HCF Enhancement, LLC Art
Pellett, MBA – Principal
Improving
medical practice bottom lines
Through
strategic financial tools and results focused management
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Client and Business Relationships
Clients of HCF Enhancement, LLC and
contractual/consulting/employment engagements our principal, Art Pellett, had
before founding the firm as a legal corporation, are spread across a wide
cross-section of the healthcare industry.
Our list of clients ranges from market research and consulting groups to
multi-hospital systems and solo-practice physicians. The range of services performed is just as
wide. The common thread is added value.
Added-Value
Services Performed:
Statistical
Survey-based Market Research
Working with a respected market research firm and a national
marketing association, Mr. Pellett assisted with the development and deployment
of survey tools to assess market interest in new healthcare solutions,
community events and consumer products.
He has conducted client-directed research using a variety of market
research techniques including direct mail, mall intercepts, focus groups, and
telephone queries. From statistical
analysis of the data collected, he has uncovered new consumer patterns and
trends, as well as measured market size and quantified value.
Marketing
Proactively solicited business on behalf of employers and
clients to enhance market size and influence decision-makers in their choice of
products and services using a variety of marketing techniques including trade
shows, health fairs, direct-mail advertising, community outreach, etc.
Market Planning
Working with innumerable healthcare providers, provided due
diligence for the site selection, build-out and hands-on promotion consulting
of many new and transitioning medical practices
Software Development -
Hospital DRG Market Share/$ Value
Developed software tools to easily calculate market share
and assess value of DRGs for hospital administrative
end-users
Market Analysis
At the request of many clients, uncovered hidden market
trends including patient volume and third-party payer payment patterns,
quantified existing market value and untapped market potential, pin-pointed
patient sources, determined optimal locations business and advertising, etc.
Product Development,
Launch & Life-Cycle Management
Took client’s untested concept (mental picture) of a product
and converted it into a physical sample.
Upon approval, arranged for the production &
distribution to end-users. Managed
product through its life-cycle (training, product-support, etc.) following
distribution.
Business Writing
Authored and published - on recommendation of a former
member of President’s Counsel of Economic Advisors - white-paper on the
economics of a major industrial player’s ground-breaking ESOP sale to its
employees; Co-authored article on quantifying hospital value to rural
communities, for Business and Health Magazine; Edited marketing publication for
hospital network distribution; Publish monthly newsletter
Financial Analysis
Performed countless financial analyses - ranging from
determining gross insurance payer value, to developing tools to calculate pro
forma value of a
proposed HMO. Mr. Pellett specializes in
scenario-based “what-if” financial analysis.
Practice Valuations
Calculated practice valuations for clients of consulting
firm, two hospital networks, and several hospital administrator clients using
both Net Fixed Asset and Discounted Cash Flow valuation methodologies.
Financial Modeling
Created complex “what-if” financial models depicting
practice growth, used for new practice budgeting and network practice
development
Budget Forecasting
Created accurate, drill-down expense budget forecasts for
dozens of medical and dental practices throughout the
Paralegal Services
Simplified a voluminous million dollar, multi-insurer,
multi-provider healthcare claim for of an attorney seeking adjudication of
damages on behalf of his critically injured, elderly client
Network Practice
Management
Regional Manager or consultant with six medical practice
network companies (five hospital and one dental) in
the management of widely dispersed medical and dental practices throughout the
Interim Management for
MSO
Managed an out-of-state hospital-owned, multi-provider MSO
through an unexpected management transition
Multi-Physician
Expense Allocation Planning
Devised cost-accounting system for fair expense-allocation
in organization of dissimilar provider specialties, e.g., Family Practice,
General Surgery, Ophthalmology and Osteopathy
Expense Reviews
Participated in hundreds of
financial management reviews of medical and dental practices.
Devised systems for quantifying current results,
calculating financial variances, and forecasting future outcomes. These systems were then adopted by two or
more medical/dental practice networks for routine use by senior-management.
Net Income Guarantee
Computation, Benchmarking & Audit Services
Developed net income guarantee computation templates used
for auditing monthly performance, calculating net income guarantee payment
amounts, and disseminating same to hospital administrative customers for
ethical guarantee contract compliance; Developed a
template program based on guarantee program that provides easy-to-understand
benchmark reporting as a feedback mechanism to promote quality future
performance from new physician recruits.
Practice Spin-Off
Transition
Provided on-site consulting services as needed to a key,
west coast community clinic which was spinning off from its university-based
parent network into an independent, community-owned, not-for-profit model
Future Practice
Alternatives/Decision Analysis and Facilitation
Moderated a discussion to facilitate understanding among
partners of a high-profile specialty practice, regarding the financial
implications of changing its existing organizational model to a newer model
with additional partners and affiliations
Practice Financial
Overview & Recommendations
Developed, marketed and sold a template program that
educates physicians about their existing practices, their resources, and their
available alternatives so that they can make intelligent future business
decisions
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