Industry expertise delivers greater value to IT strategy
Industry expertise delivers greater value to IT strategy
Having the right people, processes, and technology in place delivers greater value in a shorter timeframe during post-close integration following a merger or acquisition – but the M&A analysts at SimiTree say one important piece of that crucial triad of expertise sometimes gets overlooked.
Niche healthcare expertise in home health and hospice is prized for creating efficiency and strengthening operations when filling leadership roles and unifying processes.
When a hospital system acquires a home health agency, for example, all parties generally understand that the myriad of differences between post-acute and acute care, from regulations to operations, must be considered, and specific home health expertise is needed.
But when it comes to developing a new IT strategy, integration leaders don’t always realize how important it is to rely on consultants with specific home health and hospice expertise.
“There’s more at stake than infrastructure, and getting a state-of-the-art digital/data platform in place,” said SimiTree Associate Principal Mark Romano.
An IT strategy for home health and hospice
“We look at development of IT strategy from a holistic approach, using SimiTree’s full understanding of every aspect of clinical and financial operation in home health and hospice, to approach the IT strategy with thoughtful and specific analysis,” Romano said.
“The result is a smarter, leaner approach that works more efficiently within the parameters of our industry. It’s not a one-size-fits-all strategy. It’s a very specific and efficient strategy.”
SimiTree IT consultants work closely with M&A experts to deliver guidance designed to add value to the integration and boost the functionality of the IT system, relying on industry experience to set up tools and dashboards that address efficiency, shore up regulatory compliance and optimize financial performance.
“As an example, we know from our extensive experience in home health and hospice revenue cycle management how to circumvent the IT issues that slow claims processing and negatively impact the revenue cycle,” Romano said.
“We can create the right tracking mechanisms and the right reports to minimize administrative workload and optimize technology for faster claims processing and stronger cash flow, optimizing the revenue cycle.”
What SimiTree IT consultants do
“Mergers and acquisitions offer both companies the chance to rethink IT strategy and technology, rebooting processes, productivity, and, ultimately, profitability”, Romano said.
SimiTree consultants provide full support during integration with a multi-layered implementation process that includes system selection, project management, change management, transition services and support, customized user training, progress tracking and more.
SimiTree IT consultants also work with many clients who are not undergoing integration, and simply want to upgrade an existing system or acquire a new one.
Because the SimiTree IT consulting team is independent, not affiliated with any particular software, SimiTree consultants can provide objective guidance to clients, whether the client is selecting a new Electronic Health Record (EHR) or reconfiguring an existing EHR to expedite claims processing and optimize revenue.
Listening carefully to the client to meet client goals is an integral step in the work SimiTree does on all IT consulting engagements, according to SimiTree IT Consulting Director Aldin Fauni.
“We listen to our clients to deliver solutions to make technology work for your organization – not the other way around,” Fauni said.
SimiTree can help
SimiTree brings deep post-acute expertise and a full understanding of the complexities of our industry to each engagement. Our M&A team offers a full range of professional services to assist providers in each phase of a successful transaction, from business valuation and diligence to post-close integration.
When you need full IT integration services, a selection study, or implementation and training, our independent IT experts deliver the strategy, analysis, tools, and management needed.
Use the form below to reach out to us today with your questions.
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