As patient care continues to move from the inpatient setting to outpatient, the challenge of securing comprehensive documentation that articulates the services rendered and the patient care provided now needs to extend across the care continuum. In the October issue of HIM Briefings, Prism Partner Laura Jacquin offers strategies for organizations to consider when implementing an outpatient CDI program.
The significant market, technology, and regulatory challenges affecting healthcare are also influencing what services HIM departments provide, leading to a transition from a storefront HIM department model to virtualization and consolidation of functions. Prism’s Lynette Kramer sheds light on how tackling these challenges will help organizations reduce operating costs and improve service in the September issue of HIM Briefings.
CHICAGO – Prism Healthcare Partners LTD announced today that Paul Shade has been promoted to Managing Director in recognition of his exemplary performance and results delivered to clients in all areas of valuation, including business, real estate, equipment and asset relifing.
Shade has nearly 15 years’ experience assisting and leading hundreds of valuation projects for healthcare providers. Since joining Prism as Director in 2014, he has been instrumental in expanding the Firm’s valuation and financial advisory service line. Notably, Shade spearheaded the efforts to unite Prism and healthcare and seniors housing valuation firm Principle Valuation, LLC, A Member of Prism Healthcare Partners, earlier this year. Shade has also been heavily involved in shaping and implementing Prism’s sales and marketing strategies.
“We are thrilled to recognize Paul’s industry expertise, achievements and outstanding client service delivery,” said Mukesh Gangwal, President and CEO of Prism. “Paul has been critical to the growth of Prism’s valuation and financial advisory offerings, and I look forward to the valuable contributions he will make as a member of the Firm’s leadership team.”
As Managing Director, Shade will assist in overseeing operations for Principle Valuation and lead business development activities. Prior to joining Prism, Shade was a Director with Huron Consulting Group and before that, a Senior Consultant with Wellspring Partners.
Shade holds a Master of Business Administration from the Kellogg School of Management at Northwestern University and a Bachelor of Science in Finance from Miami University. He is a member of the Healthcare Financial Management Association, Urgent Care Association of America and Ambulatory Surgery Center Association. Shade is also a member of the Union League Club of Chicago, an Executive Member and Trustee of the Union League Boys & Girls Clubs and a Board Member of The Shade Family Foundation. He is based in Prism’s Chicago office.
Prism Healthcare Partners LTD announced plans today to merge with healthcare and seniors housing valuation firm Principle Valuation, LLC. The merger will combine Prism Healthcare Partners’ performance improvement expertise with Principle Valuation’s premier valuation and advisory services. Hospitals, health systems, academic medical centers and other providers will be able to navigate today’s healthcare environment with the help of one firm offering a strong staff with decades of experience and a comprehensive portfolio of services.
“The merging of our two firms provides clients a trusted partner to help tackle a wider range of challenges and improve their bottom line,” said David Shade, President and CEO of Prism Healthcare Partners. “Joining forces presents opportunities to expand our firms’ market presence, extend and enrich client relationships, and increase the scale of operations and support for our teams. The end result will be a distinct and high-impact offering aligned with the evolving needs of the healthcare community.”
Both firms are privately-owned and are led by senior-level experts who have focused their careers on serving the healthcare industry. Prism and Principle Valuation have similar clientele and have collaborated on numerous projects over the past few years.
“The fit between Prism and Principle Valuation is natural,” said Timothy Baker, President of Principle Valuation. “Both firms are established and well-respected healthcare provider-focused organizations with complementary cultures and approaches to client service. Merging will enhance our collaborative relationship to the benefit of clients and staff.”
The deal is expected to close in January 2016.
About Prism Healthcare Partners
Prism Healthcare Partners LTD is a national healthcare consulting firm focused exclusively on helping hospitals, health systems and academic medical centers improve their financial, operational and clinical performance so that they can better serve the needs of their communities. Prism’s services include supply chain, workforce, revenue, clinical transformation, physician operations and strategy. Prism’s team of senior level healthcare experts has decades of experience helping hundreds of healthcare organizations across the country realize hundreds of millions of dollars in benefits. The firm is headquartered in Chicago and also has an office in Fort Lauderdale. For more information visit www.prismhealthcare.com.
About Principle Valuation
Principle Valuation, LLC is a national, full-service valuation firm dedicated exclusively to the healthcare and seniors housing industries. Its services have helped thousands of clients across the country obtain financing, comply with governmental reporting requirements, reduce depreciation expense and insurance costs, and perform life studies on depreciable assets. Its professionals have specific expertise in all healthcare and seniors housing asset classes, including real estate (land and improvements), equipment, intangibles and business enterprise. The firm is headquartered in Chicago. Principle Valuation has provided valuation services to thousands of healthcare clients across the country. More information is available at www.principlevaluation.com.
