AHIMA, a nonprofit whose mission is to ensure that health information is accurate, complete, and available to patients and providers, had a big idea: To expand by buying a for-profit business.
The acquisition target, HCPro, was an industry leader in integrated information, education, training, and consulting products and services in healthcare compliance and revenue cycle management.
The combination, AHIMA CEO Amy Mosser believed, would broaden the reach of both organizations.
But, first came the challenge of the acquisition process – performing due diligence, planning for the integration, and setting a course for the future.
To do that, she needed help in three key areas: financial due diligence, workforce integration planning, and content licensing.
Mosser turned to InterimExecs. Within a day, she had the names of RED Team members with the expertise she needed. In three days, she had talked with each of them. In five days, the interim executives were on the job.
Here’s how she describes the process:
During the interview, Mosser said, “It’s something I have not done before. But I can tell you that if I went through this again, I would get people during the due diligence and have them stay afterward because they know so much more and you don’t have to catch anybody up.”
How AHIMA-HCPro Acquisition Worked
Here’s how the process went:
AHIMA decided to grow by acquiring a for-profit firm that specialized in integrated information, education, training, and consulting products and services in healthcare compliance and revenue cycle management. HCPro employed 100 people.
It was clear that the nonprofit needed additional expertise to work through the merger and acquisition process. Mosser, who had worked with InterimExecs in the past, called us.
In a day, she had combed through our list of thousands of vetted executives to identify people with the skills AHIMA needed.
In three days, Mosser had talked with and chosen three interim executives:
- An interim CFO who would join the acquisition negotiations and oversee due diligence.
- An interim CHRO who would develop the plan for integrating systems and moving 100 employees the day the deal closed.
- A former general manager for the New York Times with expertise in content licensing playbook AHIMA would need to capitalize on the acquisition post-merger.
Work didn’t stop after the deal closed. They needed to upgrade 300 systems along with the financial reporting, balance sheet, and P+L. She found that expertise in the interim CFO with extensive experience at public companies.
Interim Executive Leadership Matters
In addition, the interim executives served as mentors to the association staff, who were “open and happy to learn from these people,” Mosser says.
In all, the AHIMA/HCPro merger is a prime example of how InterimExecs RED Team can be deployed to help organizations reach big, ambitious goals.
“That is the whole thing that is so unique about the RED team focus,” Mosser says. “The more specific understanding of the need, you have such a cadre of individuals in the InterimExecs pool that you can line up a subset of people that are close to what we need, then the client – myself — talks to them and decides.”
If you’re in need of help to reach your organization’s big ambitious goals, contact InterimExecs today for a confidential consultation about how a RED Team member can help.