What are the responsibilities and job description for the Medical Practice Acquisition Consultant (Temporary Contract Assignment) position at Middlesex Health?
MEDICAL PRACTICE ACQUISITION CONSULTANT
The Medical Practice Acquisition Consultant is responsible for overseeing the entire process of acquiring the new medical practice, from initial due diligence to post-acquisition integration, ensuring a smooth transition and successful incorporation into the acquiring healthcare organization by managing all aspects of the project, including legal, financial, operational, and clinical considerations.
Key Responsibilities:
Due Diligence:
Participate in the due diligence process, coordinating with legal, accounting, information technology, health information management, human resources, and clinical teams to thoroughly review practice operations, contracts, integration of patient records, and compliance issues.
Negotiation:
Participate in negotiations with practice owners regarding acquisition terms, including purchase price, transition arrangements, and employment contracts.
Project Planning:
Develop a comprehensive project plan outlining the acquisition process's timelines, milestones, responsibilities, and communication strategies.
Integration Planning:
Work with health system executives to design and implement a detailed integration plan for acquired practice operations, including staff onboarding, electronic health record (EHR) conversion, operational system integration, and patient transition.
Stakeholder Management:
Effectively communicate and collaborate with key stakeholders throughout the acquisition process, including practice owners, clinical staff, administrative teams, legal counsel, and senior leadership.
Risk Mitigation:
Identify and subsequently work with health system executives to address potential risks associated with the acquisition, including regulatory compliance, legal issues, and financial considerations.
Change Management:
Facilitate change management strategies to minimize disruption and ensure smooth patient, staff, and provider transition during the acquisition process.
Post-Acquisition Monitoring:
Coordinate with health system executives to track key performance indicators (KPIs) post-acquisition to assess integration success and identify areas for improvement.
Required Skills and Qualifications:
Healthcare Industry Knowledge:
Thorough knowledge of healthcare operations, regulations, reimbursement models, and clinical practices.
Project Management Expertise:
Proven experience in project management methodologies, including planning, scheduling, budgeting, and risk management.
Financial Analysis:
Ability to analyze financial statements valuation metrics and assess the economic viability of potential acquisitions.
Negotiation Skills:
Strong negotiation skills to secure favorable terms for the acquiring organization.
Communication Skills:
Excellent written and verbal communication skills to effectively convey complex information to diverse stakeholders.
Leadership Abilities:
Ability to lead cross-functional teams and manage multiple priorities simultaneously.
Legal and Regulatory Awareness:
Understanding of relevant healthcare laws and regulations regarding practice acquisitions.
Relevant Experience required for the position:
Bachelor’s degree in a relevant field or having a combination of work experience and education that demonstrates a similar level of knowledge and skills
Extensive background in healthcare operations, practice management, or consulting
Proven track record of successful project execution in a complex healthcare environment
Term of Assignment:
April 2025 through January 2026. Hours per week will vary, and there will be a heavier workload at the beginning and end of the project. The position can be either a W-2 Per Diem or a 1099 contract position. Hourly rate is negotiable and commensurate with the successful candidate’s knowledge and expertise in medical practice acquisitions.
