Grassi Healthcare Advisors and PYA Develop Suite of Data-Driven Strategic Services for Distressed Nursing Facilities
Grassi Healthcare Advisors (GHA) and PYA have launched Calibrated PerformanceTM, 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, given the urgent needs of post-acute, skilled nursing (SNF), and senior care facilities in the wake of the COVID-19 pandemic, GHA and PYA 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 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.
“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, GHA CEO. “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.”
“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 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.”
With Calibrated Performance, GHA and PYA 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 GHA and PYA, Calibrated Performance is driven by both firms’ decades of healthcare strategy, operational, and financial performance experience, coupled with contemporary data utilization.