NEWS AND UPDATES
Ramona Lacy, Executive Vice President and Managing Partner of Prism Healthcare Partners, and Dr. Bonnie Barndt-Maglio, Managing Director at Prism Healthcare Partners, were selected to lead a seminar at the American College of Healthcare Executives (ACHE) 2015 Congress on Healthcare Leadership. Lacy and Barndt-Maglio co-presented with Nancy Rongo, Vice President and Chief Quality Officer of UHS Inc., on “Improving the Bottom Line by Optimizing Patient Throughput.”
The seminar examined the clinical initiatives Prism and UHS, an integrated healthcare delivery system with 500+ beds in New York State, implemented to reduce excess inpatient days. The UHS programs produced more than $8 million in tangible annual financial benefit, 20 extra beds of capacity and improved patient care. The seminar educated senior healthcare executives on strategies and methods to increase capacity by leveraging hospitalists and care management programs.
Lacy, Barndt-Maglio and Rongo were selected out of more than 400 applicants to present at the ACHE Congress. ACHE is a professional association of more than 40,000 healthcare executives who lead hospitals, healthcare systems and other healthcare organizations. The annual Congress, held March 16-19, 2015 in Chicago, draws more than 4,000 healthcare leaders. Lacy, Barndt-Maglio and Rongo presented “Improving the Bottom Line by Optimizing Patient Throughput” twice on Tuesday, March 17.
Ramona Lacy, FACHE, is a co-founder of Prism Healthcare Partners. She has more than 25 years’ experience helping hundreds of hospitals and health systems improve financial and operational performance. She is a nationally recognized expert in operational management and co-architect of Prism’s clinical and non-labor methodologies. Dr. Bonnie Barndt-Maglio, RN, is a Managing Director at Prism and has over 30 years’ experience in the healthcare industry. She has extensive expertise in effective delivery of patient care, resource management, operations and planning.
Nancy Rongo, RN, MS, CNAA, BC, CHCQM, is Chief Quality Officer at United Health Services, Inc. She also serves as the Vice President for Quality and Patient Safety at UHS Hospitals, a 516-bed teaching hospital system located in the southern tier of New York. Rongo provides strategic direction for integration of performance improvement, system-wide care coordination and clinical quality and oversees clinical effectiveness and patient safety for all services provided at UHS.
For a copy of “Improving the Bottom Line by Optimizing Patient Throughput,” contact Ramona Lacy at email@example.com or (954) 646-2901.
CHICAGO – Prism Healthcare Partners LTD announces continued strategic growth with the appointment of veteran healthcare executive Laura Jacquin, RN as Managing Director. Jacquin will lead Prism’s clinical performance and clinical document improvement (CDI) projects and contribute to the expansion of the firm’s clinical assessment/implementation and CDI service areas.
Jacquin’s expertise in clinical operations and performance improvement spans more than 25 years. In addition to practicing as a clinician, she has held senior leadership roles with national and international consulting firms, helping healthcare entities improve their bottom lines through hospital and continuum based care coordination, care progression, and clinical optimization.
“I truly believe in the vision of Prism’s Managing Partners – that the client should be the focus of what we do and that our solutions should be flexible and tailored to meet client needs,” Jacquin said. “As hospitals and health systems prepare for the shift to fee-for-value payment models, organizations must address both the cost of care and quality outcomes. Prism’s experts will skillfully guide clients to achieve the clinical performance and comprehensive documentation of the care rendered that will be key drivers of success in this model.”
“We are committed to helping our clients improve clinical performance and clinical documentation. Laura’s extensive knowledge of clinical operations, particularly the critical area of CDI, is a significant asset to Prism and the hospitals and healthcare systems we serve,” said David M. Shade, President and CEO of Prism.
Most recently, Jacquin oversaw the clinical operations service line at a global consulting firm. During her tenure at Wellspring Partners, Jacquin successfully implemented and expanded the firm’s CDI practice. Her clients realized $700,000 to more than $10 million in additional revenue, depending on their organizational size.
Jacquin received an MBA in finance from the University of Indianapolis and a Bachelor of Science in nursing at Indiana University-Purdue University Indianapolis. Based in Indiana, she will contribute expertise to client projects across the country.
