Strategic Impact Hub
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Acquiring HCPro 鈥� An Investment In the Future
In early 2019, 91影视 began an assessment to determine its strategic position and the long-term challenges facing the health information (HI) profession. That planning led to conversations around various investment strategies to solidify the association鈥檚 position as the HI market leader and broaden our impact in the field.
91影视 leaders engaged with investment firms to consider options to channel available funds to strengthen 91影视鈥檚 financial position in the future and further diversify and expand resources for the health information community. Possibilities were investigated, including mergers, acquisitions and even new business opportunities. 91影视 sought to understand how other associations had proactively pursued acquisitions of strategically aligned organizations as well as similar business models.
Decision to Acquire HCPro
In 2023, a strategic decision was made by the 91影视鈥檚 Board of Directors to acquire HCPro, a market-leading provider of education and decision support solutions focused on empowering healthcare professionals and organizations to drive compliance, financial success, and operational excellence.
Improving Healthcare Through Knowledge
This acquisition truly complements our vision as both 91影视 and HCPro are focused on improving healthcare through knowledge. The HCPro portfolio of products aligned with 91影视鈥檚 goals and provided an opportunity to expand 91影视鈥檚 offerings to both the professionals doing this vital work and the health systems committed to excellence in health information.
As a wholly owned subsidiary of 91影视, HCPro offers significant benefits to 91影视:
- Financially, HCPro is generating strong earnings that support 91影视鈥檚 cash flow, thereby strengthening the association鈥檚 financial position.
- Operationally, HCPro brings efficient processes and best practices in the critical areas of member support and services, production workflows, customer service, and event management.
- Strategically, HCPro adds Coding, CDI and Medicare compliance offerings in both acute and post-acute settings to the 91影视 enterprise that helps support health information professionals.
Frequently Asked Questions
Why would an association acquire a for-profit company?
Often associations look for opportunities to invest funds to strengthen their financial footing. Some consider merging with other membership associations or acquiring related businesses as part of a long-term investment strategy. A number of investment opportunities were considered and HCPro was determined to be the best investment opportunity for 91影视.
This acquisition allows 91影视 to operate HCPro as a for-profit, wholly-owned subsidiary, enabling the organization to remain focused on caring for its clients.
How are 91影视 and HCPro aligned?
At the time of the acquisition, 91影视鈥檚 Board was seeking strategic ways to broaden the organization鈥檚 impact. They believed that acquiring HCPro truly complemented their vision as both 91影视 and HCPro were and remain focused on improving healthcare through knowledge. Adding HCPro to the 91影视 family deepens our expertise, gives us greater agility, and enables us to bring new solutions and services to the healthcare market more quickly.
How does 91影视 benefit from the acquisition of HCPro?
As a wholly owned subsidiary, the profitability of HCPro directly impacts the financial stability of 91影视 as its sole investor and owner. 91影视 and HCPro are committed to serving health information professionals both now and long into the future. This partnership is designed to usher in a new wave of enhanced support for 91影视 members and the broader HI community.
What are the financial details of the acquisition?
91影视 is a 501(c)(6) non-profit membership association that publishes an IRS Form 990 as required by law. However, HCPro LLC is a for-profit business in a highly competitive industry. Revealing proprietary details could compromise their profitability and thereby impact the financial strength of 91影视 and HCPro.
Is 91影视 able to share financial information about HCPro?
To protect its investment, 91影视 cannot disclose details surrounding the acquisition without risk of adversely impacting the association鈥檚 business, financial condition, operations, and cash flow. Additionally, publicly revealing HCPro鈥檚 financial information or strategic, long-term planning could put the company鈥檚 performance at risk, particularly in light of the tremendous investment and technological resources of their largest competitors.