Here are five organizations helping physicians start or maintain independent practice through new and innovative business models:
1. New York City-based Sapient Health, owned by Joseph Romano and Bill Ingram, has "the expertise of a large management company while maintaining a personalized, startup-like feel," Mr. Romano told Becker's. The company emphasizes regional representation, particularly in New York, New Jersey and Florida. They also operate a physician-driven model in which the firm enters deals as a minority partner, ensuring that physicians retain leadership while gaining business acumen for long-term success.
2. Matawan, N.J.-based management services organization Redefine Management utilizes a vertically integrated model to offer a full spectrum of tailored management solutions, empowering physician groups and healthcare providers with the infrastructure they need to succeed. Redefine's CEO William Vanderveer recently told Becker's that, through the company's partnerships with medical groups, his company is able to deliver the benefits of traditional health system alliances, like more favorable payer contracts, while preserving physician autonomy and independence.
3. Houston-based CardioOne, a cardiology-focused management services organization, provides ongoing infrastructure support to its partners, specifically in IT, revenue cycle management, benefits administration, finance and credentialing through a master services agreement. CardioOne does not acquire, own or employ any of the practices it works with. Rather, it partners with groups of cardiologists, especially those who are currently employed and looking to start an independent practice, and supports them in every aspect of starting a business.
4. Philadelphia-based Atria Health has launched a new, independence-forward partnership model for cardiology practices. While Atria is backed by Cypress Ridge Partners, a private equity group, the company does not acquire practices, but rather invests in them to support long-term goals and growth. Atria recently partnered with Philadelphia-based AMS Cardiology, an independent cardiovascular practice of over 40 years and launched an ASC through the joint venture.
5. Ker Leader Medical, an ASC development company, centers and promotes physician autonomy and practice independence. Ker Medical envisions its network of independent ASCs as more akin to a "farming co-op" than a corporate, Wall Street-backed entity. This model prioritizes local physician leadership and autonomy, fostering an environment where they can thrive through creative, low-cost financing solutions.