Through years of fruitful client collaborations, Healthcare Management Partners has honed a suite of advanced tools. These enable us to swiftly aid clients and corporate partners in achieving their distinct business goals. Our experts leverage these tools to rapidly assess our healthcare clients' market positions, productivity levels, financial health, and short-term debt capabilities, ensuring swift response to pressing working capital needs.
We've crafted a tool to meticulously analyze the payment patterns and practices of third-party payors. This resource helps providers optimize their collection strategies, ensuring they receive maximum reimbursements.
Lastly, HMP has curated an exceptional set of tools that empower us to reduce the cost of managing the administrative challenges faced by healthcare clients in bankruptcy.
Peer Group Benchmarking for Healthcare Providers
HMP Metrics™ harnesses a tailored electronic database, drawing from the Healthcare Cost Report Information System (HCRIS) data spanning over 200,000 Medicare Cost Reports filed by various healthcare providers since 1994. For hospitals specifically, our database also incorporates selected data elements from the Medicare Provider Analysis and Review (MEDPAR) database, along with datasets licensed from credit rating agencies and healthcare industry trade associations.
Through our proprietary filters, the HMP Metrics™ database undergoes meticulous "scrubbing" to eliminate inaccurate, partial period, and statistically abnormal data elements specific to individual hospitals or health systems. This stringent data validation ensures that HMP Metrics™ generates peer group comparisons that are highly accurate and easily defensible across numerous standard industry metrics. Additionally, HMP Metrics™ provides transparency by disclosing the number of records (cost reports) excluded from the calculation of each metric.
HMP excels at crafting tailored reports that blend or form new peer groups for comparison against state or national benchmarks. Here are examples of peer groups that users might want to explore:
- Hospital members of a single multihospital system
- Hospitals with a specific long-term debt rating (BBB, A-, AA, etc.)
- Hospital members of specific hospital trade association (CHA, NCHRI, AAMC, etc.)
- Hospitals by ownership, size, geographic region, or teaching status
- Hospitals with outstanding bonds issued by a specific bond authority
The range of peer groups and metrics available for measurement is virtually limitless. Furthermore, for every comparison and metric within a peer group, HMP Metrics™ also provides the mean and median values for the peer group, along with record counts for each quartile within the group.
Our HMP Metrics™ benchmark reports swiftly pinpoint trouble spots within an organization. These areas can then be thoroughly investigated to uncover root causes and pave the way for prompt resolution.
Patient Migration Studies (Market Share Analysis)
HMP is licensed and proficient in analyzing data from the Medicare Provider Analysis and Review (MEDPAR) database. Updated yearly, MEDPAR includes over 100 data elements for all Medicare inpatient and outpatient claims. Leveraging this data, HMP has developed models to determine hospital market share by major diagnostic category (MDC), conduct patient migration studies, and prepare analyses related to allegations of fraud, abuse, or other corporate compliance matters. Additionally, we're equipped to utilize state-level Medicaid and patient billing databases, where available, to enhance our analyses.
Hospital Financial Forecast Model
The Hospital Financial Model is a versatile yet cohesive financial tool, designed to swiftly and accurately construct operating budgets, assess the financial sensitivity of various scenarios, and evaluate business risks. Featuring a control board with adjustable values for key forecast assumptions, users can promptly gauge the financial implications of alternate assumptions or business risk profiles. Some key points include:
- Historical Inpatient and Outpatient Origin
- Definition of Historical Inpatient and Outpatient Geographic Service Areas
- Medical Staff Profile and Historical Utilization
- Competitor Profile
- Historical and Projected Inpatient Demand
- Historical and Projected Outpatient Demand
- Historical and Projected Units of Service (UOS)
- Historical and Projected Revenues and Expenses by Cost Center
- Historical and Projected Financial Statements
- Historical and Projected Key Financial Ratios
- Projected Debt Capacity
When integrated with our tailored data mining and analysis capabilities and complemented by HMP Metrics™, this tool becomes a powerful asset. Together, we can swiftly diagnose operational challenges and uncover opportunities. Equally important, we can effectively communicate these insights to key stakeholders in a clear and actionable manner.
Patient Accounts Receivable Financing Borrowing Base Calculator (BBC)
HMP has devised a streamlined process alongside a companion financial model, facilitating the swift calculation of a hospital's borrowing base availability. This relies on active patient accounts receivable (or their revenue) as collateral for the credit facility. Our model empowers hospitals to assess their borrowing base on a daily or weekly basis, allowing them to generate a valid "Officer's Certificate" swiftly, enabling them to access available credit facilities when needed.
This tool, crafted to match the stringent documentation requirements of a top healthcare industry lender, is tailored for use alongside credit facilities provided by local banks or non-financial lenders (such as DIP lenders or potential buyers of the facility) who may not typically engage in patient accounts receivable financing. Once implemented, HMP oversees the process continuously on behalf of the lender.
Third Party Payor Payment Patter Analysis
With our Patient Accounts Receivable Financing Borrowing Base Calculation Database, or BBC Database, encompassing nearly 100% of all patient accounting activity (billing, collections, adjustments, etc.), reorganizing the data for a comparative analysis of historical payment patterns of third-party payors is a straightforward task. This valuable insight can uncover weaknesses in the hospital's revenue cycle management. Moreover, with legal counsel guidance, the hospital can leverage this information to demand "specific performance" from individual payors, addressing any non-compliance with contract payment terms effectively.
Bankruptcy Administration
To streamline operations and minimize professional fees incurred by estates of healthcare providers in bankruptcy, HMP has engineered the following automated tools:
- 13 and 26 Week Cash Flow Model
- Monthly Operating Report (MOR)
- Court Supervised Professional Fee Application
Customized Data Mining and Analysis
With the majority of business transactions conducted electronically, there's a growing need for collecting and analyzing electronic information. Our professionals take a hands-on approach to gather and scrutinize data from expansive databases. We harness these insights to craft comprehensive reports vital for investigations and litigation purposes.
Our experts are well-versed in various database formats including Oracle, SQL Server, and Informix, alongside major hospital information systems. We specialize in extracting critical electronic information to address intricate challenges and assist clients in finding solutions.
Furthermore, we hold licenses and expertise in analyzing data from federal databases such as the Healthcare Cost Report Information System (HCRIS) and Medicare Provider Analysis and Review (MEDPAR), as well as state Medicaid and patient billing databases. Leveraging these analyses, we discern competitive cost structures, market share, and compile reports addressing allegations of fraud, abuse, or corporate compliance issues.
Our suite of Data Mining and Data Analysis services include:
- Identification of Key Financial Systems
- Preservation and Extraction of Financial Databases
- Damages Calculations
- Analysis of Financial Databases
- Presentation through Reports and Graphs