Turnaround Management & CRO Services

Transforming Beleaguered Healthcare Organizations

Every troubled organization is troubled in its own way. But decades of experience operating thriving healthcare organizations as well as turning around struggling ones enable HMP experts to quickly pinpoint root problems, develop disciplined action plans and confidently implement the needed changes to bolster performance.

No one knows the opportunities and challenges of turnaround management better than HMP's executives. They have served as chief restructuring officers and other senior executives for healthcare companies in bankruptcy as well as provided crisis management at complex organizations in the early stages of high-profile criminal and civil fraud investigations by multiple federal agencies.

Unlike consultancies that produce reports with recommendations, HMP executives take the helm of failing organizations and assume direct responsibility for transforming them. Time and again, they have succeeded in revitalizing providers of all kinds, from nursing home chains to a 900-bed hospital.

Turnaround Blueprint

There are no quick fixes in turnaround management, but HMP has developed a highly effective, streamlined approach for achieving lasting improvements as soon as possible.
HMP experts begin by asking questions—of management, of board directors, of employees, of patients and their families. Based on this essential input as well as their own intimate knowledge of industry best practices and regulations and previous experience, they:

Stabilize crises
Identify opportunities and challenges
Develop a strategic plan, including milestones and deadlines
Define expected outcomes
Build consensus with all constituents—management, unions, vendors, patients, local community
Change cultures
Optimize performance

In all of its healthcare provider turnaround assignments, HMP has successfully designed and executed plans that simultaneously added patient volume and revenues, reduced costs and improved profitability and cash flow.

The Power of Collaboration

From the outset, HMP builds on each organization's strengths, working side-by-side with management, directors and other key stakeholders to drive desired results. HMP also focuses on winning the support of the medical and nursing staffs, which is fundamental for delivering quality healthcare services and improving financial results.

Above and beyond anchoring successful turnarounds, this approach has led to additional revenue-generating opportunities including physician joint ventures of a freestanding comprehensive cancer center and a 100-bed heart hospital. In a recent turnaround, HMP worked with a group of five troubled nursing homes.

Turnaround Management & CRO Services

Strategic and Financial Expertise

Litigation Support