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American Association for Physician Leadership
American Association for Physician Leadership

Practice Acquisition in an Underserved Market: Planning, Implementation, and Challenges

by Tara Haskell, MBA, MHSA | Rebecca Hobing, MBA | Kelly Kleier, MBA, MHSA | Danielle Poe, BSN, CPN | Chris Statile, MD | Michelle Hudgens, MBA | Mark McDonald, MA

June 8, 2020


Summary:

This article explores the many complexities and challenges faced when collaborating across 26 administrative departments to successfully plan and implement a multifaceted practice acquisition.



Abstract:

A private practitioner independently provided cardiac care to patients in five underserved counties for 30 years. Faced with impending retirement, this practitioner was concerned with his patients’ future care and the already unmet community need. Discussions were initiated with the Heart Institute at Cincinnati Children’s Hospital Medical Center (CCHMC) to determine the feasibility of selling the practice to CCHMC. As the discussions progressed, it became clear that the acquisition reflected CCHMC’s community-oriented mission and provided a robust and favorable business case. Consequently, the practice was acquired, and a localized strategy was developed to provide continuity of care close to home, invest in technology, increase clinic capacity, and expand care to additional underserved counties regionally via partnerships and telehealth. This article explores the many complexities and challenges faced when collaborating across 26 administrative departments to successfully plan and implement a multifaceted practice acquisition.


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Tara Haskell, MBA, MHSA

Business Development Manager, Cincinnati Children’s Hospital Medical Center




Rebecca Hobing, MBA

Senior Financial Analyst, Cincinnati Children’s Hospital Medical Center


Kelly Kleier, MBA, MHSA

Business Manager, Outpatient Cardiology, Cincinnati Children’s Hospital Medical Center


Danielle Poe, BSN, CPN

Cincinnati Children’s Hospital Medical Center




Chris Statile, MD

Cincinnati Children’s Hospital Medical Center


Michelle Hudgens, MBA

Business Director, Heart Institute, Cincinnati Children’s Hospital Medical Center


Mark McDonald, MA

Vice President, Heart Institute, Cincinnati Children’s Hospital Medical Center

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