Coffee with Coker

Frances Dare joins Aimee Greeter to discuss healthcare mergers and acquisitions and why the majority of these transactions fail to deliver the intended outcomes. Frances and Aimee explore the success rate of mergers and acquisitions as well as the factors to consider to improve the success rate.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or about issues that interest you. You can also recommend topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

Episode Synopsis

Frances and Aimee explore why the research (and their experience) shows more than 70% of change initiatives fail to deliver the intended outcomes. Behind this is a failure to fully consider the psychology of human systems and a belief that people respond to change rationally.

Their discussion explores the human experience of change and reasons people both fear and seek it out. They consider the ways in which the unconscious can shape responses to change and focus on ways organizations can effectively engage employees and how leaders can support the change process. With healthcare M&A activity predicted to continue at pace and other change drivers at play, a deeper understanding of human responses to change can help healthcare organizations more effectively navigate turbulent times.

Extras

How to Be Better at M&A Marriage

Post-Merger Integration Strategy Starts Early

Strategic Variables in Private Equity Transactions

Jeffery Daigrepont and Dan Stewart join Mark to discuss healthcare information technology (HCIT) and the current state of cybersecurity for the healthcare industry. Jeffery and Dan describe the cybersecurity landscape in healthcare, why cybercriminals are targeting healthcare providers, and the importance of security risk assessments and security programs.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or about issues that interest you. You can also recommend topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

Episode Synopsis

Jeffery and Dan cover ten questions about healthcare cybersecurity and security risk assessments for healthcare providers.

1. What is the current state of cybersecurity in the healthcare industry?
2. Why is healthcare so attractive to cybercriminals?
3. What are the top cybersecurity threats in healthcare?
4. What is the real cost of a data breach in healthcare?
5. What are the primary obstacles for a provider to develop and maintain an adequate security program?
6. Where should healthcare providers start? On what key areas should they focus?
7. Why is it essential to have a strategy at the boardroom level to succeed in achieving a high-level cybersecurity program?
8. How do providers protect their critical assets as cyber threats continue to evolve?
9. What does an organization do when a data breach occurs?
10. When does it make sense for an organization to use a managed services approach to cybersecurity?

Cybersecurity Extras

What is Your Battle Plan to Fight Cybercrime?

Podcast: How to Adopt Cybersecurity Best Practices

Blog: Five Tips to Keep Your Data Safe

Blog: 3 Critical Elements for Building an Effective Human Firewall

Brandt Jewell joins Mark to discuss private equity (PE) deals for healthcare entities and the operational considerations PE firms and medical groups alike should consider during the transaction. Brandt and Mark identify opportunities to discuss during due diligence, medical group optimization opportunities after the deal is complete, and the critical characteristics of attractive provider groups.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or about issues that interest you. You can also recommend topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

Episode Synopsis

Brandt and Mark review how to identify opportunities during the due diligence phase of the transaction. The specialty or specialty mix of a medical group is a key decision factor when considering a PE deal because a financial return is the primary objective of that type of deal. They also discuss developing a consistent and scalable infrastructure, the pitfalls of aggregating physician operations, and continuing status quo operations after the agreement.

PE Deal Extras

Blog: Post-Merger Integration Strategy Starts Early

Blog: The Role of Management Services in Private Equity Transactions

Blog: Defining Private Equity Transactions in Healthcare and Understanding Deal Options for Medical Groups

Blog: Strategic Variables in Private Equity Transactions

Podcast: Episode 51: Forming a Management Services Organization

Podcast: Episode 34: Private Equity: The Next Stage in Physician Practice Transactions

Article: The Private Equity Model for Medical Group Transactions

Max Reiboldt and Aimee Greeter join Mark to discuss private equity deals for healthcare entities and how to approach a healthcare transaction strategically. Max, Aimee, and Mark consider how the governance of the deal and non-economic considerations during the due diligence period will affect the daily life of the providers involved.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or about issues that interest you. You can also recommend topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

Episode Synopsis

Why do so many transactions focus heavily on economic terms? The economics of any deal, especially the more attractive private equity deals, only affect one day of the providers involved within the deal. There are numerous non-economic factors that will continue to affect every day of the providers involved for years to come.

Max, Aimee, and Mark discuss the strategic, non-economic terms that should receive equal consideration before finalizing any healthcare transaction.

Extras

Blog: Strategic Variables in Private Equity Transactions

Podcast: Episode 51: Forming a Management Services Organization

Podcast: Episode 34: Private Equity: The Next Stage in Physician Practice Transactions

Article: The Private Equity Model for Medical Group Transactions

Dr. Stephanie Cross, Roz Cordini, and Michele Madison join Mark for a panel discussion on the healthcare industry. Mark moderates the conversation as Dr. Cross, Roz, and Michele outline current trends in the healthcare industry and how those trends will continue to evolve throughout 2020. The discussion focuses on rural health and access to healthcare, telemedicine, physician reimbursement, and the opioid crisis.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or about issues that interest you. You can also recommend topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

About the Panelists

• Stephanie Cross is an assistant professor at the University of Tennessee and specializes in OB/GYN. Dr. Cross has been engaged as a part of the teaching faculty at UT and private practice throughout her career.
• Roz Cordini, JD, MSN, RN, CHC, CHPC, is a senior vice present and director of coding and compliance services at Coker Group. Ms. Cordini leads the coding and compliance service line, which focuses on Office of Inspector General program compliance, compliance effectiveness reviews, physician compensation governance procedures, and governance education. She provides advisory services to boards of directors regarding compliance, virtual compliance officer services, provider documentation and coding audits, and other compliance-related services.
• Michele Person Madison is a Partner in the Healthcare Practice of Morris, Manning, and Martin, LLP, where she provides general legal advice to health systems in various regulatory and business matters. Ms. Madison is highly experienced in managing legal issues arising in hospitals, physician offices, or integrated health systems, including employment, investigations, risk management assessment, and corporation management. Also, she provides legal education for health systems' medical staff, management team, and employees in these areas.

