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View All ProductsWe understand the critical importance of earning and maintaining your patients' trust in the delivery of exceptional sedation and surgical outcomes. As a premier provider of healthcare education, we are committed to empowering you in promoting safer, more successful outcomes for each and every patient, without exception.
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Learn MoreBecause the trend toward consolidation through mergers and acquisitions is expected to remain strong, we wanted to understand the impact these deals have on a medical staff office (MSO), and more specifically how the combination of two or more privileging and credentialing processes can best be managed.
To shed some light on this topic, we reached out to Renee Aird Dengler, a senior consultant at Morrisey, A HealthStream Company. Prior to her work at Morrisey, Dengler was director of medical and professional affairs for Advocate Health Care, where she had responsibility for credentialing policy and management of the system’s 12-hospital credentialing verification office (CVO). During her time at the Chicago-area health system, Dengler was deeply involved in the acquisition of six hospitals and the integration of their medical staff offices, which taught her valuable lessons about what to do and what not to do. The topic is complicated enough, regardless of who is merging with whom, or who is acquiring whom. Add to it the complexity of merging databases and reconciling credentialing policies, processes, and people, and you quickly realize a master plan is critical.
Due Diligence: How Are We the Same and How are We Different?
A letter of intent signifies that one party is willing to buy and the other is willing to sell. During this time, contact and communication between the parties is highly regulated by the FTC and other legal and regulatory authorities. While no contact can be made between parties, this is the time that Dengler recommends organizations find out all they can about the potential new partner. An early fact-finding mission will help identify issues that could be potential deal-breakers.
Due Diligence Principles
Due diligence is a way of preventing unnecessary harm to either party involved in a transaction.
Negotiate about the Specifics
Due diligence from a legal standpoint can only go so far. But as negotiations progress, both parties are eventually allowed to meet and talk specifics. This is where you learn “the rest of the story.” While the larger transition team is looking for pending lawsuits, debt that has as yet been undisclosed, or other details material to the transaction, the CVO can begin reviewing the following:
Is Everything Documented?
This is also the first opportunity for the CVO transition team to begin looking for things that may not be documented, such as:
The CVO transition team’s primary responsibility during this phase is to identify any real or potential issues that will need to be resolved, and to make the larger transition team aware of any potential problems. Dengler warns “leaving no stone unturned and no question unanswered at this stage is the best way to prevent heartache later in the relationship.”
This post is taken from the Fall 2017 HealthStream Provider Advisor. Download the full issue here.
HealthStream’s learning management system and comprehensive suite of competency management tools empower your healthcare workforce to deliver the best patient care.
View All Learning & PerformanceHealthStream offers performance learning management solutions to help develop your healthcare staff into leaders and reduce turnover.
View All ProductsHealthStream works with healthcare organizations to create engaging and high-quality training videos for your staff and management.
View All ProductsImprove care quality and save money by making informed decisions about your healthcare facility and staff with HealthStream's reporting analytics solution.
View All ProductsHealthStream's proven methods for the improvement and overall engagement of your healthcare staff foster a positive workplace and increase retention rates.
View All ProductsWhen you enact HealthStream's quality compliance solutions, you can do so with the confidence your healthcare organization will meet all standards of care.
View All Quality & ComplianceBe confident in your staff’s ability to reduce risk by providing compliance training that changes behavior.
View All ProductsDevelop next-level people for next-level care by prioritizing quality and safety improvements.
View All ProductsStandardize policy and procedure management with an automated, customized, and centralized system.
View All ProductsEstablish a culture of belonging with education supporting DEI, wellness, engagement, and leadership development.
View All ProductsHealthStream offers professional training and education on how to best optimize your reimbursement process within your healthcare organization.
View All ReimbursementStreamline the revenue cycle management process and protect your bottom line with expert-backed education.
View All ProductsExpand the decision-making skills and effectiveness of your healthcare workforce with HealthStream's clinical development programs and services.
View All Clinical DevelopmentLearn about our advanced resuscitation training solutions. Our solutions are designed to help improve patient outcomes.
View All ProductsUnlocking the full potential of clinicians goes beyond aspiration – it’s a commitment we embody. Our competency development solutions help personalize learning for every clinician so you can confidently bridge the gap between theory and practice for your nurse residents while meeting the unique development needs of your seasoned clinician.
View All ProductsEnhance maternal & child nursing care with solutions focused on improving the quality of care for mothers, infants, and children.
View All ProductsAddress staffing challenges, standardize orientation and onboarding, and deliver an effective training program for your team to easily achieve and maintain certification with our critical, emergency, and acute care solutions.
View All ProductsWe understand the critical importance of earning and maintaining your patients' trust in the delivery of exceptional sedation and surgical outcomes. As a premier provider of healthcare education, we are committed to empowering you in promoting safer, more successful outcomes for each and every patient, without exception.
View All ProductsOur solutions are meticulously designed to cater to the diverse needs of patients, healthcare professionals, and organizations. Within this innovative framework, we have curated specialized subsets of solutions aimed at addressing the ever-evolving challenges faced by individuals dealing with illnesses or chronic conditions.
View All ProductsMake sure your healthcare staff can schedule out appointments and work schedules with ease using HealthStream's line of software solutions.
View All SchedulingHealthcare workforce management is essential. We provide advanced scheduling solutions for organizations to solve issues such as nurse retention
View All ProductsComprehensive, industry-leading provider onboarding and credentialing software that validate health outcomes and support provider assessment.
View All CredentialingOur affordable CVO credentialing services establish patient safety by enabling primary source verification for your healthcare organization.
View All ProductsIntegrate with Epic to validate and add new providers directly to your provider master file.
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