Healthcare Collateral Consulting, LLC offers outsourced due diligence services including field examinations, credit, underwriting, risk analysis and account management for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management.
"HCC's services are designed to provide a customized solution".
Managing Director and President - David J. Lacasse has more than 11 years of experience in asset based lending, healthcare finance, and medical device manufacturing, most recently managing the loan portfolio for a prior healthcare finance business since 2004. Healthcare Collateral Consulting, LLC healthcarecollateralconsulting@gmail.com
Fairfield County, Connecticut
203-610-2515
Monday, January 28, 2008
Friday, January 25, 2008
Home Care 100 Executive Management Conference
February 10-12, 2008
Fairmont Scottsdale Princess Resort, AZ
For Senior Management in Home Care:
In the six years since the conference’s inception, it has become clear that home care and hospice is a much-needed transformative influence on our healthcare system – and it has also become clear that now is only the beginning. Our 2008 conference program reflects the need to build leadership throughout.
The overall theme of Home Care 100 could be termed management excellence. In other words, how can we foster the best possible climate for success in our respective organizations? How can we balance patient care with fiduciary care to achieve an optimal combination of clinical, professional and financial performance? While you may not be able to answer these questions fully in the course of one meeting, at Home Care 100 you will have access to a large number of your senior peers as well as industry speakers from around the country – a terrific resource for sharing ideas and best practices beyond the conference.
For further information please go to:
http://www.homecare100.com/
This link was provide to you by Healthcare Collateral Consulting, LLC. If you would like to advertise on this blog, please email the Public Relations Department at healthcarecollateralconsulting@gmail.com to request additional information.
Fairmont Scottsdale Princess Resort, AZ
For Senior Management in Home Care:
In the six years since the conference’s inception, it has become clear that home care and hospice is a much-needed transformative influence on our healthcare system – and it has also become clear that now is only the beginning. Our 2008 conference program reflects the need to build leadership throughout.
The overall theme of Home Care 100 could be termed management excellence. In other words, how can we foster the best possible climate for success in our respective organizations? How can we balance patient care with fiduciary care to achieve an optimal combination of clinical, professional and financial performance? While you may not be able to answer these questions fully in the course of one meeting, at Home Care 100 you will have access to a large number of your senior peers as well as industry speakers from around the country – a terrific resource for sharing ideas and best practices beyond the conference.
For further information please go to:
http://www.homecare100.com/
This link was provide to you by Healthcare Collateral Consulting, LLC. If you would like to advertise on this blog, please email the Public Relations Department at healthcarecollateralconsulting@gmail.com to request additional information.
CMS PROPOSES RATE YEAR 2009 PAYMENT, POLICY CHANGES FOR LONG-TERM CARE HOSPITALS
The Centers for Medicare & Medicaid Services (CMS) today issued a proposed payment rule designed to assure that long-term care hospitals (LTCHs) continue to receive appropriate payment for services provided while giving them incentives to provide more efficient care to Medicare beneficiaries. LTCHs are a type of acute care hospital that treats some of Medicare’s most severely ill or medically complex patients. The new policies and payment rates would apply to services provided to individuals who are discharged from these hospitals on or after July 1, 2008.
“The proposals announced today will help make sure Medicare beneficiaries who need longer term inpatient care get high quality services appropriate to their medical conditions,” CMS Acting Administrator Kerry Weems said. “The proposals seek increased incentives for efficient delivery of care, ensuring that beneficiaries and taxpayers get the best value for the Medicare dollar.”
The proposed rule would affect the nearly 400 LTCHs across the nation. These hospitals are generally defined as inpatient hospitals where the average length of stay for Medicare patients is greater than 25 days. These hospitals provide extended medical and rehabilitative care for patients with clinically complex conditions. Treatment provided in these hospitals typically includes weaning patients from ventilators so they can breathe without this assistance, pain management, and rehabilitation.
These hospitals have been paid under a prospective payment system (PPS) that provides a single payment to the hospital for the patient’s stay based on the patient’s diagnosis, since cost reporting periods beginning on or after October 1, 2002. Currently, patients are categorized under the Medicare Severity Long-Term Care Diagnosis Related Groups (MS-LTC-DRGs). The payment is calculated to reflect the average costs incurred by an LTCH in treating this type of patient, but does not include payment for services of physicians and nonphysician practitioners who bill Medicare separately.
CMS is proposing a standard Federal rate of $39,076.28 for the 2009 rate year. This is based on a proposed update of 2.6 percent compared with the standard Federal rate for RY 2008, as revised to comply with provisions of the recently enacted Medicare, Medicaid, and SCHIP Extension Act of 2007(“Medicare Extension Act”). The update represents a 3.5 percent increase in the hospital marketbasket (a measure of inflation in the costs of goods and services used in providing inpatient care), less a 0.9 percent adjustment to offset coding changes in RY 2006 that do not reflect real changes in the severity of the cases treated by these hospitals.
Aggregate LTCH PPS payments for RY 2009 are estimated at approximately $4.44 billion, based on the proposed changes presented in the proposed rule, an increase of approximately $124 million over estimated payments in RY 2008.
To read the entire article go to:
http://www.cms.hhs.gov/apps/media/press/release.asp?Counter=2845&intNumPerPage=10&checkDate=&checkKey=&srchType=1&numDays=3500&srchOpt=0&srchData=&srchOpt=0&srchData=&keywordType=All&chkNewsType=1%2C+2%2C+3%2C+4%2C+5&intPage=&showAll=&pYear=&year=&desc=&cboOrder=date
Healthcare Collateral Consulting, LLC
“The proposals announced today will help make sure Medicare beneficiaries who need longer term inpatient care get high quality services appropriate to their medical conditions,” CMS Acting Administrator Kerry Weems said. “The proposals seek increased incentives for efficient delivery of care, ensuring that beneficiaries and taxpayers get the best value for the Medicare dollar.”
