Kaufman Hall joins forces with Claro Healthcare
Kaufman Hall, a healthcare and higher education management consulting and advisory services firm, is joining up with Claro Healthcare, a healthcare consulting firm.
The merger brings together two healthcare consulting businesses. Kaufman Hall provides consulting services for health systems and hospitals on strategic financial planning, treasury and capital markets, mergers and acquisitions and performance improvement. Claro Healthcare operates a clinical documentation, hospital operations and mid-revenue cycle improvement platform to optimize return on investment to providers.
Kaufman Hall is also well-known for its frequent reports on financial health of hospitals, as well as other industry research. The company’s most recent hospital flash report revealed hospitals are facing billions in losses this year as a result of the continuing pressures of the COVID-19 pandemic, a tighter labor market and sky-high inflation.
Under terms of the deal, Claro Healthcare will keep its brand name and will be referred to as “Claro Healthcare, a Kaufman Hall company." The deal is expected to close in October.
"Healthcare providers are under growing pressure to achieve and demonstrate excellence in all facets of operations, including revenue management and quality outcomes—in the face of rising expenses, declining margins, and changing payment models," R. Wesley Champion, managing director and CEO of Kaufman Hall, said in a statement. "Together, the complementary services and cultures of Kaufman Hall and Claro Healthcare will position us to jointly deliver a whole new level of integrated improvement services to healthcare providers, who are more challenged than ever to achieve the financial, operational, and quality performance necessary to carry out their missions of community health."
According to Kaufman Hall, the deal supports the company’s efforts to help healthcare organizations pursue financial, operational and quality improvement. Claro Healthcare maintains the deal enables both companies to complement each other’s services to better serve clients.
"Kaufman Hall possesses a deep foundation in helping organizations benchmark performance against their peers,” chairman and managing director of Claro Healthcare, said in a statement. “This arrangement will be a strong cultural fit for both of our organizations, given our shared technical and collaborative approach to consulting—and our likeminded commitment to always finding the best solutions for our clients."
The move also comes as the healthcare industry has seen mass consolidation among providers and service providers over the past several years. The trend has caught the attention of federal regulators and lawmakers who are worried about anticompetitive transactions and rising healthcare prices.
Kaufman Hall acquired Healthcare Real Estate Capital, a national advisory firm focused on the healthcare and higher education real estate capital markets sectors, late last year.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."