Are You Ready for a Hospital Merger?

This past January, Modern Healthcare published Healthcare executives expect M&A to boost business in 2019. “Nearly three-quarters of 291 senior executives polled said they expect better business performance in 2019 than last year, fueled primarily by mergers and acquisitions.”

Executives have good reason to be optimistic. Hospital and physician office mergers and acquisitions aren’t new. Mergers and acquisitions have been going up and up for the last several years.

Some notable mergers and acquisitions already in 2019 include:

• – Catholic Health Initiatives (CHI) and Dignity Health merged, creating CommonSpirit Health, one of the largest non-profit health systems nationwide.

• – Sanford Health and Evangelical Lutheran Good Samaritan Society merged employing almost 50,000 individuals and bringing in more than $5 billion in annual revenue.

• – Cleveland Clinic added 4 hospitals to their system acquiring the Indian River Medical Center and Martin Health System (a three-hospital system), both in Florida.

• – HCA Healthcare, one of the nations largest for-profit hospital operators purchased Mission Health (a six-hospital system based in Asheville, NC).

Why do hospitals merge?

Hospitals and physician offices merge for many reasons ranging from financial and reimbursement pressures to sharing a mission and desire to be competitive in providing services through combined resources. Whatever the reason, mergers and acquisitions can be a risky undertaking with distant organizations trying to unify their operations.

Standardizing electronic health records, combining/merging Charge Description Masters, and aligning corporate and medical staff cultures can be a tall order. MedCom Solutions is here to help. Using our patented software and technology, MedCom’s clinical consultants can seamlessly unify organizational operations.

About MedCom Solutions

MedCom Solutions creates patented technology and state-of-the-art software to help medical service providers meet rapidly escalating and changing medical billing demands. Our Chargemaster, Pricing, and Compliance solutions have yielded hundreds of millions in net revenue for healthcare providers across the country.

Learn more about our solutions or visit our homepage or contact us today!