The proposed rule would affect the nearly 400 LTCHs across the nation. These hospitals are generally defined as inpatient hospitals where the average length of stay for Medicare patients is greater than 25 days. These hospitals provide extended medical and rehabilitative care for patients with clinically complex conditions. Treatment provided in these hospitals typically includes weaning patients from ventilators so they can breathe without this assistance, pain management, and rehabilitation.
These hospitals have been paid under a prospective payment system (PPS) that provides a single payment to the hospital for the patient’s stay based on the patient’s diagnosis, since cost reporting periods beginning on or after October 1, 2002. Currently, patients are categorized under the Medicare Severity Long-Term Care Diagnosis Related Groups (MS-LTC-DRGs). The payment is calculated to reflect the average costs incurred by an LTCH in treating this type of patient, but does not include payment for services of physicians and nonphysician practitioners who bill Medicare separately.
CMS is proposing a standard Federal rate of $39,076.28 for the 2009 rate year. This is based on a proposed update of 2.6 percent compared with the standard Federal rate for RY 2008, as revised to comply with provisions of the recently enacted Medicare, Medicaid, and SCHIP Extension Act of 2007(“Medicare Extension Act”). The update represents a 3.5 percent increase in the hospital marketbasket (a measure of inflation in the costs of goods and services used in providing inpatient care), less a 0.9 percent adjustment to offset coding changes in RY 2006 that do not reflect real changes in the severity of the cases treated by these hospitals.
Aggregate LTCH PPS payments for RY 2009 are estimated at approximately $4.44 billion, based on the proposed changes presented in the proposed rule, an increase of approximately $124 million over estimated payments in RY 2008.
To read the entire article go to:
http://www.cms.hhs.gov/apps/media/press/release.asp?Counter=2845&intNumPerPage=10&checkDate=&checkKey=&srchType=1&numDays=3500&srchOpt=0&srchData=&srchOpt=0&srchData=&keywordType=All&chkNewsType=1%2C+2%2C+3%2C+4%2C+5&intPage=&showAll=&pYear=&year=&desc=&cboOrder=date
Healthcare Collateral Consulting, LLC
Tuesday, January 22, 2008
Healthcare Collateral Consulting, LLC adds New Executive Recruiting Service
The Assignment Division of Healthcare Collateral Consulting, LLC accepts both retained and contingency assignments in both healthcare asset based lending and healthcare private equity marketplace. We are committed to providing confidential, professional services to our clients and candidates alike.
We engage in full range of search assignments including field audit, credit, collateral, underwriting, portfolio/account management, operations, accounting, business development, marketing, sales management, and senior management positions located throughout the nation.
“Many of the players in healthcare lending are focusing on booking transactions without adequate back-office and due diligence support, which has created a void in the marketplace for the type of due diligence, account management and job placement services we offer,” said David J. Lacasse, Managing Director at HCC. "HCC's services are designed to provide a customized solution from healthcare finance professionals ".
To Our Clients: We know your business. At HCC’s-Assignment Division, innovative recruitment for the right talent is imperative. Only after one-on-one interviews do we consider a candidate for placement. All credentials and references are thoroughly checked and validated. Your satisfaction with our candidate’s level of performance is central in establishing a strong relationship and providing innovative outsourcing solutions.
To Our Candidates: We are committed to providing our candidates with prompt, confidential service. Healthcare Collateral Consulting, LLC-Assignment Division offers challenging job opportunities to help meet their personal and professional goals. The most important pledge that we make to our candidates is to represent them in a fair and honest manner.
Healthcare Collateral Consulting, LLC (HCC) provides outsourced due diligence services including field examinations, credit, underwriting, risk analysis and account management for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management. Our healthcare knowledge provides lenders with additional insight into healthcare trade risks that cannot be provided by most other accounting or audit firms.
Contact Information: To learn more about Healthcare Collateral Consulting, LLC’s executive recruiting service or to register with our division as a future candidate, please email Assignments Division at hcc.assignments@gmail.com .
We engage in full range of search assignments including field audit, credit, collateral, underwriting, portfolio/account management, operations, accounting, business development, marketing, sales management, and senior management positions located throughout the nation.
“Many of the players in healthcare lending are focusing on booking transactions without adequate back-office and due diligence support, which has created a void in the marketplace for the type of due diligence, account management and job placement services we offer,” said David J. Lacasse, Managing Director at HCC. "HCC's services are designed to provide a customized solution from healthcare finance professionals ".
To Our Clients: We know your business. At HCC’s-Assignment Division, innovative recruitment for the right talent is imperative. Only after one-on-one interviews do we consider a candidate for placement. All credentials and references are thoroughly checked and validated. Your satisfaction with our candidate’s level of performance is central in establishing a strong relationship and providing innovative outsourcing solutions.
To Our Candidates: We are committed to providing our candidates with prompt, confidential service. Healthcare Collateral Consulting, LLC-Assignment Division offers challenging job opportunities to help meet their personal and professional goals. The most important pledge that we make to our candidates is to represent them in a fair and honest manner.
Healthcare Collateral Consulting, LLC (HCC) provides outsourced due diligence services including field examinations, credit, underwriting, risk analysis and account management for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management. Our healthcare knowledge provides lenders with additional insight into healthcare trade risks that cannot be provided by most other accounting or audit firms.
