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Behavioral Health Innovator
HMP Finds Growth Opportunities for Rising Star in Behavioral Health Managed Care
In the notoriously difficult field of behavioral health managed care, one organization grew into a major player in the Northeast by developing and executing an innovative care management model for behavioral health and developmental disabilities in partnership with government and commercial payers. Community Behavioral HealthCare Network of Pennsylvania Inc. (CBHNP) refined its operating model over 14 years to efficiently manage care delivery while keeping administrative costs to a minimum, eventually extending its services to more than 3 million covered lives.
Eager to reach more patients by expanding nationally, CBHNP brought in Healthcare Management Partners (HMP) as its financial and strategic advisor to examine its market position and develop a plan for taking it to the next level of sustainable success.
Through the lens of extensive experience as senior healthcare executives, HMP's experts evaluated the CBHNP's financial and operating structures. Using the firm's proprietary data-mining and analytical techniques, HMP also identified and analyzed critical trends in behavioral health; especially behavioral health managed care and the applicable Medicaid and Medicare rules and regulations.
Based on its assessment, HMP recommended CBHNP convert from a not-for-profit provider owned cooperative corporation to a for-profit stock corporation, which would open up important new sources of capital for growth. With the help of HMP's rigorous process for assessing its prospects and options, CBHNP also decided the best course was to seek a strategic or financial partner with the capital and appropriate licenses and insurance agreements for expansion across state lines as well as a proven record for working with public payers and ensuring the delivery of great patient care.
"As former corporate board members or CEOs who have wrestled with similar challenges, HMP's experts truly understood who we are and where we wanted to go," says Richard S. Edley, CBHNP's president and chief executive officer. "And HMP didn't simply give us a list of recommendations. It helped us navigate every step of the way, ensuring that our successful patient-centric business model would continue to flourish."
Once HMP had helped to set the strategic direction, the firm played a pivotal role in executing the plan. It identified potential merger partners and then led the negotiations. As a result, CBHNP is now part of a well-respected, national multi-billion-dollar Medicaid managed-care company and is poised to achieve its strategic goals while maintain its commitments to the communities which it currently serves.
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