Another AMC Takeover

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Let's say they were willing, what would you ask for (within reason of course)....a dollar amount? percentage of partner buy out? what would be a fair reasonable clause?

Anybody ever join a group and have something like this built in during your partnership track years?


I just left a decent hospital employed gigue for a 2 year partner track pp job. They were willing to put a clause in my contract that states if after one year they sell, I will get 50% of partner buyout. They did come to me and offer me the job (I was not looking), so I felt like I had some power to negotiate... Will see how it works out.


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I just left a decent hospital employed gigue for a 2 year partner track pp job. They were willing to put a clause in my contract that states if after one year they sell, I will get 50% of partner buyout. They did come to me and offer me the job (I was not looking), so I felt like I had some power to negotiate... Will see how it works out.


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I hope it works out well!

nice to see that groups are offering this
 
Sounds like it's becoming even more important to have a lawyer review these contracts.

These lubrication clauses can be tricky
 
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Higher up in the thread someone mentioned NorthStar taking over the Norton Group in Louisville, but I've not heard or read anything about that being true. These are very interesting times.


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It's true. Posting is on gaswork now for more docs, so I'm guessing the transition was not pleasant or smooth.
 
FAQS
Q: Will NorthStar try to replace me?
We believe in employing the physicians and CRNAs already present at the hospital with long-standing relationships. It is our intent and long-standing practice to support rather than to replace providers. Our minimal turnover rate is a testament to this philosophy.


Q: Will NorthStar try to lower my compensation?
NorthStar believes in optimizing financial compensation for both the physicians and CRNAs to have the very best anesthesia providers. We are committed to exceeding MGMA standards by optimizing staffing plans, maximizing managed-care contracting and the advantage of large group purchases for benefits.
 
FAQS
Q: Will NorthStar try to replace me?
We believe in employing the physicians and CRNAs already present at the hospital with long-standing relationships. It is our intent and long-standing practice to support rather than to replace providers. Our minimal turnover rate is a testament to this philosophy.


Q: Will NorthStar try to lower my compensation?
NorthStar believes in optimizing financial compensation for both the physicians and CRNAs to have the very best anesthesia providers. We are committed to exceeding MGMA standards by optimizing staffing plans, maximizing managed-care contracting and the advantage of large group purchases for benefits.


Q: Will you come in and replace all our providers?
We typically retain 90%-95% of the existing providers as agreed upon with administration.
 
It's true. Posting is on gaswork now for more docs, so I'm guessing the transition was not pleasant or smooth.


NorthStar is growing and seeking Anesthesiologists for our newest location in Louisville!!
Full Description
NorthStar is excited to announce our newest partnership with Norton Hospital in Louisville, KY. Come join the nations fastest growing anesthesia group that will open up amazing career opportunities.

At Norton Hospital we will run a Care Team model, case mix is wide, but doesn't include hearts or OB. Flexible shifts and additional call pay are available!
 
FAQS
Q: Will NorthStar try to replace me?
We believe in employing the physicians and CRNAs already present at the hospital with long-standing relationships. It is our intent and long-standing practice to support rather than to replace providers. Our minimal turnover rate is a testament to this philosophy.


Q: Will NorthStar try to lower my compensation?
NorthStar believes in optimizing financial compensation for both the physicians and CRNAs to have the very best anesthesia providers. We are committed to exceeding MGMA standards by optimizing staffing plans, maximizing managed-care contracting and the advantage of large group purchases for benefits.

I'm assuming sarcasm
 
As predicted many, many times before.
 
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The healthcare bubble will soon burst, and all these parasitic middlemen will be without jobs. All that will be left is physician and patient.
 
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The healthcare bubble will soon burst, and all these parasitic middlemen will be without jobs. All that will be left is physician and patient.

Eventually, but not anytime soon. As long as there are means to profit within healthcare, parasitic middlemen will exist. Exploitation has been around for centuries. It just exists within varying degrees.
 
obamacare-premium-map.png

http://www.businessinsider.com/obamacare-price-change-for-every-state-in-us-2016-5
 
Is there any AMC that you would want to work for?
 
Ex p lain this health care bubble

Performance of procedures and prescription of medications for legal protection without consideration of whether they are convergent with patients goals. Arbitrary, quantifiable goals that are mandated and poorly implemented as "quality measures". Forcing people that are obviously dying to suffer on a ventilator, feeding tubes, etc. for months. Increased healthcare costs and legally coerced payments to insurance companies for high deductibles and poor coverage. Unsustainable ballooning ranks of administrators and their ever increasing salaries.
 
