Sleep Medicine Provider

KCP_Healthcare

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:
    1. Stabilize operations
      • Communications
      • Technology (billing and practice management, EMR)
      • Technical proficiency
      • Financial and operational reporting
    2. Re-evaluate programs
      • Proposed profit benchmarks for individual programs
    3. Strategic planning
      • Identified outsourcing, new program, and new revenue source opportunities