Revitalizing Healthcare Futures

We're not just your typical consultants - think of us as seasoned healthcare experts with a knack for turning things around. We've rescued countless struggling organizations from financial woes, swiftly identifying the big problems and steering everyone towards solutions that work. Communication? That's our forte. We believe in transparency and fairness, earning respect from all sides. And our mission? To ensure top-notch healthcare services in every organization we manage.

At HMP, our senior management squad thrives in the heat of crisis and turnaround scenarios. With a treasure trove of experience and a knack for making tough calls, we bring a one-of-a-kind perspective to the table. We've got all the tools in our arsenal to tackle any storm a healthcare provider organization encounters - something you won't often find in your average leadership team.

At HMP, we're your go-to for Restructuring Management, Hospital Contract Management, and Interim or Crisis Management services. Our team boasts decades of collective healthcare wisdom, with top roles like CEO, COO, and CFO under our belts across various health sectors. Need proof? Here are just a few examples of the types of healthcare organizations we've led as Chief Executive Officer (CEO):

• Multihospital systems with religious affiliations or sponsorship.
• Independent not-for-profit hospitals and community hospitals owned by the government.
• University hospitals and leading teaching hospitals.
• Operations ranging from single-site to multi-hospital regions, partnering with investor-owned hospital management companies.
• We specialize in a range of facilities, from brand-new general acute care hospitals to specialized centers like free-standing heart and cancer hospitals. We also handle continuing care retirement communities and various related facilities. Our expertise extends from the initial planning stages, through construction, and into seamless operation, even for brand-new ventures.
• Hospitals facing bankruptcy or up for sale.
• Skilled nursing facilities in financial distress.
• We're experienced in home health, hospice, and managing physician practices.

In our executive management roles, we typically cover at least two key positions: Chief Executive Officer/Chief Restructuring Officer and Chief Financial Officer. While we can assemble a full leadership team upon request, we often find that the most effective turnarounds occur when we leverage the existing talent within the organization, guiding them through the transformation process.

Restructuring Management

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HMP's top executives have donned the hat of Chief Restructuring Officers (CRO) for healthcare firms amid bankruptcies, crises, and even amidst intense criminal and civil fraud probes. Through strategic discipline and meticulous planning, our leadership aids these organizations in revitalizing their performance during these challenging times.

While some consultants merely diagnose issues and offer suggestions, HMP executives excel in more than just analysis – we're hands-on leaders ready to steer failing organizations towards success. Our track record speaks for itself: we've breathed new life into various providers, from rural nursing home chains to sprawling 1,000-bed teaching hospitals and smaller county-owned community hospitals alike.

Turnaround management isn't about quick fixes, but at HMP, we've honed a powerful, efficient method to drive long-term improvements swiftly. Here's how we do it: we start by diving deep into understanding your organization. We interview personnel across all levels, perform advanced data analysis and benchmarking with our cutting-edge tool, HMP Metrics™, scrutinize financial and quality data, and leverage our extensive healthcare expertise to:

• Address the immediate crisis and stabilize the situation.
• Pinpoint both immediate opportunities and challenges.
• Craft a comprehensive turnaround/restructuring blueprint, complete with clear milestones and deadlines.
• Clarify the anticipated outcomes.
• Foster agreement among all stakeholders, from medical and nursing staff to management, unions, vendors, patients, and the local community.
• Transform organizational cultures.
• Maximize performance.

In every turnaround project, HMP has consistently devised and implemented strategies that not only increased patient volume and revenue but also slashed costs while enhancing profitability and cash flow.

Right from the start, HMP capitalizes on the strengths of each organization, collaborating closely with management, directors, and other pivotal stakeholders to achieve desired outcomes. Additionally, HMP prioritizes garnering the backing and active involvement of medical and nursing staff, recognizing their vital role in delivering quality healthcare services and driving financial success.

Throughout a restructuring, whether it's within or outside bankruptcy, HMP collaborates closely with management to devise and promptly execute a pragmatic plan tailored to the organization's resource limitations and market stance. We're hands-on, spearheading key elements of the turnaround process and facilitating intricate stakeholder relations and communication. As part of this effort, our executives will:

• Tackle urgent working capital requirements.
• Secure the foundation of core operations.
• Assess financial projections and craft practical business strategies.
• Create and execute operational restructuring initiatives as needed.
• Establish and maintain continuous communication channels with essential stakeholders.
• Devise and promptly execute cost-cutting measures.
• Create and put into effect guidelines and controls for conserving cash.
• Create incentive plans for employees.
• Identify and divest non-essential assets.
• Craft plans preemptively to address potential bankruptcy situations.
• Provide support in administering bankruptcy cases, fulfilling roles as Bankruptcy Trustees and Examiners.
• Oversee communication with creditors and facilitate negotiation processes.

Hospital Contract Management

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HMP is poised to take on the comprehensive contract management of hospitals, spanning various sizes and developmental stages for a duration of 3 to 5 years. We operate under direct accountability to the board of directors, assuming complete responsibility for planning, organizing, staffing, directing, and efficiently managing hospital operations.

Our executives excel in spearheading the establishment of new or replacement general acute care or specialty hospitals, as well as revitalizing and repositioning existing ones. Unlike traditional management consulting firms, HMP's contract management executives have the flexibility to source the most optimal and cost-effective solutions from various avenues, ensuring successful implementation of strategic or tactical initiatives for the hospital.

We are well-equipped to spearhead initiatives in the following areas: