Last month, Healthcare Management Partners, LLC (HMP), a leading turnaround and consulting firm specializing in supporting healthcare organizations facing financial challenges, announced the company has relocated its headquarters from Philadelphia to Nashville. The company, which was founded by Scott Phillips in 1997, selected the new Gulch Crossing building for its headquarters.
"As a healthcare consulting firm that operates nationally, it makes sense for us to be headquartered in America's healthcare hub," says Clare Moylan, managing director and lead of HMP's Nashville-based operations. "We see Nashville as a strategic partner for Healthcare Management Partners. The synergies and support available to the healthcare industry here are unrivaled and will benefit our diverse client-base across the Country."
While HMP executes management and turnaround consulting work for healthcare organizations of all types, the company has become one of the national leaders in executing rural hospital turnarounds. Company officials cited Nashville's central location as another factor in the move, with the city offering efficient proximity to HMP clients, many of which are located across the South. In addition to executive turnaround management, HMP's core services include financial advisory, litigation support, and data analysis and benchmarking tools utilizing a proprietary product, HMP MetricsTM.
In late September, BlueCross BlueShield of Tennessee announced the company had "made the difficult but necessary decision" to reduce participation from eight to five regions on the Affordable Care Act Marketplace in Tennessee for 2017. An estimated 100,000 people will be impacted in the three regions dropped: Nashville, Knoxville and Memphis. The statement said the change does not affect seniors with Medicare Advantage plans, those enrolled with BlueCare or anyone who has insurance through their employer. Officials did not rule out a return in 2018 if conditions improved.