We have worked with numerous clients across a variety of projects, some of which are more comprehensively outlined in the below case studies — illustrating our diverse abilities and depth of creative solutions.
Retained by the Board of Directors after the company lost three management teams in 18 months with mandate to stabilize company and determine if the company should be retained or divested.
Restricted management team.
Restructured the financial systems resulting in actionable data that enabled management to assess and control company profitability and growth.
Restructured the service delivery and operations of the company resulting in an overall improvement in efficiency of 800%.
Implemented the company’s first quality control department resulting in URAC accreditation and a measurable increase in quality of 400%
Improved company financial performance from an annual loss of $12.5 MM to an annual profit of $1.5MM in 18 months.
National Electronic Medical Records / Electronic Health Records Company:
Retained by Board of Directors to restructure company and position the company for sale.
Restructured product delivery and product offerings.
Implemented a $6MM software development project utilizing a combined domestic and international software development teams.
Removed company from licensed operating software agreements and implemented new software operating systems that were owned directly by the company.
Termed then existing data storage agreements with IBM and brought data storage in house resulting in improved response times to customer access outages and customer satisfaction.
Implemented new quality control procedures and personnel improvements adding to customer satisfaction and retention.
Moved the company from an initial valuation of $6.5MM to purchase offers of $54MM and $70MM in 24 months.
Rural Hospital Project:
Retained by local government to acquire local hospital after the previous owner was convicted of Medicare Fraud.
Performed due diligence on the facility and determined that the facility had, at a minimum the following liabilities:
$1.46 MM owed to CMS for 2010 cost report (2011 and 2012 costs reports had not been prepared for CMS).
$1.00 MM in an unsecured signature note liability
$800 K accounts payable to vendors
$800 K litigation liability
Total: $4.06 MM total liability that would transfer with the acquisition of the existing hospital before any repairs or updates were done on a facility that had been ignored by the previous owner.
Provided legal and business advice regarding the acquisition of the hospital via an asset purchase agreement that provided for purchasing the “bricks and mortar” of the hospital while not purchasing the business, CMS provider number, payor agreements, etc. This was done to remove the liability that would accompany buying the facility outright.
Acquired a new CMS / Medicare number for the facility within 8 weeks of purchasing the facility.
This required oversight of a new Joint Commission sight visit and approval of the facility as operational.
Transfer of the existing hospital license for the facility
Multiple meetings with CMS personnel in Baltimore
Meetings with United States Senator Bob Corker and staff to obtain their assistance with CMS
Meeting with Marilyn Tavvener (then the CMS Administrator)
Negotiating new payor agreements with Medicare, Medicaid, and numerous commercial health insurance payors.
Retained by the Board of Directors of the new hospital entity to oversee the restructuring and revitalization of the hospital
Recruited new CEO and CFO for the newly formed hospital entity
Consulted with the management team and the Board to revise the business plan, staff patterns and costs structures of of the hospital
Facilitated achieving “meaningful use” phase 1 funding of $1.2 MM on a costs of $200K for the facility.
Negotiated additional state funds of $400 K in supplemental payments/grants to the new facility
Facilitated additional Medicare meaningful use phase 2 payments of $700K.
Implemented a change in the GPO agreement that resulted in annual savings of $120 K annually for HCCH.
Negotiated new joint venture agreement whereby a larger regional hospital assumed overall management of the facility.