Anna Grizzle joins Mark to discuss the U.S. Court of Appeals for the Third Circuit False Claims Act (FCA) decision calling into question productivity-based physician compensation structures under the Stark Law. Mark interviews Anna to hear her perspective on the U.S. ex rel. Bookwalter v. UPMC and the Third Circuit's decision.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or about issues that interest you. You can also recommend topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

Episode Synopsis

The case involved employment arrangements between the medical center's subsidiary physician practice entities and neurosurgeons who performed procedures at affiliated hospitals. The Third Circuit's decision appears to call into question a common compensation methodology for physician professional services.

Continue reading: Inside the FCA: Third Circuit Holds Allegations of Improper Compensation Methodologies under the Stark Law Survive Motion to Dismiss

Extras

Bio: Anna Grizzle

Mark Reiboldt discusses frequently asked questions related to healthcare business valuations, private equity transactions in the healthcare industry, and the adoption of telehealth services.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or about issues that interest you. You can also recommend topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

Episode Synopsis

With private equity transactions on the rise, we are receiving more questions on the structure of these deals and the valuation of healthcare enterprises. Medical practices have no intangible value, as all of their profits are distributed to the physician owners and partners, and the fair market value of medical practices is limited to tangible assets.

Telehealth is another popular topic as enterprises try to understand how (or if) to incorporate these services into their practice. Telemedicine has seen a sharp increase throughout 2019 because government and commercial payers now provide fee-for-service reimbursement.

Extras

Podcast: Episode 42: What is Business Valuation and Why Would I Need One?

Podcast: Episode 41: Telehealth: Helping your Health System Move Forward

Blog: Will Providers be Reimbursed for Telehealth Services?

Podcast: Episode 34: Private Equity: The Next Stage in Physician Practice Transactions

Article: The Private Equity Model for Medical Group Transactions

Max Reiboldt joins Mark to discuss private equity deals for healthcare entities and how management services organizations create value. Max and Mark consider how the management services organization is valued, how the sale proceeds are distributed, and the different scenarios for determining and allocating the management fee.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or about issues that interest you. You can also recommend topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

Episode Synopsis

Private equity deals are a popular topic in the healthcare industry today. Many healthcare organizations are looking seriously at private equity options as an alternative to more traditional forms of hospital alignment or employment. Throughout 2019, many healthcare entities have seen success with the private equity option, and it seems like a good time for healthcare organizations to consider private equity alternatives.

Max and Mark discuss the various facets of private equity options, specifically about management services organizations.

Extras

Blog: Developing Management Services Organizations for Private Practices: The Newest Version of Strength in Numbers?

Podcast: Episode 34: Private Equity: The Next Stage in Physician Practice Transactions

Article: The Private Equity Model for Medical Group Transactions

Andy Sobczyk and Jeffery Daigrepont join Mark to discuss digital transformation and its application specifically to the healthcare industry. Andy and Jeffery discuss what technologies are currently changing or could potentially change the way healthcare is managed and delivered.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or about issues that interest you. You can also recommend topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

Episode Synopsis

As data quickly becomes the new currency, Andy, Jeffery, and Mark discuss how contemporary technologies are impacting the healthcare industry and how artificial intelligence could revolutionize the way physicians practice medicine. With the year 2020 fast approaching, they emphasize the need to consider (at the least) a digital strategy and understand how rapidly evolving technology could help your healthcare organization achieve cost savings, improve outcomes, and allow better access to healthcare.

Extras

White Paper: The Use and Ethics of Artificial Intelligence in Healthcare

Article: Doctor Alexa will see you now: Is Amazon primed to come to your rescue?

Blog: When is the Time to Switch your EHR?

Today's episode is an interview with Jeffery Daigrepont, a senior vice president in our Healthcare IT Services division, conducted with Jon-Michial Carter, Co-Founder and CEO of ChartSpan, and Angela Stokes, vice president of quality services. ChartSpan is a chronic care management company offering turnkey, fully managed care coordination programs for physician practices. Jeffery, Jon-Michial, and Angela discuss ChartSpan's mission to improve patient health outcomes through innovative and life-changing health technology solutions.

Contact Information

Subscribe to our feed in Apple Podcasts, Google Podcasts, Spotify, or your preferred podcast provider. Like what you hear? Leave a review! Not there? Let us know!

We welcome all feedback from our listeners. Please submit questions on any of the topics we discuss or questions about issues that interest you. You can also provide recommendations on topics for future episodes.

• Email us: [email protected]
• Connect with us on LinkedIn: Coker Group Company Page
• Follow us on Twitter: @cokergroup
• Follow us on Instagram: @cokergroup

Episode Synopsis

Jeffery, Jon-Michial, and Angela explain the need to focus on chronic care management and how this focus will move the needle to provide truly preventative healthcare. ChartSpan proactively engages patients to manage their healthcare and prevent patients from becoming high-utilizers of costly hospital services.

Extras

ChartSpan website

Contact ChartSpan