Financial Operations Improvement

Recent Service Engagements

The financial strength of many health organizations is a frequent concern of executives and their governing boards. If not addressed in a well coordinated manner, lack of desired performance will create a domino effect threatening the quality of care, physician relationships, patient volume, vendor arrangements, employee morale, and ultimately an organizations existence as a going concern.

The HFA objective in what the healthcare industry has long described as a turnaround engagement is unique. While the goals remains financial and operational improvement, our primary focus is on protecting the organizations values and mission, and how the organization can work smarter, eliminating waste and inefficiency, without the wholesale reduction in resources, but use them more wisely.

HFA professionals have led a multitude of successful financial operations improvement engagements throughout the U.S. assisting healthcare organizations to regain financial and operational stability. Our team of financial, clinical, operational, and systems resources work side by side with the organizations responsible parties keeping them involved at every step, ensuring issues and solutions are understood, and that concurrence and accountability is achieved among all. HFA will coordinate the implementation of sustained change in process, activity, and structure.

• Board Governance Support
• Capital Planning & ROI Analysis
• Financial Conditions Analysis
• Financial Turnaround Strategies & Action Plans
• Industry Benchmark Analysis
• Interim CFO/Management Support
• Organizational Restructuring
• Physician Practice Evaluation/Management
• Process Change Implementation
• Productivity Management Systems
• Regulatory & Legislative Analysis
• Reimbursement Strategies
• Revenue Cycle Management
• Standards Development & Reporting
• Supply Chain Management
• Treasury & Banking Functions

Recent Service Engagements

Successful financial turnaround and improvement engagements:

• 450 bed tertiary hospital - $30 million
• 250 bed tertiary hospital - $20 million
• 1,800 bed teaching hospital system MSO - $13 million
• 200 bed community hospital - $8 million
• 180 bed community hospital - $10 million
• 700 bed teaching hospital - $9 million
• Teaching hospital Home Health group - $6 million
• Primary Care physician group - $10 million

Achieving financial improvement in multiple areas of the operation:

• Commercial, managed care and regulatory rate negotiations
• CDM price structure
• Decision Support System development
• Productivity standards and systems
• Staff education, training and restructuring
• Supply chain/GPO improvement
• Cash acceleration/patient billing improvements
• Program planning, modification and/or elimination
• Monitoring systems and control

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