I don't know if AMC theaters is a good corp either ;)
 
The Midwest is no longer a lock in terms of avoiding the AMC/Borg Takeover:

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jun. 7, 2016-- MEDNAX, Inc. (NYSE:MD), today announced the acquisition of Northwest Anesthesia, PA, a private physician group practice based in Minneapolis, MN.

Northwest Anesthesia, established in 1974, is the first Minnesota-based practice to join the Company. The clinical care team consists of 128 full-time equivalent clinicians (37 full-time equivalent anesthesiologists and 91 full-time equivalent anesthetists) who provide services to seven Allina Health facilities, including Abbott Northwestern Hospital, the Minneapolis Heart Institute and The Mother Baby Center. In addition, Northwest Anesthesia is the exclusive provider of professional anesthesia services to several off-campus surgical centers throughout Minneapolis and other Allina Health tertiary hospitals.

Allina Health includes 13 hospitals and over 26,000 employees. Its flagship facility, Abbott Northwestern Hospital, is a major provider of surgical services, most notably in the areas of cardiology and cardiac surgery, neuroscience, high-risk obstetrics, orthopedics, integrative medicine, rehabilitation, spinal diseases and cancer prevention.

Northwest Anesthesia provides a broad range of specialty and subspecialty anesthesia services including obstetrics, general surgery, complex cardiac surgery, major spine and neurosurgery, and orthopedic surgery, as well as acute pain management services.

“We felt that MEDNAX was the best strategic partner to help us grow our practice and navigate the changes occurring in the healthcare arena,” said Steven Dentz, M.D., who will serve as medical director for the practice. “MEDNAX’s research, education and quality initiatives will strengthen our practice and allow us to demonstrate our value to our hospital partners.”
 
The Midwest is no longer a lock in terms of avoiding the AMC/Borg Takeover:

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jun. 7, 2016-- MEDNAX, Inc. (NYSE:MD), today announced the acquisition of Northwest Anesthesia, PA, a private physician group practice based in Minneapolis, MN.

Northwest Anesthesia, established in 1974, is the first Minnesota-based practice to join the Company. The clinical care team consists of 128 full-time equivalent clinicians (37 full-time equivalent anesthesiologists and 91 full-time equivalent anesthetists) who provide services to seven Allina Health facilities, including Abbott Northwestern Hospital, the Minneapolis Heart Institute and The Mother Baby Center. In addition, Northwest Anesthesia is the exclusive provider of professional anesthesia services to several off-campus surgical centers throughout Minneapolis and other Allina Health tertiary hospitals.

Allina Health includes 13 hospitals and over 26,000 employees. Its flagship facility, Abbott Northwestern Hospital, is a major provider of surgical services, most notably in the areas of cardiology and cardiac surgery, neuroscience, high-risk obstetrics, orthopedics, integrative medicine, rehabilitation, spinal diseases and cancer prevention.

Northwest Anesthesia provides a broad range of specialty and subspecialty anesthesia services including obstetrics, general surgery, complex cardiac surgery, major spine and neurosurgery, and orthopedic surgery, as well as acute pain management services.

“We felt that MEDNAX was the best strategic partner to help us grow our practice and navigate the changes occurring in the healthcare arena,” said Steven Dentz, M.D., who will serve as medical director for the practice. “MEDNAX’s research, education and quality initiatives will strengthen our practice and allow us to demonstrate our value to our hospital partners.”


That practice was solid with an excellent payor mix and a very nice salary for the partners. I'm willing to bet they got $2.5-$3.0 million each for the sale.
 
That practice was solid with an excellent payor mix and a very nice salary for the partners. I'm willing to bet they got $2.5-$3.0 million each for the sale.

I was born 30 years too late
 
That practice was solid with an excellent payor mix and a very nice salary for the partners. I'm willing to bet they got $2.5-$3.0 million each for the sale.

Word on the street is $2 million/partner, with nothing for the non-partners (or their employed CRNAs). All of the non-partners walked. About 1/3 of their CRNAs left (as Mednax slashed their pay). The pre-buyout partner pay was pretty good. Will have to wait and see where it ends up. This is in my town, in my healthcare system. Not encouraging.
 
Was about to say how come somebody always knows the details :)
 
Word on the street is $2 million/partner, with nothing for the non-partners (or their employed CRNAs). All of the non-partners walked. About 1/3 of their CRNAs left (as Mednax slashed their pay). The pre-buyout partner pay was pretty good. Will have to wait and see where it ends up. This is in my town, in my healthcare system. Not encouraging.

Another example of why a new grad needs to include a "buyout clause" in his/her contract. Any group may decide to sell during your track so be smart about it and ask to be included in the buyout if one occurs during your employment there.
 
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I am assuming a cave man born 30 years before cavemen would have been some sort of monkey... do you really think cavemen envied monkeys on their life style???

