Stroudwater Associates Positions to Increase Its Impact on Healthcare with Investment in People, Technology, and Service Offerings

PORTLAND, Maine, Jan. 20, 2020 /PRNewswire/ -- Stroudwater Associates, the nation's leading source of strategic, operational, and financial strategy for rural and community hospitals, announced today it has surpassed its impact goals for 2019 and is positioned for additional growth in 2020.

According to the American Hospital Association, 51 million Americans depend on their hospital not only as a source of care, but as an economic and social pillar of their community. These hospitals are fighting to improve outcomes and provide high value healthcare services in a challenging operating environment with a shortage of clinicians, proliferating high deductible health plans, technology investment imperatives and regulatory complexity. Stroudwater's strategic, operational, and financial services are designed to provide immediate and long-term impact that will enhance the sustainability of hospitals and health systems and help their communities maintain access to essential healthcare services.

"When we talk about impact we're focusing primarily on patients and communities," said Stroudwater Associates Managing Director Jeffrey Sommer. "We evaluate our impact by how many hospitals we help remain a cornerstone of their community and we look at the impact that comes with keeping healthcare services close, efficient, high quality and cost effective."

2019 impact, by the numbers:

• 368 engagements with hospitals, health systems, and physician groups
• Engagements in 43 states in 2019
• Strategies with 210 unique client organizations
• Direct impact on 2,200,000 patients in areas where access to health services is at risk

"Our goal in 2020 is to double the lives we are impacting," says Stroudwater Board Chairman Eric Shell.  "We are well positioned to do this through investments in people, technology, and additional services.  Also, beyond our single hospital engagements we are increasingly working with health systems to help them impact their entire network of rural and community hospitals."

Team promotions and recognition:

• Principal Eric Shell elected as Chair of the Board of Directors
• Principal Jeffrey Sommer accepts role as Managing Director
• Opal H. Greenway and Jonathan Patenberg promoted to Principal
• Laurie Daigle promoted to Senior Consultant
• A. Zachary Boser joins as consultant
• Senior Healthcare Consultant Lindsay Corcoran named 2020 Rural Health Fellow by NRHA
• Managing Director Jeffrey Sommer accepts Patriot Award in recognition of support provided to a service member or their family

Service Expansion & Technology

Stroudwater is known for its ability to deliver short-term, high-intensity support to hospitals, health systems and provider organizations facing immediate challenges in operating and financial performance.   In addition to its longer-term engagements around strategic planning, capital planning, affiliation and partnership advisory, revenue cycle, population health and team care, it has developed shorter term assessments that provide immediate value.  Products include:

• Rapid Strategic Planning
• Rapid Facility Planning
• Strategic, Financial, and Operational Assessments (SFOA)
• Physician Office / Clinic Designations
• Payer Contracting
• Chargemaster and Revenue Cycle Review

These projects are supported by advancements in Stroudwater technology and data including:

• Strategic Risk Assessment Dashboard: a comprehensive, market exclusive risk measurement tool for use in developing strategic plans
• Swing Bed Quality Analysis Tool that provides nationally comparable quality data to demonstrate quality of care and participate in alternative payment methods
• Cost Report Optimization Tool to help leverage designations and optimize reimbursements

"Seizing opportunity requires grit ? and we see that every day working in community hospitals and rural communities," adds Sommer. "We are optimistic about the coming year and the resources we bring to bear for the hospitals, communities, and patients that we are dedicated to serving." To learn more about Stroudwater, visit www.stroudwater.com.

About Stroudwater Associates

Founded in 1985, Stroudwater Associates is a leading national healthcare consulting firm with offices in Atlanta, Nashville, and Portland, Maine. We focus on strategic, operational, and financial areas where our perspective offers the highest value for rural hospitals, community hospitals, healthcare systems, and large physician groups. Stroudwater is made up of clinicians, managers, corporate officers, investment bankers, financial analysts, and content specialists with deep domain expertise.

Media Contact:
Kebra Shelhamer
773.799.8200
[email protected]

SOURCE Stroudwater Associates