HMP LAUNCHES SENIOR SOLUTIONS

HMP Senior Solutions, LLC Launches to Provide Expert Support Navigating Upcoming Challenges, Changes, and Opportunities in the Senior Care Industry

New company spun out of Healthcare Management Partners and partnered with Pathway Health; HMP Senior Solutions to be led by veteran healthcare executive Don Bivacca

NASHVILLE, TENN – March 4, 2020 – Healthcare Management Partners, LLC (HMP) has launched HMP Senior Solutions, LLC, a company committed to operating senior care facilities.

The new entity, a subsidiary of HMP –a leading healthcare turnaround and consulting firm -, will focus on helping senior care facilities manage new and expected challenges in 2020 and beyond. HMP Senior Solutions will be led by Don Bivacca, who has more than 30 years of experience driving successful operation of healthcare organizations.
“Disruption is coming, and senior care facilities need to transform their operations in response,” said Bivacca. “HMP Senior Solutions has built a dedicated team with executive level experience necessary to chart these new challenges and drive senior care facilities to success, not only for today but well into the future.”

“Ultimately, we are focused to help protect client assets and increase valuation, improve quality and stabilize the staff while protecting the residents,” added Bivacca, who has held senior level leadership positions with companies that have led the healthcare industry during his extensive career.

Supporting Bivacca will be an extensive network of experienced operators with healthcare expertise across the continuum of care (Hospital, SNF, ALF, IL, Home Health, and Hospice).

HMP Senior Solutions will manage senior care facilities, with a focus on senior housing including assisted living facilities and skilled nursing facilities. Broadly, service offerings include:

  • Accounting and administrative support
  • Asset management services
  • Clinical oversight and management
  • Response and remediation to regulatory visits
  • Marketing and sales support
  • Executive leadership and oversight
  • Financial and operational analysis
  • Leadership recruitment and mentoring
  • Technical assistance and software implementation
  • Capital improvement management
  • Vendor relations and contracting
  • Human resources including benefits and payroll

HMP Senior Solutions experts have regularly utilized these services in wide variety of engagements at HMP and elsewhere, some of which are:

  • Portfolio Management
    • Direct daily operations of assets to maximize efficiency
    • Create and implementing annual budgets
    • Prepare monthly reporting packages including variance analysis
    • Survey preparedness and quality of care improvements
  • Regulatory Response Services
    • Special Focus Facility (SFF) Turnaround
    • Survey Recovery
    • Immediate Jeopardy Removal
    • Plan of Correction (POC) Development, Assistance and Implementation
  • Distressed Facility Assistance
    • Operational and Financial Assessment and Improvement Services
    • Loan/Lender Improvement Plan
    • Resizing/Redesign for Sustainability
  • Enforcement Remedy Assistance
    • Temporary Management – Executives to Full Operations
    • State Monitoring by Outside Entity
    • Systems Improvement Agreement (SIA)
    • Quality Monitor Providing Oversight to Corporate Integrity Agreement (CIA)
  • Change of Ownership
    • Due Diligence – Financial, Quality, Operational, and Clinical
    • Quality Improvement Assessment (QIA) and Monitoring
    • Policy and Procedures for Transition
    • Clinical and Operational Oversight
  • Turnaround Services
    • Court/StateAppointed Receivership
    • Interim Leadership Placement
    • Turnaround Management including Chief Restructuring Officer

As noted below, previous successful engagements by HMP led to its decision to start HMP Senior Solutions:

  • Turnaround management of a post-acute conglomerate in Tennessee to take operating cash from $6.6 million to $46.5 million within 13 months;
  • Regulatory turnaround of a 2-SNF system from SFF list and significant compliance issues to full compliance, removal from special focus list, avoiding closure, and restoring trust in the ownership group;
  • Restructuring a faith based senior care organization in upstate New York that was suffering from a crisis of management, ultimately stabilizing the organization, implementing annual savings of $10 million, and significantly improving EBITDA, days of cash on hand, equity and profit margins;
    o Serving as Chapter 11 Trustee and court-appointed receiver in the oversight of financially distressed assisted living facilities and nursing homes across Alabama, Georgia, Virginia, Arizona, and Texas;
  • Orchestrating a turnaround of six Texas-based skilled nursing facilities in payment default, becoming the operator, improving EBITDA, returning accreditation and compliance, and facilitating a successful sale.

HMP Senior Solutions has chosen to partner with Pathway Health, a professional management and consulting organization serving clients in the long-term and post-acute care industry. This partnership will allow HMP Senior Solutions to provide highly tailored offerings to REITs, banks, HUD, and private equity groups. These offerings will include comprehensive support, including managing financial reporting and auditing, as well as implementing processes to ensure regulatory compliance.

Industry challenges will loom large for the foreseeable future as policies like Payment Driven Payment Model are introduced concurrently with the senior aging apex getting closer, Bivacca notes regarding the timing of the launch of HMP Senior Solutions. The last baby boomer will turn 65 by 2029 and by 2035 the elderly population will outnumber children for the first time in U.S. history.

He adds, “To meet the long-term needs of the baby boomers, social and public policy changes must begin soon. The industry will have to adjust to new regulatory oversight and payment mechanisms. With these challenges come opportunities for entrepreneurs and operators, which HMP Senior Solutions will be dedicated to providing.”

For more information on HMP Senior Solutions, visit: hcmpllc.com/hmp-senior-solutions/

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