diligence for buy-side and sell-side transactions, including proof of cash, Quality of Earnings (QoE) analysis, net working capital, revenue, and profitability trending. You will collaborate directly with VPs and Directors on private equity-backed healthcare deals, gaining significant sector depth and technical expertise in a dynamic M&A market.

Requirements

At least 2 years of experience in audit, financial due diligence, transaction advisory, or closely related financial analysis
Bachelor's degree in Accounting, Finance, or Business
Strong Excel skills with the ability to handle large, complex datasets accurately and efficiently
Ability to synthesize financial data into clear findings — not summaries, but conclusions with a point of view
You drive your own career — you don't wait for someone to hand you opportunities, you earn them
You own your work product; accuracy is your responsibility before it reaches anyone else
You track what's open, anticipate what's next, and communicate clearly when something shifts
You hold yourself to a high standard under pressure — multiple live workstreams and hard deadlines bring out your best, not your excuses
You receive feedback, implement it, and move forward; you see it as part of performing at a high level
Competitive in the right way — you measure yourself against a high bar, not the person next to you
Direct and clear: in how you communicate, how you think through problems, and how you deliver findings
Intellectually curious — you go past the surface of the data because you want to understand, not just report
Someone who takes the long view on their career: you're here to build something real, not collect a paycheck

Nice To Haves

CPA licensed or actively pursuing preferred
Experience with or a genuine interest in healthcare services, provider businesses, or healthcare transactions is a meaningful plus

Responsibilities

Execute core financial due diligence analyses: proof of cash, revenue and profitability trending, balance sheet reviews, vendor and payroll analysis, and QoE/NWC adjustments
Build and maintain databooks from large, complex datasets, ensuring organization, formatting, and accuracy to support defensible conclusions
Draft report sections and revise based on VP and Director feedback, ensuring clarity and precision
Manage the data room: track incoming documentation, flag gaps, and keep outstanding requests current
Prepare analytical exhibits and financial questions for management meetings
Own self-review for accuracy before work product is shared
Analyze revenue cycle dynamics: collections trends, denial rates, days in A/R, coding and billing patterns
Assess payor mix and reimbursement rate sensitivity across commercial, Medicare, and Medicaid
Analyze provider productivity and compensation models (wRVU-based, collections-based, hybrid structures)
Perform healthcare-specific QoE adjustments: pro forma provider adds, contract rate changes, one-time reimbursement impacts
Evaluate MSO structures, de novo vs. acquisition growth, and ancillary service performance
Support internal initiatives between engagements: peer coaching, recruiting, process improvement, and practice development
Track activity and manage workflow through Salesforce and firm tools