Executive Sounding Board Associates, Inc -- Services

Services

Services

Health Care

The health care delivery system in the United States is undergoing a period of rapid structural change. While the health care technology available here is the most advanced in the world, the mechanisms and procedures to pay for that technology are in turmoil. There are two primary factors that have altered the financial condition of many health care providers. The Medicare program, by far the largest single payer of health care service, has cut back its reimbursements while at the same time changing the basis upon which reimbursement is determined – from cost - based to market-based. Hospitals, home health care agencies, rehabilitation companies, and an array of other health care providers have seen their Medicare reimbursements decreased dramatically. Managed care entities – HMO's, PPO's and the like – have gained bargaining power and changed the market equation. These entities have negotiated vigorously and often pay claims more slowly than in the past.

These factors have had a tremendous impact on the cash flow of health care providers, and have created a "domino" effect throughout all parts of the health care delivery system, leaving no aspect of health care unscathed.

ESBA has worked with a variety of health care related companies to help them deal with these problems and issues. Some of these organizations include:

An out-patient rehabilitation facility,
A generic pharmaceutical manufacturer,
A distributor of both ethical and over-the-counter drugs,
A clinical laboratory equipment manufacturer,
A non-profit hospital that had been acquired by a large hospital system,
The unsecured creditors' committee of a bankrupt hospital system,
A provider of outsourcing services for hospital medical records departments, and
A number of companies whose products and/or services are in large measure sold to customers who provide health care services.

In some instances successful completion of a case requires that we supplement our own experience in health care with specific industry knowledge unique to the situation. Since health care is a complex arena, where necessary we will utilize expertise from outside our own organization to strengthen our ability to provide effective service for our clients.

In addition, ESBA has also developed partnering arrangements with other professional organizations to meet the needs of its health care clients. ESBA’s organizational partners include: a major Law Firm whose expertise includes departments in health care law and bankruptcy law; and a Health Care Lender with focus upon equipment leasing and working capital lending – including Debtor In Possession financing.