Turnaround Management

HMP’s executives have served as chief restructuring officers of healthcare companies through bankruptcies, crisis situations and in the early stages of high-profile criminal and civil fraud investigations. In each of these situations, our leadership helped these organizations bolster performance through discipline and carefully planned action.

Some consultants assess your problems and provide a recommended course of action. But HMP executives take the helm of failing organizations and assume direct responsibility for transforming them. Time and again, we have succeeded in revitalizing providers of all kinds, from a rural nursing home chain to a 1,000-bed teaching hospital or a 179-bed county-owned community hospital.

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. We begin by developing a strong knowledge base of your organization. Individuals from every level of the organization are interviewed, including management, medical and nursing staff members, board of directors, employees, patients and their families. Their input, combined with a depth of healthcare industry knowledge, allows HMP to:

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


In all of our 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.

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 and active participation of the medical and nursing staffs, which is fundamental for delivering quality healthcare services and improving financial results.

Beyond anchoring successful turnarounds, this approach leads to the identification and implementation of additional revenue-generating opportunities.

During a hard restructuring either within or outside bankruptcy, HMP works alongside management to develop and quickly implement a plan that makes sense given the organization’s resource constraints and market positioning. We are on the ground leading specific aspects of the turnaround process and helping to manage complex constituency relations and communications. As part of this process, our executives will:

  • Address immediate working capital needs
  • Stabilize core operations
  • Review financial projections and develop actionable business plans
  • As required, design and implement any necessary operational restructuring
  • Implement ongoing communications processes with key constituencies
  • Develop and immediately implement cost reduction initiatives
  • Design and implement cash conservation guidelines and controls
  • Develop employee incentive plans
  • Identify and dispose of non-core assets
  • Develop pre-bankruptcy plans
  • Assist with bankruptcy case administration, serving as bankruptcy trustees and examiners
  • Manage creditor communication and negotiation processes