CHICAGO – Prism Healthcare Partners LTD announced that it has promoted Neil Faux to Managing Director, demonstrating his strength in human resources expertise and his 13 years of experience in management and consulting, particularly in optimizing HR operational efficiencies, cost management and strategic planning.
Formerly a Director, Faux is nationally recognized for his expertise in Human Resources Management and Optimization. According to David M. Shade, President and CEO of Prism, “Faux’s deep expertise with implementing HR savings strategies is a valuable asset to our clients who are faced with changing workforce models to fit a new reality.”
Faux will report to Fetters. Prior to joining Prism, Faux was a Director at MedSynergies and a Manager at Huron Consulting Group, Broadlane and Novia Strategies.
Faux received his bachelor’s degree in Accounting from the University of Texas at Arlington. He is a Certified Strategic Workforce Planner and has a Senior Professional Human Resources designation.
CHICAGO – Prism Healthcare Partners LTD announced that it has promoted Brad Fetters to Managing Partner, reflecting his pivotal leadership at Prism and his 20 years of experience in management and consulting, particularly in optimizing hospital performance.
Based in Dallas and formerly a Partner, Fetters is nationally recognized for his expertise in Workforce Management and Optimization. His work during his career has helped hospitals save tens of millions of dollars, improve profit margins and raise bond ratings through process and operations improvements, increased productivity, change management programs and re-engineering projects.
“Health systems are looking for ways to be the most efficient provider of quality medical services while reducing costs in all areas,” said Fetters. “I am dedicated to finding the right solutions for my clients.”
According to David M. Shade, President and CEO of Prism, “Brad’s strong background from both the client and the consultant perspective has helped him design the most effective programs for our clients. He has served clients with an exceptional commitment to excellence in the past year making this recognition well deserved.”
Fetters will report to Shade. Prior to joining Prism in January 2013, Fetters was a Managing Director at a national healthcare consulting firm. He also served as an Executive at Tenet Healthcare and as Vice President of Consulting and Services at Cardinal Health.
Fetters received his bachelor’s degree in Business Administration from the University of Texas at Austin and an MBA from Texas Tech University. He is a member of the American College of Healthcare Executives.
CHICAGO – Prism Healthcare Partners LTD announced that Jan van Londen has been named a Managing Director, bringing expertise in implementing non-labor cost reduction and financial improvement beyond traditional areas.
With this appointment, Prism continues to add or reinforce skills and capabilities to better serve clients. Van Londen has extensive experience implementing cost savings and increasing profitability for healthcare providers with a track record of achieving excellent financial benefits for his clients.
“I joined Prism because they focus on rapidly maximizing profitability. Prism experts truly partner with hospitals to ensure sustainability of results,” van Londen said. According to David M. Shade, President and CEO of Prism, “In recent weeks, several senior people with expertise in all areas of performance improvement have joined Prism. These skills will help our clients navigate one of the most profound periods of change ever in healthcare delivery.”
Most recently, van Londen was a senior director for a public consulting company. With more than 20 years of experience, van Londen has worked with community hospitals, large multi-hospital health systems and academic medical systems. He will be based in Baltimore.
Van Londen received a bachelor’s and a master’s degree in Mechanical Engineering from Delft Institute of Technology in the Netherlands as well as an MBA from Columbia University.
CHICAGO – Prism Healthcare Partners LTD today announced the appointment of John Storino as Managing Director. He is an expert in revenue cycle operations for health systems.
“With the Affordable Care Act impacting organizations now, health systems need to find new ways to maximize revenue. Our work at Prism is designed to assess and implement rapid opportunities so that systems can survive the massive change,” said Storino.
According to David M. Shade, President and CEO of Prism, “We are dedicated to bringing the industry the most qualified experts for managing population health, bundled payments and delivery of care, while increasing revenue and decreasing costs. John’s revenue cycle experience is a solid addition to the Prism team as he brings a proven track record of implementing sustainable results.”
Before Storino, joined Prism, he served in leading clients to substantial revenue cycle improvements while working at a national public consulting firm. He is a seasoned executive with more than 20 years of experience serving a variety of clients, including academic, tertiary care and community hospitals, physician practices, and managed care organizations. His expertise spans regulatory compliance, revenue enhancement, business office redesign, and project management.
CHICAGO – Prism Healthcare Partners LTD announced today that Tim Ogonoski has been named Managing Director, effective July 1st.
Ogonoski has more than 20 years of experience working with health systems, large physician group practices, and academic medical centers. In these roles, he has improved physician alignment, patient access and throughput, as well as consolidated service lines and created operational efficiencies. Ogonoski has significant experience in physician integration and physician group management, working in both industry and faculty practice plans.
