Mergers & Acquisitions: Is Risk Management at the Table?
Track
:
Risk Financing
Program Code:
T-14
Date:
Tuesday, October 18, 2011
Time:
1:45 PM to 2:45 PM
EST
Location:
Mtg Room 125 AB
CO-PRESENTER
:
Teri Burthay, ARM, Insurance Manager, Allina Health System
Teri Burthay is the Insurance Manager who is currently responsible for insurance procurement for Allina Hospitals and Clinics, a Minnesota based healthcare system comprising of 11 hospitals, 80+ clinics, 15 community pharmacies and three ambulatory care centers.
Ms. Burthay is a risk professional with 20 years of experience in risk management including employee safety, claims management, risk financing and insurance procurement. Ms. Burthay holds an ARM designation.
Rhonda Koele has extensive health care experience, including a background in nursing and extensive professional experience in Risk Management, Quality Improvement and Patient Safety. She has worked in a variety of health care settings, including hospitals and number of ambulatory care environments. In her current role, Rhonda serves in Allina Health System's corporate office as Director of Risk Management and has as one of her responsibilities conducting pre-acquisition risk assessments as well as participating in the on-boarding process for new acquisitions.
Description
In today's healthcare environment, mergers and acquisitions have become commonplace. Risk management and insurance-related issues are critical aspects of mergers and acquisitions. Assessment of risks assumed in new business transactions provides critical information for evaluation of new relationships for the health care organization. Comprehensive risk assessments allow organizations to gather necessary information, communicate key issues to appropriate leaders, ensure due diligence and direct strategic planning to successfully integrate a new entity into the organization. This presentation considers Risk Managements contribution and offers processes and tools to utilize when conducting risk assessments during mergers or acquisitions.
LEARNER OUTCOMES:
Adapt risk assessment tools for use in their organization's pre-acquisition process.
Describe Risk Management's role in conducting risk assessments as part of mergers and acquisitions
Outline the categories of risk issues to be included in a pre-acquisition risk assessment.