The Innovative Health Strategies team comprises practicing Faegre Drinker attorneys and non-attorney consultants with decades of combined experience negotiating group purchasing organization (GPO) contracts, purchased services contracts, information technology agreements, dialysis divestiture, joint venture and outsourcing contracts. Our consultants also have firsthand industry experience through their work as in-house counsel for health systems and suppliers. Innovative Health Strategies and Faegre Drinker have worked with dozens of health care clients through Faegre Drinker to handle all of the business and legal issues related to purchased services, information technology and capital equipment contracting, including requests for proposal, vendor selection and negotiation of the final contract.
Innovative Health Strategies helps clients generate cost savings, increase revenue, improve quality, and, with our team’s strong legal background, optimize the business and legal terms in their contracts. We focus on assisting clients with large-scale outsourcing programs and technology procurement. Our clients benefit from our unique background and experience bringing together various stakeholders among the health care, business and legal industries to solve complex business challenges.
With our Faegre Drinker legal experience, we have honed a holistic approach to consulting that differs substantially from our competitors. Combining legal acumen with years of experience working with health care clients on these matters, we act as an extension of your C-suite and take every project seamlessly from inception to a satisfactory conclusion. We provide the collaboration and engagement essential to an attorney-client relationship* and go above and beyond to direct the project and ensure that everything is done right. This directive approach may not be a route our clients have traditionally taken, but they agree that the engagement of our team provides increased savings and efficiency and greater vendor relationship satisfaction over the long term.
We bring consistent, detailed client service to every project. Every hospital and health system is unique, so we use our vast deal-making experience and knowledge of the market to tailor business and contracting solutions that fit the needs of individual clients. Our team members will spend time getting to know you and the various stakeholders key to your project. We will build your engagement around a competitive bidding process and perform a 360-degree evaluation of potential solutions.
*Attorney-client relationship only if engagement is solely through Faegre Drinker
What Makes Us Different?
Often a hospital or health system that is looking to put purchased services, IT programs or capital equipment purchases out to bid repeats the same process. They start by having their internal supply chain department or a third-party consultant draft an RFP. After the vendor of choice has been selected, in-house or external counsel then drafts and negotiates the contract.
However, this approach can be problematic and leave hospitals and health systems exposed to negative consequences going forward. Internal supply chain staff and consultants may not have the expertise to recognize key legal and regulatory issues that need to be addressed in the RFP. In-house attorneys and external counsel who are tasked with drafting the contract may not possess any subject-matter expertise, which makes it difficult for them to ensure that all of the business issues are being adequately addressed in the contract language.
In contrast, we run the RFP and the negotiation process simultaneously, identifying blind spots early in the process and eliminating them before they become a problem. The value we bring combines an in-depth understanding of the business operations within hospitals and health systems with legal experience to provide the best results for clients.
Our IHS and Faegre Drinker team has worked with dozens of health care clients to handle all of the business and legal issues related to purchased services; IT and capital equipment contracting, including RFP development phase vendor selection; and negotiation of the final contract.
As a wholly owned subsidiary of Faegre Drinker Biddle & Reath LLP, a distinguished national law firm with a large and prominent health care practice, we are uniquely qualified to help our clients develop business solutions that meet financial, operational and legal goals.