Contact Information: To learn more about Healthcare Collateral Consulting, LLC’s executive recruiting service or to register with our division as a future candidate, please email Assignments Division at hcc.assignments@gmail.com .
Wednesday, January 16, 2008
7th Annual Asset Based Lending in Capital Markets Conference
February 13 to 14, 2008 • Fairmont Scottsdale Princess - Scottsdale, AZ
Global Asset Based Lending in the Capital Markets Summit heads to the Scottsdale Fairmont Princess February 13-15, 2008. Mark your calendars to attend this premier annual event which focuses on high end corporates and their Funding Options in the Asset Based Finance market. Now in its 7th Year, this event provides comprehensive coverage of today’s issues in the secured debt market.
Asset Based Lending continues to be a highly-charged financing tool used by companies all across the credit spectrum and all around the globe. In M&A, Refinancings, and Raising Capital, Asset-Based Lending plays a prominent role in a company’s capital structure. This event will explain why!
Additional information on this conference can be found at:
http://www.almevents.com/conf_page.cfm?pt=includes/webpages/webwysiwyg.cfm&web_page_id=8450&web_id=1054&instance_id=25&pid=662
This link was provide to you by Healthcare Collateral Consulting, LLC. Healthcare Collateral Consulting, LLC offers outsourced due diligence services including field examinations, credit, underwriting, research, risk analysis and account management for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management. If you would like to advertise on this blog, please email the Public Relations Department at healthcarecollateralconsulting@gmail.com to request additional information.
Global Asset Based Lending in the Capital Markets Summit heads to the Scottsdale Fairmont Princess February 13-15, 2008. Mark your calendars to attend this premier annual event which focuses on high end corporates and their Funding Options in the Asset Based Finance market. Now in its 7th Year, this event provides comprehensive coverage of today’s issues in the secured debt market.
Asset Based Lending continues to be a highly-charged financing tool used by companies all across the credit spectrum and all around the globe. In M&A, Refinancings, and Raising Capital, Asset-Based Lending plays a prominent role in a company’s capital structure. This event will explain why!
Additional information on this conference can be found at:
http://www.almevents.com/conf_page.cfm?pt=includes/webpages/webwysiwyg.cfm&web_page_id=8450&web_id=1054&instance_id=25&pid=662
This link was provide to you by Healthcare Collateral Consulting, LLC. Healthcare Collateral Consulting, LLC offers outsourced due diligence services including field examinations, credit, underwriting, research, risk analysis and account management for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management. If you would like to advertise on this blog, please email the Public Relations Department at healthcarecollateralconsulting@gmail.com to request additional information.
HFMA’s Spring Seminar Series: Denver
Healthcare Financial Management Association’s Spring Seminar
Date
January 22-25, 2008
Location
Grand Hyatt Denver
1750 Welton Street
Denver, CO
Seminars:
Financial and Healthcare Business Management Track
Revenue Cycle Improvements Track
Consumer-Focused Practices Track
Payment Trends
Managed Care Track
Date
January 22-25, 2008
Location
Grand Hyatt Denver
1750 Welton Street
Denver, CO
Seminars:
Financial and Healthcare Business Management Track
Revenue Cycle Improvements Track
Consumer-Focused Practices Track
Payment Trends
Managed Care Track
Additional information on this conference can be found at:
http://www.hfma.org/events/conferences/denver.htm?panel=1
Wednesday, January 9, 2008
Lenders in Complex Corporate Financings: Use Care to Protect Rights
The increasing complexity of corporate financings, coupled with market uncertainty and a credit crunch, is making it more important than ever for lenders in multicreditor deals to protect their rights and interests during negotiations, according to James C. Hale, a corporate finance partner in the Roanoke office of LeClairRyan.
Financing for mergers and acquisitions, leveraged buyouts and recapitalizations often contain components of traditional secured lending as well as mezzanine debt and equity, Hale notes, making it crucial for creditor parties to use great care when it comes to negotiating the finer points of deals.
"It is these details that pose substantial risk to each member of the lender group," Hale says. "With the volatility in the financial markets, intercreditor and subordination terms among lenders have gained new significance. Restrictions on payments and distributions, rights to collateral proceeds, standstill periods, buyout options, priorities upon distribution and their impacts on each credit provider require thorough consideration."
Given the market's increased complexity, first and subordinate lien lenders involved in multicreditor financing transactions need to pay close attention to such key issues as:
Subordination
Intercreditor and subordination agreements commonly contain provisions stating that senior lenders' loans and associated interests and rights are superior to those of sub-debt lenders. A sophisticated first lien holder may demand assurances that subordinated liens are junior in priority, regardless of the failure of the first lien holder to properly perfect its lien, the successful challenge of lien validity by a third party, or any other invalidation of the lien. Many of the relative rights of the parties are, in fact, determined by the other terms of the agreement. Lenders in multicreditor deals must pay close attention to those other terms.
Loan Modifications
Prohibitions against modification of each lender's agreement with the borrower, subject to the consent of the other credit providers, are typical. Negotiated restrictions to loan modifications will often allow a lender to make non-material modifications to an agreement without prior consent. Furthermore, express prohibitions may have a major impact on subordination of collateral, the ability to raise fees or interest, adjusting payment terms and other important issues.
