It's clear that many of the 'have nots' will be unable to survive over the long haul. They simply don't have the capital reserves and resources to ride out the current financial storm, and will need to seek shelter.
Philadelphia, PA (PRWEB) April 5, 2009
Health Strategies & Solutions, Inc. (HS&S), the nation's leading health care strategy firm, has announced the formation of a Post-Merger Integration and Restructuring Practice. The new practice will focus on helping hospitals and systems with the many challenges posed by increasing financial pressures and the consolidating health care market.
According to HS&S President Alan Zuckerman, "We're seeing another wave of health care provider consolidation emerging across the country. As the number of financially fragile hospitals and systems increases, hospitals and systems are moving into two categories--a relatively small group of the 'haves' and a large and growing group of the 'have nots'." Zuckerman said, "It's clear that many of the 'have nots' will be unable to survive over the long haul. They simply don't have the capital reserves and resources to ride out the current financial storm, and will need to seek shelter."
The new services offered by HS&S are designed to help organizations that are evaluating merger opportunities and those that are in the process of merging or have already merged and are trying to realize anticipated revenue and expense benefits and improved patient care.
Keith Pryor, one of the HS&S post-merger practice leaders, notes that bringing together providers into a newly merged organization creates vast change management and cultural issues for health care leaders as well as other dilemmas. "Financial circumstances, understandably, are the key drivers of mergers and consolidations, but in service industries, like health care, you have to pay close attention to how the missions and organizational cultures of the merging organizations are impacted. Add to the mix issues such as organization and board structures, service line reconfiguration, and medical staff concerns, and many organizations feel overwhelmed about how to make mergers work," Pryor said.
Health Strategies & Solutions Post-Merger Integration and Restructuring Practice is led by a team of senior strategists--Keith Pryor, Peter McGinn, Sam Steinberg, and Alan Zuckerman--who have extensive experience leading and providing direction to hospitals and systems undergoing significant change. According to Zuckerman, "We each have over 25 years of experience as health care executives and consultants. We've been in the trenches at organizations that must make difficult decisions about how to best meet community needs, manage the day-to-day demands of a complex organization, and then plan for the future. It's multitasking at a very high level. Our post-merger services are designed to help organizations that need support and direction with managing all of these challenges while building high-performing health systems."
About Health Strategies & Solutions, Inc.
Health Strategies & Solutions, Inc., is a leading independent health care strategy firm providing planning and strategy services to community hospitals, academic medical centers, physician practices, large health systems, and specialty hospitals across the country. Additional information on the firm is available at http://www.hss-inc.com.
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