CHICAGO, April 16, 2020 /PRNewswire/ -- Today, Kaufman Hall, a leading provider of healthcare strategic financial planning and other consulting solutions, and Hagerty Consulting, an emergency management and homeland security consulting firm, announced a partnership to help healthcare organizations understand the financial impact of the COVID-19 pandemic and implement disaster cost recovery strategies. This new partnership brings together Kaufman Hall's expertise in healthcare strategic financial planning with Hagerty's leading long-term disaster cost recovery consulting capabilities into a single, comprehensive solution for US healthcare providers.
"Never have hospitals had to manage through the level of financial disruption we are experiencing from the COVID-19 virus. Hospitals are spending huge amounts of unbudgeted dollars on crisis care while, at the same time, experiencing unprecedented reductions in revenue from canceled procedures," said Ken Kaufman, co-founder and chair of Kaufman Hall. "To recover from this destabilization, healthcare leaders need to determine the extent of the financial damage done to their healthcare organization, establish a long-term financial recovery plan, and begin the complex process of securing funding from government agencies and other sources as they develop. Kaufman Hall is privileged to be collaborating with Hagerty, a firm with an excellent reputation and remarkable experience in emergency management consulting."
The strategic partnership between Kaufman Hall and Hagerty will bring to bear the expertise of two of the industry's leading consulting firms with a specialized approach to each hospital's individual financial planning and recovery needs.
Kaufman Hall's integrated strategic financial planning capabilities have been used for more than 30 years by leading healthcare providers across the country. The firm will apply its deep financial expertise with its comprehensive, real-time, financial and operational data to help healthcare providers model financial and strategic scenarios and assist in the development of a strategic financial recovery plan.
Hagerty, through its 20 years of expertise in disaster preparedness and recovery services, will help healthcare providers understand, identify, strategically apply, and manage disaster recovery funding from multiple sources.
"Not since 9/11 has this country faced as great a national emergency," said Steve Hagerty, President and Founder of Hagerty Consulting, and the primary financial consultant to the Federal Recovery Officer after 9/11. "This time it's our hospital and healthcare workers who are on the front lines trying to save lives at any expense. Together with Kaufman Hall we offer a distinct solution to hospitals around the country – a team that can assess the profound financial impacts COVID-19 will have on health care systems, identify short and long-term funding solutions, and help health systems advocate, obtain, apply, and strategically manage billions in federal funds under the CARES Act."
Healthcare leaders interested in learning more about this new integrated service offering from Kaufman Hall and Hagerty Consulting, please email Kate Guelich, managing director, Strategic Financial Planning Practice leader, at [email protected].
About Kaufman Hall
Kaufman Hall provides a unique combination of software, management consulting, and data solutions to help society's foundational institutions realize sustained success amid changing market conditions. Since 1985, Kaufman Hall has been a trusted advisor to boards and executive management teams, helping them incorporate proven methods, rigorous analytics and industry-leading solutions into their strategic planning and financial management processes, with a focus on achieving their most challenging goals.
Kaufman Hall services use a rigorous, disciplined, and structured approach that is based on the principles of corporate finance. The breadth and integration of Kaufman Hall advisory services are unparalleled, encompassing strategy; financial and capital planning; cost transformation; treasury and capital markets management; and mergers, acquisitions, partnerships, and joint ventures.
Kaufman Hall software includes the Axiom Software Suite, providing sophisticated, flexible performance management solutions that empower finance professionals to analyze results, model the future, and optimize organizational decision making. Solutions for long-range planning, budgeting and forecasting, performance reporting, capital planning, and cost accounting deliver decision support, reporting, and analytics within an integrated software platform. Kaufman Hall's Clinical Analytics empower healthcare organizations with clinical benchmarks, data, and analytics to provide a higher quality of care for optimized performance and improved patient outcomes.
About Hagerty Consulting
Hagerty Consulting is an emergency management consulting firm that helps clients prepare for, respond to, and recover from disasters. Experts in federal disaster programs, including FEMA Public Assistance, Hazard Mitigation, and Community Disaster Loans, as well as HUD Community Development Block Grant (CDBG-DR) and Congressionally established programs, Hagerty has helped clients successfully secure and manage more than $30B in federal funding after 9/11, the California Fires, Hurricanes Katrina, Sandy, Harvey, and Michael, and dozens of other major disasters. The firm works closely with local and state governments, schools, hospitals, religious, and non-profit organizations across the United States to ensure they get all the federal funding they are entitled to under these complex federal programs.
Established in 2001, Hagerty Consulting has grown to become one of the nation's leading emergency management and homeland security firms recognized for its expertise, client results, quality of work, management, collaboration, integrity, and thought leadership.
Amendola Communications (for Kaufman Hall)
Email: [email protected]
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SOURCE Kaufman Hall