KCP was retained to provide business performance improvement and advisory services to a healthcare provider. Despite challenges ranging from leadership changes to technology improvements that are revolutionizing the industry, KCP was able to provide strategic insight towards future growth.
Challenges Faced
- Termination of chief operating officer, chief financial officer, and key supervisor, all during the same week.
- Major technology change affecting the market and eliminating bricks and mortar clinics.
- Revenue reduction as a result of reducing reimbursement from payers.
- New strategic direction required.
Solutions Delivered
- One full week of evaluation, ending in presentation to board on Friday morning
- Interviewed key personnel, resulting in proposed organizational chart
- Recommended phased approach:
- Stabilize operations
- Communications
- Technology (billing and practice management, EMR)
- Technical proficiency
- Financial and operational reporting
- Re-evaluate programs
- Proposed profit benchmarks for individual programs
- Strategic planning
- Identified outsourcing, new program, and new revenue source opportunities
- Stabilize operations