Opportunity within Change
There is little disagreement that the current state of the US healthcare economy is unsustainable. To address this situation, unparalleled public and private reform is underway that will usher in a new economy that rewards quality, efficiency and collaboration.
For those healthcare organizations that wish to thrive in this new economy, they stand at a tipping point where the strategy and tactics they employ today will profoundly impact their opportunity for success in the years to come.
Dynamic Market Environment: Tipping Point
The foundation of that tipping point is the increasing payer focus on the higher-quality / lower-cost dynamic. This has resulted in an environment that is moving with building urgency toward greater clinical integration and population management.
As the evolution continues, purchasers will place more pricing pressure on the industry, and risk based contracts will become the norm. This step change will present the prepared provider with opportunities for margin retention / enhancement.
Risk Capability: Key to Future Success
These opportunities will be balanced by an increase to an organization’s business model risk. Therefore to thrive in this environment, healthcare providers must be prepared to accept greater risk for payment of services with greater insight into the impact that risk presents the organization both financially and operationally. This is the essence of Risk Capability. Increasing an organization’s Risk Capability requires a focus on three critical success factors:
- Enterprise Intelligence
- Revenue Transformation
- Clinical Enterprise Maturity
Read more about Risk Capability here.
The industry’s preparation for Risk Capability drives unique perspectives and approaches in Assurance, Tax and Consulting. With over 220 professionals dedicated to the healthcare industry, the resources of DHG Healthcare stand at the ready to assist our clients on their journey toward becoming more Risk Capable.
The DHG audit approach is a risk-based, continuous process with significant partner involvement throughout the year. As our industry transforms, our clients benefit from the technical acumen and transformational industry understanding of our audit teams. This skill and insight, coupled with the resources of the DHG Healthcare industry practice, enables DHG to provide assurance services that support our clients in the present, and in their journey toward Risk Capability.
Read more about our assurance services here.
The DHG tax approach is customizable to a client’s situation and market dynamics. This flexible approach enables DHG tax to define services that mitigate risk and maximize opportunity. Our current engagements typically involve targeted products and services such as 990 preparation and review, specific issue research, and arbitrage rebate calculations and related compliance.
As our healthcare tax clients progress on their journey toward Risk Capability, we have the capabilities to provide services to:
- Achieve financial regulatory compliance within a risk based contracting environment
- Execute and implement population health assessments (CHNA)
- Design, develop and execute tax appropriate strategies for Risk Capable organizations
Read more about our tax services here.
DHG Healthcare Consulting serves the continuum of care by bringing agile and innovative approaches to the complex business challenges that face healthcare organizations in their journey toward Risk Capability. We serve our clients via four focus areas:
- Enterprise Intelligence
- CFO Advisory Services
Recognized by Modern Healthcare as a top 20 U.S. healthcare management consulting firm, we understand the challenges in your market and offer the services required to meet demanding needs.
To thrive in the new economy, a new level of dialogue and collaboration will be required where historic competitors will become allies, shared accountability will be the norm, and markets will change in an instant. The breadth and depth of the DHG Healthcare Consulting team enables us to rapidly deploy multi-functional teams skilled in assisting our clients in addressing the key challenges of the day and advancing the transformational dialogue.
Read more about our consulting services here.