Here are five things to know.
1. On Feb. 5, UMC’s board approved a $5 million, eight-month contract with accounting and financial consulting firm Mazars USA. The board voted to hire Mazars in January, two months after the district’s City Council terminated the hospital’s management contract with UMC’s former manager, Veritas.
2. D.C. Council members approved the Mazars contract Feb. 23, meaning the firm is expected to begin operating UMC Feb. 26, according to the report.
3. Before the contract was approved, Mazars touted its qualifications during a D.C. Council health committee hearing, according to the report.
4. Mazars Healthcare Principal Ira Gottlieb said at the hearing the company plans to bring CEO Matthew Hamilton, along with various other C-suite executives, to operate the hospital, the Washington Business Journal reports. The publication notes he also revealed the firm would focus on RCM,staffing and individual department performance within the first couple months on the job.
5. D.C. Council members ultimately approved the Mazars contract amid a bid protest by competing operator FTI Health Solutions, part of FTI Consulting. The bid protest is still ongoing, according to the report.
Read the full report here.
More articles on healthcare finance:
5 hospitals with strong finances
LifePoint slips to $27.5M net loss in Q4
OIG tags 612-bed Georgia hospital for erroneous billing
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.