CHICAGO, June 28, 2016 /PRNewswire/ -- CNA today announced that it has launched an industry-leading tool and related consulting services that are designed to help healthcare organizations assess new and potentially unfamiliar exposures resulting from merger and acquisition (M&A) activity. CNA developed this capability in response to the growing M&A trend among healthcare providers such as hospitals, aging services organizations, allied healthcare facilities and large physician practices.
"Competitive pressures, healthcare reform and the cost of doing business are a few of the reasons that healthcare organizations decide to either merge with or acquire another organization or practice," said Joyce Benton, Assistant Vice President, Healthcare Risk Control. "CNA's experience in collaborating with healthcare organizations and providers across the continuum of care – and across the country – affords us a comprehensive industry view to help our customers successfully navigate the post-merger integration process."
While every situation is unique, common exposures following a transaction often include the challenges related to managing a new business or clinical unit, integrating workplace cultural issues, high staff turnover and loss of reimbursement. The new self-assessment M&A tool presents a series of questions that healthcare organizations and providers may explore, such as:
- Has a post-merger integration plan been developed and implemented?
- Have enterprise risks identified in the due diligence process been integrated into the post-merger strategy?
- Is there a consistent process established and implemented for monitoring, investigating and reporting incidents and near misses?
- Are employee surveys being used to assess staff morale and the degree of cultural integration?
"Post-transaction integration will have a significant impact on the success of the new entity. It is critical to use this period to assess the new landscape. Through this tool, CNA can help our customers identify the risk implications relative to M&A activity from an enterprise-wide perspective," Benton added.
CNA's After the Merger: A Self-assessment Tool to Evaluate and Manage Integration Risks is proprietary and available solely to healthcare providers insured through CNA. CNA Risk Control Consultants work with organizations to help identify the risk implications of an M&A transaction from a universal perspective.
For more information, please contact Brandon Davis at 312-822-5167 or Brandon.Davis@cna.com.
Serving businesses and professionals since 1897, CNA is the country's eighth largest commercial insurance writer and the 14th largest property and casualty company. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. "CNA" is a service mark registered by CNA Financial Corporation with the United States Patent and Trademark Office. Certain CNA Financial Corporation subsidiaries use the "CNA" service mark in connection with insurance underwriting and claims activities.
Brandon Davis, 312-822-5167 / 312-834-6091
Sarah Pang, 312-822-6394 / 312-607-5544
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