LBMC Launches Two New Companies

Brentwood, Tenn.-based LBMC (FY15 net revenue of $77.7 million) has launched two new companies, bringing the number of LBMC-named companies to eight, the Nashville Business Journal reported.

The first of the new companies, LBMC Business Process Solutions, allows companies to outsource their financial work. David Lewis, who heads the company, said its “virtual CFO” services are targeting startup and early stage companies.

“Rather than having to build out an entire department for financial operations, what we allow companies to do is access a cost effective solution for that work,” Lewis told the newspaper. “The biggest benefit we see is it frees up time for them to grow their businesses.”

Alongside this company, LBMC has also launched LBMC Physician Business Solutions, which is designed to provide physicians with a variety of service, from human resources to accounting, to consulting.

“We looked at the marketplace to see where the challenges and gaps were for companies,” said Leisa Gill, marketing director for LBMC. “The problems with a lot of medical practices, these doctors want to practice medicine, but [they] also have to be business owners. It’s so much more demanding running a practice than it has been before.”