Payments and Distributions
Terms dealing with debt payments and distributions of stock in repayment should be explicit about what is permissible and the conditions under which they may be made and accepted. Permitted payments may be fixed, may be tied to the financial performance of the borrower or reductions in principal outstanding, and prepayments may be prohibited. Senior lenders will often seek to prohibit payments or distributions to subordinated creditors in the event that the loan facility is in default.
Standstill
Senior lenders often require that subordinated lenders agree to a standstill period in the case of a borrower's default, meaning that the lender cannot sue for the debt, exercise rights as a secured creditor, accept payment on its debt or exercise warrants. The standstill period is often 180 days, but lenders may negotiate that time period. Lenders can create exceptions to the standstill to ensure that the senior lender acts expeditiously to protect the interests of the lender group and maximize the return to junior lenders.
Distribution Upon Liquidation
Intercreditor and subordination agreements should be very explicit as to the distribution of proceeds of collateral securing the financing facilities upon the liquidation of assets of the borrower. The order and priority in which the proceeds are distributed is called the "waterfall." Lenders should insist that a waterfall provision be inserted in the agreement, and that the order, allocation, special treatment of certain collateral, and other terms of distribution upon liquidation are unambiguous.
Bankruptcy
The interests of a senior lender can be vastly different from those of junior lender in a bankruptcy or reorganization. Although often requested, sub-lenders need to be careful about transferring authority to the senior lender in an insolvency proceeding. Treatment of collateral, approval of a plan of reorganization, and permitting debtor-in-possession financing affect each lender differently. A sub-debt lender may insist on a buyout option of the senior credit facility. The terms of the buyout are negotiable, but would allow the junior lender to control its destiny in the event bankruptcy is pending or threatened.
"In today's environment, the implications of the agreement among lender parties have gained substantial significance," Hale notes. "Every deal requires a different risk calculus and allocation. As lending covenants and conditions change with the market, so too should the terms and relative interests of credit parties in a multi-tiered financing transaction."
"Each credit party must thoroughly evaluate the manner in which the credit will be administered by each of the lending parties throughout the term of the facility - when the financing is in good standing and, more particularly, in the event that the borrower becomes distressed or in default," he concludes.
A uniquely structured, business-minded law firm, LeClairRyan specializes in developing legal solutions to its clients' business challenges.
Source:
http://www.abfjournal.com/story.asp?id=21799
Financing for mergers and acquisitions, leveraged buyouts and recapitalizations often contain components of traditional secured lending as well as mezzanine debt and equity, Hale notes, making it crucial for creditor parties to use great care when it comes to negotiating the finer points of deals.
"It is these details that pose substantial risk to each member of the lender group," Hale says. "With the volatility in the financial markets, intercreditor and subordination terms among lenders have gained new significance. Restrictions on payments and distributions, rights to collateral proceeds, standstill periods, buyout options, priorities upon distribution and their impacts on each credit provider require thorough consideration."
Given the market's increased complexity, first and subordinate lien lenders involved in multicreditor financing transactions need to pay close attention to such key issues as:
Subordination
Intercreditor and subordination agreements commonly contain provisions stating that senior lenders' loans and associated interests and rights are superior to those of sub-debt lenders. A sophisticated first lien holder may demand assurances that subordinated liens are junior in priority, regardless of the failure of the first lien holder to properly perfect its lien, the successful challenge of lien validity by a third party, or any other invalidation of the lien. Many of the relative rights of the parties are, in fact, determined by the other terms of the agreement. Lenders in multicreditor deals must pay close attention to those other terms.
Loan Modifications
Prohibitions against modification of each lender's agreement with the borrower, subject to the consent of the other credit providers, are typical. Negotiated restrictions to loan modifications will often allow a lender to make non-material modifications to an agreement without prior consent. Furthermore, express prohibitions may have a major impact on subordination of collateral, the ability to raise fees or interest, adjusting payment terms and other important issues.
Payments and Distributions
Terms dealing with debt payments and distributions of stock in repayment should be explicit about what is permissible and the conditions under which they may be made and accepted. Permitted payments may be fixed, may be tied to the financial performance of the borrower or reductions in principal outstanding, and prepayments may be prohibited. Senior lenders will often seek to prohibit payments or distributions to subordinated creditors in the event that the loan facility is in default.
Standstill
Senior lenders often require that subordinated lenders agree to a standstill period in the case of a borrower's default, meaning that the lender cannot sue for the debt, exercise rights as a secured creditor, accept payment on its debt or exercise warrants. The standstill period is often 180 days, but lenders may negotiate that time period. Lenders can create exceptions to the standstill to ensure that the senior lender acts expeditiously to protect the interests of the lender group and maximize the return to junior lenders.
Distribution Upon Liquidation
Intercreditor and subordination agreements should be very explicit as to the distribution of proceeds of collateral securing the financing facilities upon the liquidation of assets of the borrower. The order and priority in which the proceeds are distributed is called the "waterfall." Lenders should insist that a waterfall provision be inserted in the agreement, and that the order, allocation, special treatment of certain collateral, and other terms of distribution upon liquidation are unambiguous.
Bankruptcy
The interests of a senior lender can be vastly different from those of junior lender in a bankruptcy or reorganization. Although often requested, sub-lenders need to be careful about transferring authority to the senior lender in an insolvency proceeding. Treatment of collateral, approval of a plan of reorganization, and permitting debtor-in-possession financing affect each lender differently. A sub-debt lender may insist on a buyout option of the senior credit facility. The terms of the buyout are negotiable, but would allow the junior lender to control its destiny in the event bankruptcy is pending or threatened.
