Focus Management Group

Healthcare Industry Experience

Not-for-Profit Healthcare Provider

Industry:

Healthcare

Company:

Not-for-Profit Healthcare Provider

Situation:

Focus Scope:

Focus was hired by the Attorney General of the State for a particular state to review the conversion of a not-for-profit health care provider to a for-profit health care operator.

Tasks Performed:

  • Reviewed all board and committee minutes as well as third party reports relative to financial alternatives available to the health care provider. This allowed Focus to ensure that the process undertaken by the board of directors of the health care provider regarding the decision to sell the for-profit-operator was appropriate.
  • Reviewed the purchase agreement for mission support contractual obligations of the buyer, and then reviewed the ability of the buyer to fulfill those requirements.
  • Prepared monitoring suggestions for “core services” to be maintained by the buyer, and prepared suggested responsibilities and budgets for the legacy entity.
  • Reviewed the historic financial performance of the enterprise, to compare and contrast the feasibility of forecasts for future performance.
  • Reviewed the allocation of assets and liabilities to ensure charitable donations were appropriately protected during the sale.

Results:

Focus provided a detailed report regarding the process undertaken, the specific requirements of the purchase agreement and methods of monitoring performance to the contract, and prepared suggested responsibilities and budgets for the legacy entity. Based on this report, the Attorney General was able to ensure the health care needs of the region served will be continued during the ten year contract period.

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