Health reform is going to challenge hospitals of all sizes, especially during the shift from the current reimbursement mechanism to value based purchasing. Hospital leaders must have a plan for managing the transition, or risk spiraling downward.
Brentwood, TN (PRWEB) May 04, 2011
Ted Woodrell, president of QHR Intensive Resources, will co-present an HFMA Webinar on May 24 with Rick Cooper of McDonald Hopkins law firm. “Addressing Challenges and Implementing Turnaround Strategies in Financially Distressed Hospitals” will begin at 2 p.m. CST and address industry distress trends and projections; causes and stages of distress; operational, financial and legal “red flags” of distress; key challenges faced by distressed facilities; and strategies and tactics that distressed facilities can deploy.
“Health reform is going to challenge hospitals of all sizes, especially during the shift from the current reimbursement mechanism to value based purchasing. Hospital leaders must have a plan for managing the transition, or risk spiraling downward,” Woodrell says. “Equally important is being able to recognize the ‘red flags’ of financial distress, so that situations can be assessed quickly and accurately, and solutions can be implemented.”
“Addressing Challenges and Implementing Turnaround Strategies in Financially Distressed Hospitals” is free to HFMA members and $99 for non-members. To learn more or to register for this event, visit http://www.hfma.org/webinars.
About Ted Woodrell, FACHE
Healthcare veteran Ted Woodrell has more than 30 years of hospital operations and financial management experience; he has served in leadership positions with hospitals and healthcare systems of varying complexities in both rural and urban markets. Prior to joining QHR Intensive Resources in 2010, Ted served as CEO of Sparks Health System, a multi-organization system including 492-bed Sparks Regional Medical Center. He also previously served as CEO of the University of Mississippi Medical Center (UMMC) Hospitals and Clinics, where he managed overall operations of seven healthcare entities and was credited with The University Hospitals and Clinics’ ranking on Thomson Reuters’ “Top 100 Hospitals” list. Other career highlights include the co-founding of Jackson Medical Mall, a one million-square-foot joint community and university medical center; the development and management of a comprehensive managed care strategy for both the hospitals and faculty at UMMC; and the development and implementation of strategic and operational changes that led to University Hospitals and Clinics being recognized by Modern Healthcare as one of the top 10 growth hospitals in the United States (1998). Ted holds a master’s degree in public administration (healthcare administration) from the University of Missouri at Kansas City.
About QHR Intensive Resources
QHR Intensive Resources (QIR) is a wholly owned subsidiary of Quorum Health Resources (QHR), the market leader in hospital management and the seventh largest healthcare management consulting firm in the U.S. QIR is a partner to hospital governing bodies, as well as lenders, credit enhancers and other financial institutions. The company provides short-term, high intensity support to hospitals and health systems experiencing financial or operational distress. Areas of expertise include: interim and turnaround management for distressed hospitals; financial restructuring; hospital lease conversions; sale, merger and joint venture assistance; bond covenant studies; and new hospital development. For more information, go to http://www.intensiveresources.com.