No, but I bet the cro magnons were like "****, those Neandertals had made."
 
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I would ask for either of 2 options:
1) You get all your buy-in money back if they sell (hey, at least you didn't lose anything)
2) You get a percentage of partner buy-out based on how far into the track you are (1 year into a 2 year track = 50% of partner buy-out).

#2 is exactly what they added to my contract. Thanks for the help!
 
Another example of why a new grad needs to include a "buyout clause" in his/her contract. Any group may decide to sell during your track so be smart about it and ask to be included in the buyout if one occurs during your employment there.

If they are in partnership track. Yes. Insist on buyout clause or some type of malpractice tail coverage. Alarm bells will ring if group won't offer even a tail coverage ($15-40k) depending how long you are staying.

Heck any W2 "employee" I would always suggest malpractice tail (or just plain occurrence/self insured coverage)
 
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http://www.businesswire.com/news/home/20160707006000/en/

East Texas Anesthesiology Associates Teams with U.S. Anesthesia Partners


ETAA to Benefit From USAP’s Resources and Technology Aimed at Improving Patient Care

July 07, 2016 12:12 PM Eastern Daylight Time


When I've read these articles referencing USAP, they mention "partnership" with the parent company. Does USAP function differently than Northstar or Sheridan? The website seems to claim they have a different approach than the other AMC's. Anybody know how true this is?
 
When I've read these articles referencing USAP, they mention "partnership" with the parent company. Does USAP function differently than Northstar or Sheridan? The website seems to claim they have a different approach than the other AMC's. Anybody know how true this is?

It's a fake partnership. (Unless u are the true owners who sold out and have a real stake in the company when the private equity company tries to take it public)
 
When I've read these articles referencing USAP, they mention "partnership" with the parent company. Does USAP function differently than Northstar or Sheridan? The website seems to claim they have a different approach than the other AMC's. Anybody know how true this is?
When a company doesn't want to give a person a proper salary, they give him a big title (to justify the workload). Many people fall for the scam.
 
When a company doesn't want to give a person a proper salary, they give him a big title (to justify the workload). Many people fall for the scam.

I'm not sure I totally follow.

Pay you less unless you work on committees and stuff?
 
I'm not sure I totally follow.

Pay you less unless you work on committees and stuff?
Nope. Call you "partner" for what's basically an employee-level salary, so that they can pretend more work from you. The suckers don't see that they are working disproportionately more than their income boost. I am not saying this is the case with NAPA, but that's where I'd put my money.

You see this in startups: they give employees big titles so that the person feels so important that s/he puts up with a lower salary.
 
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Nope. Call you "partner" for what's basically an employee-level salary, so that they can pretend more work from you.

You see this in startups: they give employees big titles so that the person feels so important that s/he puts up with a lower salary.

USAP has offered groups a buyout with cash and stock in USAP. So, you are a "partner" if you take the stock over the cash (some take 50% stock and 50% cash) because when USAP sells out to AMSURG or MEDNAX in 3-5 years there is a good chance you could double your money.
 
USAP has offered groups a buyout with cash and stock in USAP. So, you are a "partner" if you take the stock over the cash (some take 50% stock and 50% cash) because when USAP sells out to AMSURG or MEDNAX in 3-5 years there is a good chance you could double your money.
Or not, because it can get diluted by all the other suckers who invest in the company before it goes public. Plus the company is already big, the market is shrinking, and there are fewer low-hanging fruits remaining for future growth. Plus their internal valuation might mean exactly ****.

So I would take the cash, put those eggs in a different basket; definitely not the AMC stock, unless it's a public company with a 10-K etc. where one can clearly see all the important numbers, going back for years.

"Partners", my behind! This is awesome: they not only swallow the PP groups, they get to do it in exchange for paper that might be worth much less. Genius! :rofl:
 
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Anyone know what offers are for Northstar for Norton in Louisville? Was looking in that area next year. Sucks.

I'm sure all of their solid docs snatched up any other decent opening in area.
 
June 9, 2016 11:23 AM EDT
AMSURG CORP
+2.26
ON CLOSING, JUL 8
78.66USD

TEAM HEALTH HOLDINGS INC
+1.19
ON CLOSING, JUL 8
42.90USD

Moving on is the best revenge for surgical-center operator AmSurg.

The $4.4 billion company is reportedly in talks to merge with Envision Healthcare, a provider of physician services that's both bigger and arguably better than AmSurg's last beau, Team Health. AmSurg made two cash-and-stock offers for Team Health last year, both of which were rejected as too low. The latest proposal valued Team Health at $69.32 a share; it's now trading at about $45 after plunging as much as 7.7 percent on news of AmSurg's alternative deal.
 
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