Author Bio

Ritchie Dickey, CFA

Ritchie Dickey, CFA, is a vice president with Lancaster Pollard in Atlanta. He specializes in hospital, senior living and housing finance structures and has completed over $617 million in closed transactions. 

More by this author

Looking for a Financing Solution: It Pays to Keep Your Options Open

8/13/2017 Antelope Valley Healthcare District (AVHD) and Tri-City Healthcare District (TCHD) are similar in many ways. Read More

Rating Agencies Update: Happy Days are Here Again … But Will They Last?

10/6/2016 The hospital sector saw one of its best years in recent memory during 2015. As a result of the Affordable Care Act (ACA), expanded insurance coverage was in full swing, along with a recovering economy, robust revenue growth and low interest rates. Read More

Agency Options for Hospital Finance Better than Ever

6/9/2016 Today is a good day to be an issuer in the bond market. With paltry returns available through government bonds and investment-grade paper, fixed income investors are reaching for yield and aggressively bidding for nearly all non-investment grade municipal bond credits, including hospitals. However, not all hospitals are a good fit for tax-exempt bonds. Restrictive covenants, transaction and borrower size, and cost of the issuance are a few factors that may make a public bond issue unfeasible. Read More

Planning for the Unknown: Triple Aim

4/7/2016  “In preparing for battle I have always found that plans are useless, but planning is indispensable.” This quote attributed to Dwight Eisenhower is good advice for strategizing in an environment where one knows that the conditions will change. Such is the case with the future of revenue for health care providers in America. Read More

Rating Agencies Update: Overall Outlook Improves, Gains Concentrated at the Top

10/11/2015 Finally, we have some winners. After years of gloom over stagnant volume growth amid uncertainty over the Affordable Care Act (ACA) and challenging economic forces, the outlook is brighter for many health care providers. The consensus theme of the three largest credit rating agencies (CRAs) is that the rich got richer, while weaker providers continue to struggle adapting to technological and market dynamics. Read More

Managing Risks in a Rising Interest Rate Environment

4/17/2015 Since late 2007, the Federal Reserve (Fed) has used aggressive measures to keep interest rates low, inflate asset prices and stimulate the economy. Even though the Great Recession officially ended in September 2009, these monetary policies effectively remain in place today. Recently, however, the narrative has shifted from “if” to “when and how aggressively” rates will rise. Nonprofit organizations with investible assets and long-term debt should view this as an opportunity to manage interest rate risk. Read More

Accountable Care Organizations and Skilled Nursing: What Providers Should Know

10/14/2014 Though the term was coined in 2006, Accountable Care Organizations (ACOs) started gaining prominence in 2010 when the initiative was introduced to Medicare through the Affordable Care Act (ACA). ACOs are a means to improve care to beneficiaries and transition from the traditional fee-for-service model to a population-based payment system.  Read More

The Capital Issue: December 2014-January 2015

Senior Living
The Fiduciary Focus