Kaufman Hall White Papers
How to Make the Strategic Partnering Decision
Mark Grube and Mike Finnerty
What We’ve Learned from Recent Merger, Acquisition, and Affiliation Activities
Since early 2009, Kaufman Hall has been collaborating closely with senior management teams and boards of hospitals and health systems nationwide to identify and evaluate their strategic options in the rapidly changing healthcare environment and, if appropriate, to structure and execute partnership arrangements.
Based upon this experience, Mark E. Grube, Managing Director, and Michael J. Finnerty, Senior Vice President, authored this white paper to share eight lessons that can help healthcare boards and executive teams make the best-possible strategic partnership decision. The authors also provide relevant examples of best-practice partnering processes.
1. Set clear objectives.
2. Carefully manage expectations.
3. Bring the right people to the table.
4. Identify and assess best-fit partners.
5. Test cultural compatibility.
6. Select the right partnership structure.
7. Ensure stakeholder buy-in.
8. Recognize when not to partner.
Exploring partnership options is perhaps the most important activity in which a hospital or health system’s board and management team will engage. Healthcare’s new value-based business model will be transformative for most hospitals and health systems. Many organizations will need to secure strategic partners in order to access required expertise and capital resources. The authors urge healthcare boards and executive teams nationwide to carefully consider partnership opportunities, and in so doing, take stock of the eight lessons described here.
For more information, contact Mark Grube
or Mike Finnerty
via e-mail or by phone at 847.441.8780.
To download the white paper, please click below.