Hospital and Health System Advisory Services
Improving quality, reducing cost and maximizing outcomes are three fundamental activities organizations must take to stay relevant and ensure sustainability in today’s healthcare market. As organizations are pressured by patients, payors, and the market, they need to have the appropriate processes, tools, and structures to respond. LBMC’s Hospital & Health System Advisory Practice can help equip organizations to manage these challenges.
What Can We Do For You?
Clinical Resource Management
Improving clinical, operational and ﬁnancial eﬃcacy along the care continuum is a challenge many organizations are not equipped to tackle alone but is a required step that must be taken to be successful in the future. Whether the need is enhancing the performance of your case management programs or standardizing care delivery to support cost management and increased quality, our expertise can help:
- Improve care coordination
- Reduce length of stay or avoidable care days
- Improve access and capacity management
LBMC can help enable providers to care for patients in the right level of care, at the right time, in the right location.
Healthcare Finance & Reimbursement
We have subject-matter experts who can help executives accomplish debt covenant studies, managed care contracting negotiation and analysis, chargemaster and rate review, cost report preparation or review, and feasibility studies for Medicare special programs (CAH, MDH, SCP, 340b, etc.), and other objectives.
Integration Planning & Management
Taking into consideration company culture and values, we help develop impactful, measured plans to integrate the operations of disparate organizations into a cohesive “system”, which we have found to be the common diﬀerence between a successful M&A transaction and a failed one.
With most community hospitals surviving on razor-thin margins, Executives must be hyper-responsive to changes in performance. We help develop data-based improvement plans and, with management, organize sequentially prioritized action plans that target energy where it matters most so as to optimize the speed and durability of results.
Particularly where longer-term viability is of concern, organizations need informed, impactful strategies to improve their role and relevance in the marketplace. “How realistic that we can remain stand-alone? Do we need to aﬃliate with another provider? What alternatives do we have?” These are all mission-critical questions that boards and executives need to discern and develop a strong strategic plan to support.
Revenue Cycle Improvement
With most healthcare organizations having razor thin margins, a small disruption to your revenue cycle can be catastrophic. We help organizations: 1) manage accounts receivable, 2) reduce denials, 3) increase point of service collections and other key revenue cycle metrics.
The result is a healthy revenue cycle that supports a strong performing organization and enhances overall patient experience.
People are the most important component of your organization. Ensuring you are right sized to meet the demands of your patient’s while also maintaining efficient processes, will set you apart from your competition. Our experts help your organization determine the right complement of staff, outline processes to utilize them at their top of their skillset, while also balancing cost.
We have extensive experience guiding organizations through particularly challenging financial distress and other crises. We provide data-based insight into mission-critical problems and develop impactful tactical plans to return the organization to a position of stability. Whether to reverse a declining performance trend, avoid insolvency, or emerge from bankruptcy, our respectful approach and informed plans reflect the urgency deserved.