Recently, we sent out a Funding Risk Checklist to help Health Centers prepare for possible reductions in funding. Following last week’s checklist on funding risk management, we are reaching out to introduce a suite of services designed specifically to assist Health Centers in navigating today’s challenging funding landscape. We understand that uncertainties in healthcare revenues require proactive and strategic planning to ensure your Health Center is prepared for potential funding reductions. In today’s environment, contingency planning is a must.
Funding Risk Assessment
We are offering a Funding Risk Assessment to Health Centers that will begin the contingency planning process. As part of this initial assessment, THRIVE will:
Meet with Leadership – Meet with the Health Center’s Leadership to understand their current operations, financial position, and unique circumstances outside federal policy that may impact the Health Center.
Review of Financial and Operational Status – Analyze and assess financial statements, productivity, payer mix, service lines, locations, and staffing and identify strategies to increase revenues and decrease expenses.
Financial Modeling – Create a financial model for the Health Center that can be “flexed” under different scenarios and quantify the true financial risks.
Present Report and Financial Modeling Tool – Provide a report on our findings and, more importantly, outline recommended strategies and contingencies that can be used to adjust to the changing federal environment quickly. Additionally, we will leave the Health Center with a robust financial modeling tool that will allow additional customized modeling after our engagement.
Funding Risk Assessment Pricing
Total Patient Service Fee Revenue Cost
<$1 million: $2,000
$1 - $7.9 million $3,000
$8 – $14.9 million $4,000
>= $15 million $5,000
Additional Services
THRIVE also provides the following services to health centers to further enhance your contingency planning. We encourage you to contact us at (518) 552-0070 or visit https://www.thriveandachieve.com/contact-us to schedule a free consultation to discuss your situational needs.
These services include:
Salary Evaluations – Through our partner firm specializing in Health Center compensation, provide competitive salary ranges based on the market, internal equity, and actual duties rather than job titles.
Staffing Plan – Review staffing and develop a contingency staffing model.
Non-Salary Expense Reconnaissance - Perform a comprehensive evaluation of non-salary expenses and provide recommendations.
Alternative Funding Roadmap – Develop a customized, structured revenue development plan unique to your Health Center.
Organizational Strategy – Develop strategies to promote services that align with changing federal policy, including rural health services and chronic care management.
RCM Reconnaissance – Review RCM performance and practices and provide recommendations for improvement (this is not a billing and coding audit).
Employee Communication Plan – Develop a communications plan and cadence that fosters transparency and helps maintain focus on the patient.
Leadership Fortitude – Acting as an independent party to assist leaders in maintaining focus, analyzing challenges, acting as a sounding board, and maintaining strategic direction.
Patient Care Continuity Plan – Develop a plan to determine which service lines remain open and, if necessary, which ones to close. Develop strategies for scheduling triage, chronic care management, and medication access. Creation of clear protocols for emergency referrals, medication refills, after-hours care, and telehealth options.
Patient Communication Plan – Develop tools for staff to address patient questions and rumors while communicating accurate information proactively. Identify the groups most impacted by federal policy directives and create a strategy to ensure continuity of care.
Hospital/Health Center Partnerships – Create a customized, data-driven strategy to engage hospitals and health systems and monetize the value your Health Center provides these entities. We will guide your Health Center through the process and, if necessary, handle negotiations with hospitals and health systems.
THRIVE is here for you
We look forward to connecting with you to help your organization navigate through these funding risks. Contact us at (518) 552-0070 or visit https://www.thriveandachieve.com/contact-us to schedule a free consultation to discuss your situational needs.
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