In a Modern Healthcare story exploring the trend of hospitals buying physician practices, Vince Galloro writes about a $10 million investment by HCA in a California burn center:
Last fall, HCA acquired a 13-physician cardiology practice in the Kansas City market and lured a well-known, physician-run burn center to its lone hospital in Southern California. The Grossman Burn Center was eager to move to HCA's 123-bed West Hills Hospital and Medical Center in Canoga Park, Calif., from 112-bed Sherman Oaks (Calif.) Hospital, says Peter Grossman, a co-director of the center and the son of its founder. Both the local and corporate managers showed great enthusiasm for making the burn center a flagship program at West Hills, Grossman says. The company also is willing to put more than $10 million into converting space in the hospital for the burn center's programs, he says.The full story is available here for MH subscribers.
Mar 2, 2010 8:24 AM
Community Health Systems’ discussion of acquisition opportunities for the coming year on its fourth-quarter conference call today sparked some déjà vu. Much like the Q3 call, CEO Wayne Smith discussed the company’s plans to acquire two hospitals this year, mentioning favorable deal pricing in the 50 to 60 percent of net revenue range — as opposed to the 80 percent or more that was typical in years past. He also reiterated that the company doesn’t need to do acquisitions to perform well, but that it will continue to buy facilities because it’s “helpful in terms of consistent growth.” In the discussion of its acquisition of Rockwood Clinic in Spokane, Wash., one analyst asked the company to discuss physician employment opportunities (a strategy HCA talked about on its Q4 call an hour earlier). Smith said the company employs about 10 percent of its physicians and has seen an increase in interest from physicians primarily around “the economy and lifestyle issues.” But buying Rockwood and its more than 30 physician locations was more about creating an integrated care network in a market where it already owns hospitals, he said. “By the way, historically buying physician practices has not been a good idea,” Smith said, adding that you have to think “long and hard” about how it will work for you strategically. Community Health's stock (Ticker: CYH) was up more than 2.5 percent after midday.
Feb 18, 2010 1:00 PM
Practice management firm sees continued growth ahead
Feb 5, 2010 12:52 PM
Salt Lake City health care consulting firm Equation has purchased Nashville's Healthcare Compliance and Consulting Resources. HCCR provides compliance and practice management consulting services to physician groups and hospitals. It will maintain its Nashville office, with HCCR President and CEO Cheryl Waltko becoming Equation's vice president.
Jan 25, 2010 3:11 PM
Industry pressures and the specter of reform are again pushing physicians into the arms of hospitals [From our print edition featured in Monday's City Paper]
Jan 3, 2010 8:32 PM
Physician practice management and consulting company PivotHealth has landed a three-year contract with Preferred Health Partners, a 170-physician group practice based in Brooklyn, N.Y., to provide comprehensive management services. Nashville-based PivotHealth manages medium to large multi-specialty medical groups across the country.
Dec 1, 2009 8:28 AM
Major doc group sues three physicians who defected to set up Cool Springs practice
Nov 16, 2009 8:20 PM
Also: Cookie remonstrance ends; personal-injury lawyers' feud continues [From our print edition featured in Monday's City Paper]
Oct 4, 2009 9:58 AM
POSTDATA: WARRANTY DEEDS