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Why the need for a group that focuses on distressed health care:
The United States health care industry is in a state of distress stemming from the challenges created by an ever-increasing regulatory compliance burden, changes in reimbursement rates, uncertainty with the Affordable Care Act, and mounting tort and employment litigation. The recent growth of urgent care centers and retail clinics, as well as technological advances and telemedicine, has changed the nature of health care services. Consequently, these changes have put greater pressure on providers to compete and have altered the economics of health care delivery. Every participant in the health care industry—hospitals (large, small, rural, profit or non-profit), physicians and dentists, behavioral health, skilled nursing, home health and senior living providers, pharmaceutical distributors, diagnostic labs, durable medical equipment suppliers—has been or will undoubtedly be affected by these changes.
In response, Dickinson Wright has created a Distressed Health Care Restructuring Group (“DHR”), which combines the experience of its health care and restructuring/bankruptcy attorneys to advise clients on how to address challenges resulting from this changing health care environment and the most efficient ways to achieve and maintain ongoing financial viability.
Whether counseling health care providers, practice groups, investors or lenders, our attorneys focus on business solutions and strategies because we recognize and understand the spectrum of regulations and patient concerns that apply and impact the health care industry. The question is, how can you obtain the best outcome for your business in this challenging time? We believe the answer lies in having seasoned professionals with specific knowledge of health care issues and turnaround opportunities. Dickinson Wright’s DHR Group has the depth and breadth of knowledge and experience to help you in every aspect of health care and its troubling issues.
What sets us apart:
Experience and more. Our DHR Group includes experienced professionals in the areas of health care, bankruptcy, restructuring, and insolvency, finance, real estate, regulatory, litigation and tax. These lawyers, who work in conjunction with our colleagues in Dickinson Wright offices across the country, have extensive experience in health care turnarounds and restructurings, bankruptcy sales, mergers and acquisitions, health care related lending, issues related to leases, real estate, and all related regulatory and compliance matters including government relations.
One of Dickinson Wright’s major strengths is in the compliance arena. We have found that half of the troubled companies we encounter got there because of a failure to comply with the massive number of regulations that affect virtually all health care participants. Our DHR Group recognizes that addressing compliance issues is a principal component to revitalizing operations.
In addition, Dickinson Wright also has something most firms don’t have—our own health care business and financial advisor. We partner with Crux Strategies™ to bring clients immediate and comprehensive business and financial data analysis that is the heart of decision making for every health care-related business.
The ability of our clients to analyze and act on current data is key. Crux Strategies™ recognizes that a “strategy” without actionable supporting data is just an opinion – not a solution. This is why Crux Strategies™ built the Aurum™ database. The Aurum™ database, built on over 30 million claims, contains the financial metrics for every US hospital, ambulatory surgery center, specialty physician practice, and post-acute care facility. By using weekly updated metrics in the Aurum™ database as a foundation for data driven support of the financial and operational analysis of health care companies facing financial challenges and the management, political and legal experience of Crux's staff, our clients can chart a course back to financial viability.
Carefully designed solutions equal customized results:
Our DHR Group thinks like a business person — through both financial and legal analysis, we help clients identify the real issues and implement the right solutions.
Each health care client has its own unique mission –
These are just a few of the very real issues that currently confront health care entities. Dickinson Wright’s DHR Group offers the right experience and supporting information to address these issues and any others you may encounter.
What we have done in the past equips us for the future:
The following descriptions are just a sampling of the previous representations that demonstrate the breadth of experience within the Dickinson Wright DHR Group:
Hospitals, Physician Groups, Clinics
Creditors and Committees
Lenders and Lessors
Business, Financial and Turnaround