Spectrum Health Partner’s financial restructuring, turnaround and bankruptcy services focus on restoring financially distressed hospitals to a position of financial strength. Our process is designed to quickly stabilize your entity in the short-term while repositioning it for long-term success. If designed correctly, restructuring, turnaround and bankruptcy services are uncomplicated and very effective. The results of the restructuring, turnaround and bankruptcy will position it for success far into the future.
The stated goal of all healthcare organizations is to improve the financial performance of the entity and simultaneously increase the quality of patient care. After all, the patient is the primary reason that healthcare exists. Increasing the quality of patient care cannot be achieved without the organization first achieving financial success.
Unfortunately, in these challenging times, improving the financial performance of the entity sometimes becomes a dream and not the reality. Pressure from federal and state governments, reduced reimbursements from third party payers, pressure from the medical staff, an aging physical plant, reduced patient census, and an obsolete Information System, only to name a few can all be factors which lead to the poor financial performance of an entity. Poor financial performance yields low quality patient care and ultimately a distressed healthcare entity.
Spectrum Health Partners is differentiated as an organization through not only the quality of its collective experience and fundamental knowledge of the healthcare industry, but through the proven capabilities of its professionals to successfully execute intense change management.