Transition Healthcare
Company, LLC (“THC”) is a newly formed company with offices in
On May 8, 2008, THC and Falcon announced
that MSMC Investors, LLC (jointly owned by THC and Falcon) will acquire St.
Francis Hospital & Health Center in
THC is actively seeking to purchase additional hospitals in a variety of locations. We are looking for hospitals that are located in or around urban areas which have been distressed financially but which continue to be needed to provide quality healthcare to their community.
The principal lesson the management team at THC has gleaned through dozens of hospital turnarounds and business plan developments is that no turnaround/business plan is the same. All healthcare is local, solutions must be tailored to local circumstances and cannot be successfully developed or implemented without first garnering input from stakeholders. Having said that, THC will approach turnarounds/business plans with certain biases:
Quality. THC's strong bias is that providing demonstrably high quality care is the primary obligation of any of its hospitals. Further, our belief is that providing the right service the right way at the right time and the first time is the most efficient way to deliver care.
Revenue Enhancement. THC's bias is to focus on the local market and to foster tighter relations with physicians by exploring a whole hospital syndication, joint ventures (surgicenters, diagnostic centers, etc.), strong representation on the local Board, and a policy and practice of supporting current medical staff members, new physicians and new services.
Efficiency. THC will examine all opportunities including, without limitation, revenue cycle, supply chain and clinical resource management. THC knows which vendors to use and which ones not to use. THC knows whether a service should be outsourced or brought back into a hospital. The THC approach is one of process reengineering: developing with managers, employees and caregivers, a more efficient way of doing things.
Managed Care and Commercial Contracts. THC will closely analyze existing and potential managed care and commercial contracts to insure fair and timely reimbursement.
Employees. are the most important asset of any hospital. THC will work closely with employees in a variety of ways and will offer competitive wages and benefits. Employee satisfaction is a key measure of quality.
Caregivers. THC will focus on retaining and recruiting top clinicians (nurses, therapists, technologists, et al.) and decreasing agency use.
Community Benefit. THC will strive to serve the community in many ways including delivery of quality healthcare, development of more extensive outreach programs and the restoration of the financial health of the hospital as a significant employer in its community. THC is committed to providing care to the underserved.
Transition
Healthcare Company, LLC
1519 N. Mohawk #300
Chicago, Illinois 60610
Tel.:
301-537-3360
Fax: 312-643-2945
Contact: Arnold
Kimmel, CEO
akimmel@transitionhc.com
