Step 1: Identify
The Needs of the Hospital & Its Community
People’s Choice Hospital works with a diverse network of physicians, hospital administrators, and healthcare IT professionals who are all dedicated to turning distressed hospitals into facilities that are inspiring to the communities they serve. PCH understands the unique needs of physicians, nurses, administrators, and the patients they serve. This approach is crucial to a successful turnaround of a distressed hospital.
Step 2: Assess
The Financial & Operational Realities
Once a facility-in-need is identified, the PCH team reaches out to leadership in an effort to assess the situation and begin conducting due diligence. While many financial situations are determined to be severe, PCH is able to craft vision for revitalization. Key stakeholders become involved in the process, where valuable experience and knowledge of the hospital is put to use. These resources are extremely important to a successful turnaround.
Step 3: Develop
A Viable Financial & Operational Model for Success
Based upon due diligence and assessment of a distressed hospital’s current situation, PCH then crafts an agreement, which includes a detailed financial package for the facility, along with specific recommendations on how the transaction can be achieved. PCH has an extensive network of financial and operations experts able to take creative business strategies and translate them to success.
Step 4: Deliver
Experienced Clinical, Technical, Operational Teams
Once financial details have been confirmed and the funding process has reached a successful conclusion, PCH can deploy their clinical, technical, and operations team to put the plans into immediate action. EHR and HIS software systems are deployed, clinical workflow is optimized, and Revenue Cycle Management solutions begin to turn a dire financial situation into a true opportunity for success.