Senior Associate, Transaction Advisory Services, Healthcare

Role Description

Healthcare M&A deals don't run on a standard diligence playbook. Revenue cycle performance, payor mix sensitivity, provider compensation structures, and reimbursement risk require someone who can read what the data is actually saying — not just organize it.

As a Senior Associate on Intrinsic's healthcare TAS team, you'll execute the analytical core of buy-side and sell-side financial due diligence:

• Proof of cash
• QoE analysis
• Net working capital
• Revenue and profitability trending

You'll work directly alongside VPs and Directors on PE-backed healthcare deals, building real sector depth and technical command in one of the most dynamic corners of the M&A market.

Qualifications

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

Requirements

• 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 — organized, formatted, and accurate enough to support defensible conclusions
• Draft report sections and revise based on VP and Director feedback; your work product needs to be clear and precise before it moves up
• Manage the data room — track incoming documentation, flag gaps, and keep outstanding requests current
• Prepare analytical exhibits and financial questions ahead of management meetings
• Own your self-review; accuracy is your responsibility before anyone else sees it
• Healthcare-specific analysis:
  • Revenue cycle dynamics: collections trends, denial rates, days in A/R, coding and billing patterns
  • Payor mix and reimbursement rate sensitivity across commercial, Medicare, and Medicaid
  • Provider productivity and compensation model analysis (wRVU-based, collections-based, hybrid structures)
  • Healthcare-specific QoE adjustments: pro forma provider adds, contract rate changes, one-time reimbursement impacts
  • 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

Benefits

• This position has an expected base salary range of $101,000 to $127,000 annually.
• Employees are also eligible for an annual discretionary bonus targeted at 15% of base salary, bringing target total cash compensation to approximately $116,150 to $146,050.
• Benefits include:
  • Medical, dental, and vision insurance
  • A 401(k) plan with employer contribution
  • Paid time off, including vacation, sick leave, and company holidays
  • Paid parental leave
  • Hybrid and remote work flexibility
  • Professional development support and continuing education reimbursement
  • Participation in the firm's employee ownership model
• This position is eligible for remote work.