Focus Management Group

Healthcare Industry Experience

Review for the Attorney General

Industry:

Healthcare

Company:

Review for the Attorney General

Situation:

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

Focus Scope:

Tasks Performed:

  • Reviewed all board and committee minutes as well as third party reports relative to financial alternatives available to the healthcare provider.
  • This allowed Focus to ensure that the process undertaken by the board of directors of the healthcare 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 healthcare needs of the region served will be continued during the 10 year contract period.
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