Healthcare M&A Operational Solutions
Hielix has a full suite of professional services specifically designed to address and resolve all of these operational challenges. Our solutions have been used by a variety of healthcare clients over the past five years. Our team can easily compliant the financial and legal experts tasked with doing the due diligence process. Hielix can identify operational areas most likely to negatively impact both profitability and ROI as well as patient care. Once identified, Hielix will create a roadmap to remediate all of these issues in the shortest possible time in order to maximize the ROI for all stakeholders. Listed below is a brief description of our professional services.
Allowing hospitals/systems to seamlessly integrate disparate EHR systems requires interoperability. Given that over 1,700 certified EHR's are in use today, it is highly probable that during any merger/acquisition multiple EHR's will be in use. Interoperability challenges need to be identified and a roadmap developed to reduce the lost productivity that results from a poor integration.
Hielix will use its proven assessment process to pinpoint areas where integration is most critical. Leveraging the data from the assessment, Hielix will prepare a roadmap for addressing the identified
challenge areas and work with the hospitals/systems to implement the roadmap. Achieving integration as quickly as possible will result in higher levels of productivity, lower operating costs and better patient care.
Meaningful Use Gap Assessment
Achieving Stage 2 Meaningful Use is important for all stakeholders in the merger/acquisition process. It allows HITECH incentive funds to be dispersed on time and helps avoid Medicare
penalties in future year's potentially preserving important revenue streams. Understanding where each potential acquisition partner is in the process of meeting Meaningful Use requirements is
critical information to understand in the pending merger/acquisition.
Hielix will use its proven assessment process to determine the status of each entity in the merger/acquisition process regarding Meaningful Use compliance. Hielix will identify any gaps in Meaningful Use compliance and develop a remediation plan for each entity identified as not meeting requirements. Hielix will work
with each entity to assist them with the remediation plan and reach Meaningful Use compliance. Achieving Meaningful Use compliance will result in eligibility for incentive payments and remove the
risk of future Medicare penalties.
Community Acceptance Assessment
Any merger/acquisition of a local hospital by a larger system will cause concern in the local community. The local hospital's quality of care rankings for everything from cardiac
care to outpatient surgery to pediatrics are of concern to the local community. Any perceived negative impact that can be attributed to the merger/acquisition will result in problems with
the local patient base. Understanding and proactively addressing the local community's concerns will be key to a smoother merger/acquisition.
As the merger/acquisition is considered, our Community Acceptance Assessment will identify potential issues and prepare a plan to manage them before they get out of hand
and result in damaging public and media attention. Our assessment will examine and address all of the following potential problem areas including:
- Scenario brainstorming and planning
- Issue identification and remediation planning
- Proactive media and public messaging·
- Chain of response plan
- Merger/Acquisition team media training
Hielix will use its proven assessment process to help mitigate potential public relation problems, hospital valuation and reputation issues that will result during the merger/acquisition.
Hielix will prepare a roadmap for addressing the identified challenge areas and work with the hospital to implement the roadmap. Proactively preventing community issues for causing problems, the Hielix process will result in greater community acceptance, lower merger/acquisition costs and quicker patient acceptance of the new entity.
Corporate Culture Compatibility Assessment
Each hospital organization has its own operating culture, norms for behavior and ways of doing business. A merger/acquisition will disrupt all of these factors for both the merging and the merged organization. In many cases, the first staff members to leave after a merger/acquisition are the physicians. Understanding where the risks of incompatibility are between corporate cultures is critical information each entity needs in order to reduce staff and productivity losses and create a new, positive corporate culture.
Hielix will use its proven Corporate Compatibility Assessment process, including our organizational sensitivity analysis to pinpoint areas where cultural integration is most important.
Leveraging the data from the assessment, Hielix will prepare a roadmap for addressing the areas with the highest risk factors and work with both entities to reduce the culture disruptions caused by the merger. Obtaining cultural integration as quickly as possible will result in lower levels of staff turnover, higher staff morale and a faster acceptance of the new corporate culture.
ICD-10 Readiness Assessment
Converting to the new ICD-10 requirements has caused significant issues for many hospitals. In fact, the issues are so severe Congress has provided a one-year extension of the deadline. Converting to ICD-10 can be costly and difficult to achieve. Failure to be compliant by the deadline will cause a disruption in the revenue stream for the hospital. Even if the hospital has successfully converted to ICD-10, understanding their plans for testing the system with payers, providing dual coding capabilities and having additional cash on hand to cover the potential loss of revenue when ICD-10 goes live, can be critical to financial health.
Hielix will use its proven ICD-10 assessment process to quickly determine each entity's level of ICD-10 adoption. Leveraging the data from the assessment, Hielix will prepare a roadmap for addressing the identified challenge areas and work with the hospitals to implement the roadmap. Achieving ICD-10 compliance as quickly as possible will result in higher levels of productivity, lower operating costs and improved cash flow.