"In today's environment, the implications of the agreement among lender parties have gained substantial significance," Hale notes. "Every deal requires a different risk calculus and allocation. As lending covenants and conditions change with the market, so too should the terms and relative interests of credit parties in a multi-tiered financing transaction."
"Each credit party must thoroughly evaluate the manner in which the credit will be administered by each of the lending parties throughout the term of the facility - when the financing is in good standing and, more particularly, in the event that the borrower becomes distressed or in default," he concludes.
A uniquely structured, business-minded law firm, LeClairRyan specializes in developing legal solutions to its clients' business challenges.
Source:
http://www.abfjournal.com/story.asp?id=21799
Tuesday, January 8, 2008
Commercial Finance Association (CFA) - Educational Program Schedule
FIELD EXAMINER SCHOOL - Los Angeles, CA
Monday-Friday, January 28 - February 1, 2008
The Field Examiner School is a comprehensive five-day program covering every aspect of field examination techniques and practices. Through discussion, simulation and case-study participants learn to evaluate collateral and detect possible fraud by analyzing accounts receivable, inventory, cash, fixed assets, financial statements, internal controls and accounts payable. Emphasis is placed on the field examiner's role in the credit function through real-world examples and "war stories".
ABL BASICS WORKSHOP - New York, NY
Monday-Tuesday, March 3-4, 2008
ABL and Factoring Basics for New Business Development Staff is a two-day workshop designed to provide marketing personnel in entrepreneurial organizations with the essential product knowledge necessary for successful sales. Topics include Basic Understanding of Asset Based Lending and Factoring; Basic Credit Skills; Due Diligence; Operations; and Salesmanship.
ADVANCED LEGAL ISSUES WORKSHOP - Chicago, IL
Monday-Wednesday, April 14-16, 2008
The Advanced Legal Issues Workshop is a three-day forum covering a variety of major legal concerns for asset-based lending professionals. Designed specifically for non-attorneys, the Workshop aims to increase participants' working knowledge of the legal principles that affect their jobs. Combining interactive discussion with both real-life and hypothetical casework, the program covers Multi-lender Transactions, Subordination, Documentation, Fraudulent Conveyance, Bankruptcy, Lender Liability and many other issues. A "Hot Topics" section is included to cover pertinent cases and developments in commercial law and regulation.
CFA LEADERSHIP INSTITUTE - Atlanta, GA
Monday-Wednesday, April 28-30, 2008
The CFA Leadership Institute is designed to provide high-potential staff with the leadership skills required to assume managerial responsibilities in the Asset Based Financial Services Industry. During the three-day program, entitled "Earning The Right To Lead", participants learn: Their roles as leaders within their organizations;how to manage relationships to maximize results; and how to apply these skills in action.
WORKOUTS & BANKRUPCTY WORKSHOP - Washington, D.C.
Tuesday-Thursday, May 6-8, 2008
The Workouts & Bankruptcy Workshop is a three-day program in which participants hone their skills in anticipating, analyzing and evaluating problem situations and developing strategies for either rehabilitation or liquidation. Participants learn the art of crisis management, workout scenarios and realistic liquidation procedures. In the process they explore both the internal and external resources required to implement solutions and resolve client problems. The workshop also leads participants through the legal maze that surrounds crisis loan management, loan restructuring, client rehabilitation and bankruptcy. Case studies utilize group analysis to focus on realistic problems.
FRAUD AWARENESS WORKSHOP - Los Angeles, CA
Wednesday-Friday, May 21-23, 2008
The Fraud Awareness Workshop is a three-day program presenting best practices in the prevention and detection of borrower fraud. The workshop addresses recommended fraud prevention procedures for a variety of ABL disciplines: Account Management, Field Examination, Underwriting, Operations and others. The goal of the program is for participants to understand their roles in mitigating the risk of fraud within their organizations, and to take away specific approaches and techniques in fraud prevention/detection.
Additional information on these programs can be found at:
http://www.cfa.com/Education_Programs/education_schedule.asp#ABL
This link was provide to you by Healthcare Collateral Consulting, LLC. Healthcare Collateral Consulting, LLC offers outsourced due diligence services including field examinations, credit, underwriting, research, risk analysis and account management for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management.
If you would like to advertise on this blog, please email the Public Relations Department at healthcarecollateralconsulting@gmail.com to request additional information.
Monday-Friday, January 28 - February 1, 2008
The Field Examiner School is a comprehensive five-day program covering every aspect of field examination techniques and practices. Through discussion, simulation and case-study participants learn to evaluate collateral and detect possible fraud by analyzing accounts receivable, inventory, cash, fixed assets, financial statements, internal controls and accounts payable. Emphasis is placed on the field examiner's role in the credit function through real-world examples and "war stories".
ABL BASICS WORKSHOP - New York, NY
Monday-Tuesday, March 3-4, 2008
ABL and Factoring Basics for New Business Development Staff is a two-day workshop designed to provide marketing personnel in entrepreneurial organizations with the essential product knowledge necessary for successful sales. Topics include Basic Understanding of Asset Based Lending and Factoring; Basic Credit Skills; Due Diligence; Operations; and Salesmanship.
ADVANCED LEGAL ISSUES WORKSHOP - Chicago, IL
Monday-Wednesday, April 14-16, 2008
The Advanced Legal Issues Workshop is a three-day forum covering a variety of major legal concerns for asset-based lending professionals. Designed specifically for non-attorneys, the Workshop aims to increase participants' working knowledge of the legal principles that affect their jobs. Combining interactive discussion with both real-life and hypothetical casework, the program covers Multi-lender Transactions, Subordination, Documentation, Fraudulent Conveyance, Bankruptcy, Lender Liability and many other issues. A "Hot Topics" section is included to cover pertinent cases and developments in commercial law and regulation.
