Advisory Services Improve Hospitals’ Ability to Navigate Risk-Based Contract Negotiations
PORTLAND, Maine and NASHVILLE, Tennessee, November 25, 2013 – iVantage Health Analytics, the leading provider of health analytic solutions for the new healthcare, announced today that it has acquired Xylem Consulting, LLC, a strategic advisor to hospitals. The terms and conditions of the agreement were not disclosed.
Xylem Consulting specializes in managed care contract analysis and negotiations, strategy development, including advancement of bundled payment and risk-based solutions, and pricing of health services. The firm was founded by Jack Wolf, CPA, MHA, and provides data-driven financial decision-making support to large hospital systems, academic medical centers, community hospitals and ancillary healthcare providers. The addition of Xylem complements iVantage’s recent acquisition of Professional Data Services (PDS) and enables clients to leverage both robust business intelligence and advisory services to drive contract negotiations and combat the eroding margins associated with the healthcare reform reimbursement mandates.
“I’m thrilled to have Xylem join iVantage and be able to tap into its robust portfolio of actionable analytic services to further assist hospitals in creating a healthier bottom line,” commented Wolf. “There’s no doubt that health care reform is changing the way hospitals do business. Under the terms of the new healthcare, new models and increased scrutiny are forcing all players to explore ways to work together to improve affordability, access and quality, as well as operating margins. Joining iVantage, we can now further empower our clients with a centralized financial, strategic, operations and compliance platform and improve their contract negotiations with any at-risk entity.”
Wolf developed deep expertise as a senior manager in the healthcare practice of Crowe Horwath LLP and through highly accountable management and executive leadership positions at Hospital Corporation of America and Ascension Health. Wolf’s notable experiences at HCA include the management of a multi-billion dollar managed care portfolio including: negotiation of contracts ranging up to $1 billion, business plan development, implementation of consumer directed initiatives, and analytical tool deployment. He is an advocate for providers when presenting at national healthcare forums and conferences on topics ranging from managed care portfolio management to price transparency.
About Xylem Consulting, LLC
Xylem Consulting provides strategic advisory services to hospitals nationwide. The firm has a proven track record of working with hospitals to achieve their contracting goals. The firm understands how to manage the data and prepare hospitals for successful negotiations. Established in 2007, Xylem supports hospital decision-makers on the development of managed care portfolio strategies and pricing targets and achievement of successful payor negotiations.
About iVantage Health Analytics
iVantage is a leading provider of healthcare informatics and business analytics solutions that transform complex data into actionable business intelligence. Its VantagePointsTM platform is used by hospital management teams to drive empirical and evidence based decision making. These products are positioned to meet the needs of a today’s healthcare market, which requires meaningful data to support new compliance based requirements and the operational challenges of the Patient Protection and Affordable Care Act (“PPACA”).