PYA and Grassi Healthcare Advisors offer nursing homes and other skilled nursing facilities a data-driven, comprehensive resource and success planning solution to help them regain financial and operational footing amidst growing industry hardship.
PYA and Grassi Healthcare Advisors (GHA) have launched Calibrated Performance™, a service line designed to help healthcare providers respond to challenges caused by COVID-19 and other economic stressors. While any provider may benefit from Calibrated Performance services, given the urgent needs of post-acute, skilled nursing (SNF), and senior care facilities in the wake of the COVID-19 pandemic, PYA and GHA are first launching Calibrated Performance for SNFs.
Calibrated Performance is a comprehensive suite of advisory solutions that uses data analytics and industry best practices to help providers identify inefficiencies and achieve their organizational goals. Powered by data, technology, and healthcare expertise, these services include operational and financial assessments, benchmarking, business intelligence tools, revenue cycle support, cost containment, and cash management plans.
“Even before the COVID-19 pandemic, SNFs were facing varying levels of financial difficulty,” said PYA Managing Principal of Consulting Services David McMillan. “But a recent industry report shows that many SNFs may now be on the verge of financial collapse. We recognize the dire need to assist SNFs to address these concerns in a comprehensive, strategically informed manner. Calibrated Performance sets forth an actionable plan, informed by data—but not blindly led by data, to help these organizations regain stability.”
“Our combined team brings the full resources of clinical, operational, financial, and strategic expertise to assist our clients through this challenging period,” added Joseph Tomaino, CEO of Grassi Healthcare Advisors. “With internal resources stretched so thin, we can offer the guidance and support needed to put an organization back on the right path and keep it moving forward.”
With Calibrated Performance, PYA and GHA work with SNFs and other healthcare providers to create customized Success Plans—sequential 12-week action plans—with a goal of improving financial and operational health. The plans follow a three-pronged approach:
- Resource utilization through cash management and cost efficiencies
- Value realization through optimized revenue streams
- Capital rationalization through strategic realignment and effective use of existing/new funding sources
An exclusive offering of PYA and GHA, Calibrated Performance is driven by both firms’ decades of healthcare strategy, operational, and financial performance experience, coupled with contemporary data utilization.