CFA LEADERSHIP INSTITUTE - Atlanta, GA
Monday-Wednesday, April 28-30, 2008
The CFA Leadership Institute is designed to provide high-potential staff with the leadership skills required to assume managerial responsibilities in the Asset Based Financial Services Industry. During the three-day program, entitled "Earning The Right To Lead", participants learn: Their roles as leaders within their organizations;how to manage relationships to maximize results; and how to apply these skills in action.
WORKOUTS & BANKRUPCTY WORKSHOP - Washington, D.C.
Tuesday-Thursday, May 6-8, 2008
The Workouts & Bankruptcy Workshop is a three-day program in which participants hone their skills in anticipating, analyzing and evaluating problem situations and developing strategies for either rehabilitation or liquidation. Participants learn the art of crisis management, workout scenarios and realistic liquidation procedures. In the process they explore both the internal and external resources required to implement solutions and resolve client problems. The workshop also leads participants through the legal maze that surrounds crisis loan management, loan restructuring, client rehabilitation and bankruptcy. Case studies utilize group analysis to focus on realistic problems.
FRAUD AWARENESS WORKSHOP - Los Angeles, CA
Wednesday-Friday, May 21-23, 2008
The Fraud Awareness Workshop is a three-day program presenting best practices in the prevention and detection of borrower fraud. The workshop addresses recommended fraud prevention procedures for a variety of ABL disciplines: Account Management, Field Examination, Underwriting, Operations and others. The goal of the program is for participants to understand their roles in mitigating the risk of fraud within their organizations, and to take away specific approaches and techniques in fraud prevention/detection.
Additional information on these programs can be found at:
http://www.cfa.com/Education_Programs/education_schedule.asp#ABL
This link was provide to you by Healthcare Collateral Consulting, LLC. Healthcare Collateral Consulting, LLC offers outsourced due diligence services including field examinations, credit, underwriting, research, risk analysis and account management for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management.
If you would like to advertise on this blog, please email the Public Relations Department at healthcarecollateralconsulting@gmail.com to request additional information.
CMS REPORTS U.S. HEALTH CARE SPENDING GROWTH ACCELERATED ONLY SLIGHTLY IN 2006
BUT STILL FASTER THAN ECONOMIC GROWTH AND GENERAL INFLATION
Health care spending growth in the United States accelerated slightly in 2006, increasing 6.7 percent compared to 6.5 percent in 2005, which was the slowest rate of growth since 1999. Health care spending, however, continues to outpace overall economic growth and general inflation, which grew 6.1 percent and 3.2 percent, respectively, in 2006.
In 2006, health care spending reached a total of $2.1 trillion, or $7,026 per person, up from $6,649 per person in 2005, according to a report by the Centers for Medicare & Medicaid Services (CMS). The health spending share of the nation’s Gross Domestic Product (GDP) remained relatively stable in 2006 at 16.0 percent, up by only 0.1 percentage point from 2005.
“The cost of health care continues to be a real and pressing concern. Making sure we are paying for high quality health care services, not just the number of services provided, is just one of the most critical issues facing the American public and the federal government now and in the future,” said CMS Acting Administrator Kerry Weems. “This review of health care spending reminds us that we need to accelerate our efforts to improve our health care delivery system to make sure that Medicare and Medicaid are sustainable for future generations of beneficiaries and taxpayers."
Out-of-pocket spending grew 3.8 percent in 2006, a deceleration from 5.2 percent growth in 2005.
This slowdown is attributable to the negative growth in out-of-pocket payments for prescription drugs, mainly due to the introduction of the Medicare Part D benefit. Out-of-pocket spending accounted for 12 percent of national health spending in 2006; this share has steadily declined since 1998, when it accounted for 15 percent of health spending. Out-of-pocket spending relative to overall household spending, however, has remained fairly flat since 2003.
The CMS found that overall private spending growth slowed in 2006. Private health insurance premiums grew 5.5 percent in 2006, which was the slowest rate of growth since 1997. Benefit payment growth also slowed, from 6.9 percent growth in 2005 to 6.0 percent in 2006. The slower growth reflects, in part, a decline in private health insurance spending on prescription drugs. The ratio of net cost of private health insurance (the difference between premiums and benefits) to total private health insurance premiums was 12.3 percent in 2006, slightly lower than 12.7 percent in 2005.
At the aggregate level in 2006, businesses (25 percent), households (31 percent), other private sponsors (3 percent), and governments (40 percent) paid for about the same share of health services and supplies as they did in 2005. However, spending shifts did occur within major sponsor categories due to implementation of the Medicare Part D benefit. Medicare’s share of federal spending increased from 29 percent in 2005 to 34 percent in 2006, while Medicaid’s share decreased from 45 percent to 40 percent. For households, the share of Medicare spending attributable to payroll taxes and premiums increased slightly in response to first-time Medicare Part D premiums. Conversely, the out-of-pocket spending share decreased slightly due, in part, to the newly available prescription drug coverage through Medicare Part D.
Total Medicaid spending declined for the first time since the program’s inception, falling 0.9 percent in 2006. The introduction of Medicare Part D, which shifted drug coverage for dual eligibles from Medicaid into Medicare, contributed to the decline in Medicaid spending growth. Other reasons for the decline include continued cost containment efforts by states and slower enrollment growth due to more restrictive eligibility criteria and a stronger economy.