“Tim’s expertise in physician integration, service line planning and operational consulting is critical for clients as the industry continues to consolidate. With the trends indicating declining volumes, organizations must decrease costs in every area and streamline services,” says David M. Shade, President and CEO of Prism.
Prior to joining Prism, Ogonoski was Managing Director for a public healthcare consulting company and Managing Partner at AsquaredM Partners. He also has corporate experience as Vice President of Business Solutions at GE Healthcare (formerly IDX) and a Senior Engineer at Boeing. For more than nine years, he worked in health care administration at two systems, Washington University Faculty Practice Plan and BJC Healthcare.
Ogonoski holds a bachelor’s degree in Industrial Engineering with a minor in Mathematics from Southern Illinois University and an MBA, with Honors, from Southern Illinois.
CHICAGO – Prism Healthcare Partners LTD announced that Bonnie Barndt-Maglio, PhD, RN has joined the firm as Managing Director. Barndt-Maglio has 30 years of experience in the healthcare industry, with expertise in effective delivery of patient care, resource management, operations and planning. She has a strong clinical and operations background, having held administrative and clinical positions in several healthcare organizations.
At Prism, Barndt-Maglio will assist healthcare organizations in delivering quality patient care through efficient and effective clinical utilization and alignment. Based in Washington, D.C., Barndt-Maglio will continue her focus on clinical operations and workforce strategic planning.
“The shifts in the industry from in-patient to out-patient care, population health management and value based purchasing are challenging healthcare organizations to redesign care delivery models and use the most effective and cost effective care provider,” said Dr. Barndt-Maglio. “The most successful organizations will foster a clinical team capable of meeting the challenges of a rapidly evolving environment, and Bonnie’s deep expertise is a valued asset for any client,” said Mr. Shade, the President and CEO of Prism.
Prior to joining Prism, Barndt-Maglio had been a Vice President of the Camden Group, a healthcare management and consulting firm, since 2009. She also served as a consultant for Wellspring Partners. Her operational experience includes serving as a Vice President of Clinical Services in Silver Spring Maryland, Director of Georgetown University Hospital in Washington, DC, and as an Assistant Vice President of the Children’s Medical Center in Dayton Ohio.
Barndt-Maglio received her bachelor’s degree in Nursing from the University of Wisconsin-Milwaukee, a master’s degree in Nursing from the University of Illinois at Chicago and a doctorate in Health Administration from George Mason University.
CHICAGO – Prism Healthcare Partners LTD named Mukesh Gangwal a Managing Partner of the healthcare consulting firm. Prism has rapidly grown to serve the needs of hospitals nationwide with improving clinical, financial and operational performance. According to David M. Shade, President and CEO of Prism, “Mukesh Gangwal was a natural fit for Prism given his expertise in large-scale performance improvement projects and leading senior experts through transformational change.”
Gangwal brings 27 years of healthcare consulting experience. Under his leadership, health systems have typically delivered millions in annual recurring benefits. “In an environment of unprecedented change for healthcare providers, the need to be efficient and effective is not a matter of choice — it’s a mandate. I want to help clients face these challenges and deliver measurable, sustainable improvements in financial and operational performance,” said Gangwal.
Before he joined Prism, Gangwal, 56, was a managing director at a large publicly held consulting company. He also served as an executive at Arthur Andersen and Bearing Point. Gangwal received a bachelor’s degree from Calcutta University and an MBA from Northwestern University.
CHICAGO – Prism Healthcare Partners LTD is expanding immediately after launching in January. Bradley K. Fetters is joining Prism as Partner and will lead the Cost Management services for hospital and health systems. Mr. Fetters is a nationally recognized expert in Workforce Management and Optimization with more than 20 years of experience in optimizing hospital operations.
“As the industry experiences transformational change, there are new and emerging opportunities in both not-for-profit and for-profit hospitals to drive efficiencies, manage costs and sustain improvements beyond traditional measures,” says Mr. Fetters. At Prism, Mr. Fetters will be helping build a new Analytics Center that will help hospitals manage information and produce sustainability of performance improvements well beyond other solutions in the industry.
Prior to Prism, Mr. Fetters served as a Managing Director for a national healthcare consulting company and an executive for Tenet Healthcare where he led the Performance Improvement and Innovation department. While at Tenet, he helped support the mission of the organization to improve performance of the 100+ hospitals in the Tenet portfolio. Mr. Fetters also served Cardinal Health and i2 Technology in executive roles.