New company spun out of Healthcare Management Partners and partnered with Pathway Health; HMP Senior Solutions to be led by veteran healthcare executive Don Bivacca
Healthcare Management Partners (HMP) has launched HMP Senior Solutions, a company committed to operating senior care facilities.
The new entity, a subsidiary of HMP –a leading healthcare turnaround and consulting firm -, will focus on helping senior care facilities manage new and expected challenges in 2020 and beyond. HMP Senior Solutions will be led by Don Bivacca, who has more than 30 years of experience driving successful operation of healthcare organizations.
"Disruption is coming, and senior care facilities need to transform their operations in response," said Bivacca. "HMP Senior Solutions has built a dedicated team with executive level experience necessary to chart these new challenges and drive senior care facilities to success, not only for today but well into the future."
"Ultimately, we are focused to help protect client assets and increase valuation, improve quality and stabilize the staff while protecting the residents," added Bivacca, who has held senior level leadership positions with companies that have led the healthcare industry during his extensive career.
Supporting Bivacca will be an extensive network of experienced operators with healthcare expertise across the continuum of care (Hospital, SNF, ALF, IL, Home Health, and Hospice).
HMP Senior Solutions will manage senior care facilities, with a focus on senior housing including assisted living facilities and skilled nursing facilities. Broadly, service offerings include:
- Accounting and administrative support
- Asset management services
- Clinical oversight and management
- Response and remediation to regulatory visits
- Marketing and sales support
- Executive leadership and oversight
- Financial and operational analysis
- Leadership recruitment and mentoring
- Technical assistance and software implementation
- Capital improvement management
- Vendor relations and contracting
- Human resources including benefits and payroll
HMP Senior Solutions experts have regularly utilized these services in wide variety of engagements at HMP and elsewhere, which are featured within here within HMP Senior Solutions website.
Additionally, previous successful engagements by HMP led to its decision to start HMP Senior Solutions are featured here within HMP Senior Solutions website.
HMP Senior Solutions has chosen to partner with Pathway Health, a professional management and consulting organization serving clients in the long-term and post-acute care industry. This partnership will allow HMP Senior Solutions to provide highly tailored offerings to REITs, banks, HUD, and private equity groups. These offerings will include comprehensive support, including managing financial reporting and auditing, as well as implementing processes to ensure regulatory compliance.
Industry challenges will loom large for the foreseeable future as policies like Payment Driven Payment Model are introduced concurrently with the senior aging apex getting closer, Bivacca notes regarding the timing of the launch of HMP Senior Solutions. The last baby boomer will turn 65 by 2029 and by 2035 the elderly population will outnumber children for the first time in U.S. history.
Bivacca adds, "To meet the long-term needs of the baby boomers, social and public policy changes must begin soon. The industry will have to adjust to new regulatory oversight and payment mechanisms. With these challenges come opportunities for entrepreneurs and operators, which HMP Senior Solutions will be dedicated to providing."
For more information on HMP Senior Solutions, visit: hcmpllc.com/hmp-senior-solutions/.