Hospital spending, which accounts for 31 percent of total health care spending, grew 7.0 percent in 2006, a decrease of 0.3 percentage points from 2005 and a continued deceleration from 2002 (when growth was 8.2 percent). The 2006 growth rate was partially driven by lower utilization of hospital services, especially within Medicare as fee-for-service inpatient hospital admissions declined.
Spending for physician and clinical services also slowed, increasing 5.9 percent in 2006, which is 1.5 percentage points slower than in 2005 and the slowest rate of growth since 1999. The slowdown was driven by a deceleration in price growth, fueled by a near freeze on Medicare payments to physicians (whose fee schedule update was 0.2 percent in 2006) that influenced private payers as well.
In addition, spending growth for both nursing home and home health services slowed. For freestanding nursing homes, spending grew 3.5 percent in 2006—a deceleration from 4.9 percent in 2005 and the slowest rate of growth since 1999. This deceleration is partially attributable to a reduction in nursing home price growth. Spending growth for freestanding home health care services decelerated from 12.3 percent in 2005 to 9.9 percent in 2006, also partially due to a reduction in price growth. Despite the 2006 deceleration, home health care continues to be the fastest growing component of all personal health care spending.
Source:
http://www.cms.hhs.gov/apps/media/press/release.asp?Counter=2810&intNumPerPage=10&checkDate=&checkKey=&srchType=1&numDays=3500&srchOpt=0&srchData=&srchOpt=0&srchData=&keywordType=All&chkNewsType=1%2C+2%2C+3%2C+4%2C+5&intPage=&showAll=&pYear=&year=&desc=&cboOrder=date
The health care spending data can be found on the CMS Web site at http://www.cms.hhs.gov/NationalHealthExpendData/01_Overview.asp.
Health care spending growth in the United States accelerated slightly in 2006, increasing 6.7 percent compared to 6.5 percent in 2005, which was the slowest rate of growth since 1999. Health care spending, however, continues to outpace overall economic growth and general inflation, which grew 6.1 percent and 3.2 percent, respectively, in 2006.
In 2006, health care spending reached a total of $2.1 trillion, or $7,026 per person, up from $6,649 per person in 2005, according to a report by the Centers for Medicare & Medicaid Services (CMS). The health spending share of the nation’s Gross Domestic Product (GDP) remained relatively stable in 2006 at 16.0 percent, up by only 0.1 percentage point from 2005.
“The cost of health care continues to be a real and pressing concern. Making sure we are paying for high quality health care services, not just the number of services provided, is just one of the most critical issues facing the American public and the federal government now and in the future,” said CMS Acting Administrator Kerry Weems. “This review of health care spending reminds us that we need to accelerate our efforts to improve our health care delivery system to make sure that Medicare and Medicaid are sustainable for future generations of beneficiaries and taxpayers."
Out-of-pocket spending grew 3.8 percent in 2006, a deceleration from 5.2 percent growth in 2005.
This slowdown is attributable to the negative growth in out-of-pocket payments for prescription drugs, mainly due to the introduction of the Medicare Part D benefit. Out-of-pocket spending accounted for 12 percent of national health spending in 2006; this share has steadily declined since 1998, when it accounted for 15 percent of health spending. Out-of-pocket spending relative to overall household spending, however, has remained fairly flat since 2003.
The CMS found that overall private spending growth slowed in 2006. Private health insurance premiums grew 5.5 percent in 2006, which was the slowest rate of growth since 1997. Benefit payment growth also slowed, from 6.9 percent growth in 2005 to 6.0 percent in 2006. The slower growth reflects, in part, a decline in private health insurance spending on prescription drugs. The ratio of net cost of private health insurance (the difference between premiums and benefits) to total private health insurance premiums was 12.3 percent in 2006, slightly lower than 12.7 percent in 2005.
At the aggregate level in 2006, businesses (25 percent), households (31 percent), other private sponsors (3 percent), and governments (40 percent) paid for about the same share of health services and supplies as they did in 2005. However, spending shifts did occur within major sponsor categories due to implementation of the Medicare Part D benefit. Medicare’s share of federal spending increased from 29 percent in 2005 to 34 percent in 2006, while Medicaid’s share decreased from 45 percent to 40 percent. For households, the share of Medicare spending attributable to payroll taxes and premiums increased slightly in response to first-time Medicare Part D premiums. Conversely, the out-of-pocket spending share decreased slightly due, in part, to the newly available prescription drug coverage through Medicare Part D.
Total Medicaid spending declined for the first time since the program’s inception, falling 0.9 percent in 2006. The introduction of Medicare Part D, which shifted drug coverage for dual eligibles from Medicaid into Medicare, contributed to the decline in Medicaid spending growth. Other reasons for the decline include continued cost containment efforts by states and slower enrollment growth due to more restrictive eligibility criteria and a stronger economy.
Hospital spending, which accounts for 31 percent of total health care spending, grew 7.0 percent in 2006, a decrease of 0.3 percentage points from 2005 and a continued deceleration from 2002 (when growth was 8.2 percent). The 2006 growth rate was partially driven by lower utilization of hospital services, especially within Medicare as fee-for-service inpatient hospital admissions declined.
Spending for physician and clinical services also slowed, increasing 5.9 percent in 2006, which is 1.5 percentage points slower than in 2005 and the slowest rate of growth since 1999. The slowdown was driven by a deceleration in price growth, fueled by a near freeze on Medicare payments to physicians (whose fee schedule update was 0.2 percent in 2006) that influenced private payers as well.
