Outmaneuver Uncertainty: What To Do Now and Next
COVID-19 has created unprecedented financial damage to America’s hospitals and health systems, and will reshape healthcare’s future in ways that are hard to predict.
To emerge successfully from the COVID crisis, organizations need the very best and most nuanced plans, and superbly coordinated execution. We work as a quarterback across all parts of the recovery, including baseline financial and credit position, operational cost structure, strategic positioning, and balance sheet improvement.
The Path Forward
The First Phase: Assessing the Impact
This phase includes understanding the effects of COVID on the environment and on the organization’s financial and operational conditions. This assessment results in an organization-specific scenario that combine pre-COVID state and the impact of COVID.
The Second Phase: Charting the Path Forward
This phase connects the organizational state with strategic goals for a post-COVID future. For example, larger, financially strong organizations that were only modestly affected by COVID may focus on a growth strategy. Organizations that were stable prior to COVID but moderately affected by the virus may focus on recovery. And organizations that were financially challenged prior to COVID and hit hard by the virus’ effects may focus on significant restructuring.
Tools of Recovery
Kaufman Hall is the only firm operating in healthcare to combine industry-leading capabilities in financial planning, performance improvement, strategy, treasury consulting, and software under a single umbrella. We can help manage the full process of recovery, applying the critical tools necessary to understand the impacts of COVID and chart a successful path forward.
More insights and actions for the COVID-19 crisis
It’s Hard To Be a Hospital Board in 2021
Rating Agency Webinar: COVID-19 Pandemic’s Continued Impact on Hospitals
Re-setting the Healthcare Gyroscope
HLC: Continuing the Conversation - John Murphy, MD, President and CEO, Nuvance Health
Kaufman Hall & Hagerty Consulting: Partnering for Healthcare Recovery.
The Kaufman Hall and Hagerty Consulting partnership brings together Kaufman Hall’s expertise in healthcare strategic financial planning with Hagerty’s disaster preparedness and recovery funding consulting capabilities into a single, comprehensive solution for U.S. healthcare providers.
Our healthcare experts