Surviving Mergers A Guide for Healthcare HR Elliot Clark Bonnie Britton Keith Minnis Vice President CEO Regional National SharedXpertise Vice President Accounts & HRO Today Human Resources AMN Healthcare Ascension 1 #HealthcareWorkforceWebinar #HealthcareWorkforceWebinar
Stay Engaged! Q&A at the end, but feel free to submit questions throughout the presentation via the questions box on the sidebar Tweet using hashtag #HealthcareWorkforceWebinar Recording will be distributed via email afterwards 2 #HealthcareWorkforceWebinar #HealthcareWorkforceWebinar
Anatomy of a Merger A. Somebody is always buying Somebody B. There is always a Buyer and a Seller C. There are many complex issues to resolve, including the potential for political conflicts between the legacy teams D. These issues and conflicts can distract from the daily execution of Staffing 3 #HealthcareWorkforceWebinar
Polling Question Have you ever been a part of a M&A during your professional career? #HealthcareWorkforceWebinar 4
Consolidation can Make Workforce Problems Worse Merger of two Mergers must companies with integrate divergent existing workforce cultures, standards, problems can mean procedures, practices, double the problem. training, values. 5 #HealthcareWorkforceWebinar
Is a Merger On The Horizon • The healthcare sector contributed 58% of the year's combined 1,307 M&A deals • 63% of healthcare organizations surveyed planned to be the buyers in a M&A transaction. • 54% of working professionals feel uneasy when their organization is considering a M&A. • 47% of organizations surveyed considered using a Managed Service Provider during a M&A transaction. *Percentages supported by recent industry consolidation survey performed by KPMG and Becker's Hospital Review. 6 #HealthcareWorkforceWebinar #HealthcareWorkforceWebinar
The Psychology of a Merger • Decisions must be made on which legacy team elements will remain • This can cause anxiety among the staff • Distractions can lead to failures in execution 7 #HealthcareWorkforceWebinar
The Path Forward Managing the Managing Merger Culture Clash Syndrome Managing the Transition #HealthcareWorkforceWebinar 8
Designing For The Future Partnering with a Managed Service Provider #HealthcareWorkforceWebinar 9
Benefits of a Third Party Perspective • Frequently, there are best practices to be extracted from both legacy teams • Tools, Technology, etc. • Third Parties have an “unbiased” perspective • Third parties service developers will not be distracted by internal policies #HealthcareWorkforceWebinar 10
Workforce Expertise Found Outside Health Systems Workforce solutions partners with advanced technological tools: • Technology-enabled MSP & VMS • 21 st century talent sourcing • Predictive labor analytics • Coding & HIM • Revenue cycle solutions • Cloud-based credentialing #HealthcareWorkforceWebinar 11 #HealthcareWorkforceWebinar
Labor Economies of Scale Don’t Apply in Healthcare Consolidation Clinical workforces are stretched very thin due to high demand & shortages Mergers won ’ t affect long-range drivers of demand and shortages #HealthcareWorkforceWebinar #HealthcareWorkforceWebinar 12
Workforce Issues During and After Consolidation Workforce Challenges to Address: Strategic workforce planning and sourcing Management of core and contingent staff Recruitment, placement and credentialing Scheduling and staffing Standardization of best practices Leadership succession planning Coding and health information management Mid-revenue cycle management #HealthcareWorkforceWebinar 13
Surviving a Merger Managing the Merger Syndrome Managing the Culture Clash Focus on performance, not politics Managing the Transition Rely on partners to drive consensus and opportunities to maximize revenue (particularly acute care) #HealthcareWorkforceWebinar 14
Q&A #HealthcareWorkforceWebinar 15 #HealthcareWorkforceWebinar
Download the whitepaper: http://bit.ly/AMNWhitepaper Elliot Clark Keith Minnis Bonnie Britton CEO Regional Vice President, Vice President, National SharedXpertise Human Resources Accounts & HRO Today Ascension AMN Healthcare @HROToday http://bit.ly/KeithMi @AMNHealthcare nnis #HealthcareWorkforceWebinar 16 #HealthcareWorkforceWebinar
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