Bergen Regional Medical Center

Situation

  • Bergen Regional Medical Center (BRMC) is a County owned 1,000+ bed safety net hospital in Paramus NJ providing acute, behavioral health and long term care to the uninsured and underinsured in New Jersey
  • In late 2016 the County was in need of a healthcare advisory firm to assist it in oversight of the operations of the facility during a period in which it was transitioning from one long-term third party operator to a new long term operator
  • The County and its advisors began and are continuing the process of conducting a Request-For-Proposal (RFP) for a new operator to succeed the current manager of the facility and advisory services would serve to facilitate the due diligence process, advise on the selection of a new operator in the context of a longer term strategic goal for the facility and if necessary potentially bridge the gap between the old and new operators

Execution and Results

  • TKP was able to facilitate and assist with the completion of a comprehensive Due Diligence report on the hospital that was utilized in the RFP process
  • TKP continues to advise the County in the evaluation of the various strategic plans, projections and term sheets submitted by the several bidders during the RFP process
  • TKP’s own internal due diligence at the hospital has provided the County with in-depth knowledge of the current state of the operations and facility, enabling the County to formulate longer term strategic initiatives within the context of the RFP process
  • The County will rely on TKP during the transition of operations between the current and successful bidder of the RFP process to ensure that there is no disruption in patient care/services
  • In the event that the RFP process timeline extends beyond the expiration of the current operator’s agreement with the County, TKP stands ready to step in as interim operator

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