Navigating complex financial issues Knoxville News Sentinel

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Pershing 60

Health Care Ed Pershing

V. Pershing

Co-founder, president, Yoakley Associates. shareholder of Trust Group, top U.S. estate advisory Healthcare Horizons Group, a claims analysis whose clients Walmart, Google, Home Depot Pilot; PYA Capital, a investment advisory ranked among nation’s top RIAs for and Bluegill a multimedia Associated businesses include Research Consultants, PYA/Stamp, Medical Solutions, PYA GatesMoore, through a merger

Previous Certified public with Ernst

Community service: Gov. Bill Task Force Health Wellness; board member, committee, Ronald House; vice Great Smoky Institute at University of Chancellor’s Associates; board member chairman, finance Knoxville Chamber; advisory board Tennessee Wesleyan School of co-founder, Mr. Foundation, which scholarships to seniors

Education: degree, accounting, of Tennessee

unexpected thing to Ed on his to a as a lawyer — health-care industry

And for Alcoa native visions of big business on a scale, the was, as turns out,

Pershing, president co-founder of Pershing Yoakley surveys the regional and health-care landscape reflects on dramatic change been a of for 40 years. unplanned role that change define the he and Doug Yoakley built advising and physicians business matters from tax, and valuation real estate insurance reimbursement.

I look on it think we probably crazy start it we did The recession; still remember difficult it Pershing says.

company has far from early uncertainty.

Yoakley Associates as the largest privately health-care consulting in the States, according Modern Healthcare with 2012 of more $40 million. has grown three employees more than employees, with than a affiliated companies offices in Atlanta, Tampa, and Austin,

The 1974 of Tennessee of Business planned to as an for two pass the exam and law school. a stopover then-Big Eight firm Ernst after graduation all that introducing him a career-long and stoking entrepreneurial passion.

60, has a reputation Knoxville and the country steering health-care through complicated like expansion, government regulation financing. He’s for an to recognize trends, giving time to

His work improving access medical care the Knoxville — through projects as Ronald McDonald Interfaith Health and Lisa Birth Women’s — as as being key facilitator a number confidential engagements community organizations also earned plaudits.

Bob Koppel, president of Tennessee Children’s credits Pershing his firm advising the hospital on expansion projects.

a very guy. He’s and he’s He has knack for health-care trends he’s a Koppel says.

longtime PYA is Covenant which manages largest network hospitals in Tennessee. Covenant CEO Tony says the Pershing has has put on the with its reputation for consulting.

He’s very successful person who built a that serves across the that is in Knoxville, said. I Ed to an important to me my career.

values the he’s developed health-care leaders the business and Yoakley built, but off the man label.

simply calls being in right place the right

‘Respected for professionalism’

Shortly joining Ernst Pershing decided career in law wasn’t him. He working with a co-worker Ernst Ernst, the two clients, some whom were organizations.

I it divine Pershing says, how the accounting giant him and other accounting in 1977 a yearlong program in consulting. In I was to do I was enough to known as health-care consulting in this of the

His selection that elite program altered future.

Ernst returned him Knoxville near end of training to Baptist Hospital East Tennessee its 1977 issue to the hospital’s wing. At same time, began working Children’s Hospital Sevier County Center. Then 1978, Pershing a team assess the of refinancing Mary’s Medical 1977 bond

It was this time the health-care began seeing spike in debt financing, became a line for consulting businesses. and Pershing a close relationship at and, after deliberation, broke to form Yoakley Associates 1983.

Pershing worked for Knoxville hospital, usually not the same

Ed has work for hospital in He walks very fine and there’s a breach confidentiality when is involved. respected for professionalism, Koppel He’s done for the community in Knoxville area.

care’s impact PYA is Health-care consulting about 65 of its with tax audit services up the 35 percent. said 90 of the is related health care, and financial

In addition, is a shareholder of number of businesses including estate development, advisory and design firms.

Pershing has grow PYA three decades, is quick credit others Ray Groves, Ernst Ernst whom Pershing a health-care E.B. Copeland, early board at Fort Alliance, which into Covenant former Baptist CFO Fred and the of Mercy, operated St. Hospital. Pershing all were in teaching the business health care, finance (Spencer) patient care of Mercy), making informed and standing them (Copeland).

early introduction issues facing have resulted important community including the Ross Birth Center, created give prenatal and midwife to women varying income The idea the center from Pershing’s to establish medical center Jellico, Tenn. he saw women with access to

The idea for all hospitals to it (Birth Center). But weren’t successful that so was operated There was high incidence women on not able be seen a health-care Pershing says.

volunteered his to other issues too, the TennCare

Pershing formed task force develop a network as way to off a crisis in 1990s.

Pershing, Jack Lacey Marvin Eichorn, of Mountain Health Alliance the Tri-Cities, ways to payment methods, payment rates, incentive payments redesign care models across Tennessee hospitals. a result, department visits hospital admissions significantly, access primary care and coverage specialists was readily available accessible.

The force’s program a financial and TennCare increased in Tennessee. The prompted Pershing develop a Position Paper led he Lacey to Knoxville Area Access to uninsured individuals’ to medical

Pershing’s community led to appointment to Bill Haslam’s Force on Wellness in an ambitious to lead state in the greatest improvement in and wellness any state the next years.

Pershing with pride his accomplishments says there been some along the

Chief among The sales two of leading hospitals Baptist and Mary’s, which influential roles his early

In less the span my career, seen two hospitals fail, that speaks the need sound management leadership, he Leadership matters can be difference between and failure. of your not-for-profit versus there is need for hospitals.

He recalls early lesson learned from of Fort Alliance: Tell client what need to not what want to

He hopes community has a valuable from the of two Knoxville’s founding in less four years. Baptist nor Mary’s was of Pershing at the of their but Pershing somewhat of proprietary interest his role a leading and his dealings with

And that’s I feel I failed a community We need be mindful competition is But public policy issues deem it to set competition and health care a community

2012, Knoxville Sentinel Co.


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