In addition, spending growth for both nursing home and home health services slowed. For freestanding nursing homes, spending grew 3.5 percent in 2006—a deceleration from 4.9 percent in 2005 and the slowest rate of growth since 1999. This deceleration is partially attributable to a reduction in nursing home price growth. Spending growth for freestanding home health care services decelerated from 12.3 percent in 2005 to 9.9 percent in 2006, also partially due to a reduction in price growth. Despite the 2006 deceleration, home health care continues to be the fastest growing component of all personal health care spending.
Source:
http://www.cms.hhs.gov/apps/media/press/release.asp?Counter=2810&intNumPerPage=10&checkDate=&checkKey=&srchType=1&numDays=3500&srchOpt=0&srchData=&srchOpt=0&srchData=&keywordType=All&chkNewsType=1%2C+2%2C+3%2C+4%2C+5&intPage=&showAll=&pYear=&year=&desc=&cboOrder=date
The health care spending data can be found on the CMS Web site at http://www.cms.hhs.gov/NationalHealthExpendData/01_Overview.asp.
Monday, January 7, 2008
Healthcare Private Equity and Institutional Investors
"A New Outsourcing Strategy for Healthcare Private Equity and Institutional Investors", Healthcare Collateral Consulting, LLC (HCC) has been founded. Our healthcare knowledge provides lenders in Healthcare and Life Sciences with additional insight into healthcare trade risks that cannot be provided by most other accounting or audit firms.
“Many of the players in healthcare lending are focusing on booking transactions without adequate back-office and due diligence support, which has created a void in the marketplace for the type of due diligence and account management services we offer,” said David J. Lacasse, Managing Director at HCC. "HCC's services are designed to provide a customized solution from healthcare finance professionals. Something the traditional competing firm can not provide".
Healthcare Collateral Consulting, LLC has mission to provide superior, cost effective, value added services to our clients. HCC is committed to establishing strong relationships with its clients and providing innovative outsourcing solutions with the highest quality of service.
How do you get started?
If you are interested in learning more, or would like to get in touch with Mr. David Lacasse; He can be reached at the following email address: djlacasse@gmail.com . Please included your name, title, company name and phone number where Mr. Lacasse can reach you.
We look forward to hearing from you,
Healthcare Collateral Consulting, LLC
healthcarecollateralconsulting@gmail.com
Fairfield County, Connecticut
203-610-2515
press release on ABFjournal.com.
http://www.abfjournal.com/story.asp?id=20633
“Many of the players in healthcare lending are focusing on booking transactions without adequate back-office and due diligence support, which has created a void in the marketplace for the type of due diligence and account management services we offer,” said David J. Lacasse, Managing Director at HCC. "HCC's services are designed to provide a customized solution from healthcare finance professionals. Something the traditional competing firm can not provide".
Healthcare Collateral Consulting, LLC has mission to provide superior, cost effective, value added services to our clients. HCC is committed to establishing strong relationships with its clients and providing innovative outsourcing solutions with the highest quality of service.
How do you get started?
If you are interested in learning more, or would like to get in touch with Mr. David Lacasse; He can be reached at the following email address: djlacasse@gmail.com . Please included your name, title, company name and phone number where Mr. Lacasse can reach you.
We look forward to hearing from you,
Healthcare Collateral Consulting, LLC
healthcarecollateralconsulting@gmail.com
Fairfield County, Connecticut
203-610-2515
press release on ABFjournal.com.
http://www.abfjournal.com/story.asp?id=20633
Healthcare Asset Based Lending (ABL Services)
Healthcare Collateral Consulting, LLC offers outsourced due diligence services including field examinations, credit, underwriting, risk analysis and account management for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management.
HCC's services are designed to provide a customized solution and include:
Managing Director and President - David J. Lacasse has more than 11 years of experience in asset based lending, healthcare finance, and medical device manufacturing, most recently managing the loan portfolio for a prior healthcare finance business since 2004.
Healthcare Collateral Consulting, LLC
healthcarecollateralconsulting@gmail.com
Fairfield County, Connecticut
203-610-2515
HCC's services are designed to provide a customized solution and include:
- Remote Performance & Loan Compliance Reviews
- Underwriting/Due Diligence
- Collateral Exams/Reimbursement Analysis
- Remote Financial Assessments
- Scheduling Engagements & Staffing
- UCC Research
- Monitoring Healthcare Facility Survey Results
- Best Practices Analysis
- Revolving Line of Credit Simulation
- Inventory Analysis
- Hard-asset Verifications
- Special Assets Divestitures
Managing Director and President - David J. Lacasse has more than 11 years of experience in asset based lending, healthcare finance, and medical device manufacturing, most recently managing the loan portfolio for a prior healthcare finance business since 2004.
Healthcare Collateral Consulting, LLC
healthcarecollateralconsulting@gmail.com
Fairfield County, Connecticut
203-610-2515
Happy New Year from Healthcare Collateral Consulting, LLC
The New Year offers us a special opportunity to extend our personal thanks to our clientele, and our very best wishes for the future. So it is that we now gather together and wish to you a very Happy New Year. We consider you a good friend and extend our wishes for a prosperous year and good cheer. It is people like you who make being in business such a pleasure all year long. Our business is a source of pride to us, and with customers like you, we find going to work each day a rewarding experience.
Thanks again for a wonderful year.
David J. Lacasse, Managing Director
Healthcare Collateral Consulting, LLC
203-610-2515
Thanks again for a wonderful year.
David J. Lacasse, Managing Director
Healthcare Collateral Consulting, LLC
203-610-2515
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