Multi-site Continuing Care System including skilled nursing facilities, home care, and continuing care retirement community (CCRC)
Project Description: Provided interim CEO and CFO services for continuing care health system in process of sale and restructuring.
Results / Value Proposition:Accomplishments during this engagement so far:
- Managed communication of sale to employees and stakeholders without significant fallout
- Corrected census performance issues in subacute care units by redefining admission criteria based on sound financial principles resulting in improved census and revenue
- Established cash management system during period of financial stress after loss of profitable subsidiary and lack of resources
- Negotiation of contract renewal with SEIU 1199 in three facilities
- Negotiated renewal of insurance policies with significant financial savings
- Improved compliance program which then withstood a focused compliance plan review by OMIG
- Managed long-standing bond covenant non-compliance
- Managed post-contract sale process and transitional issues with purchaser
Ambulatory Surgery Center with two urban locations
Project Description: Assisted client with development and ongoing monitoring of a cash management program, as well as access to alternative funding. Develop and implement a business improvement plan focused on increasing volume of cases with strategic linkages.
Results / Value Proposition: Client was better able to manage cash flow and was able to demonstrate improvements to lender.