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Thoughts? Comments? PP coming back? Ship sailed? Writing on the wall? Envision you in trouble?
PP ship has sailed. Maybe the hedge fund backing NAPA has deeper pockets with the ability to weather the storm. Mednax was in deep trouble before this.Thoughts? Comments? PP coming back? Ship sailed? Writing on the wall? Envision you in trouble?
Not sure but we interviewed a NAPA doc last year. He would do a 24 hour call then drive an hour the next day to work at another hospital. Sounded like a really ****ty job. The 8k I just read from Mednax complained about labor costs outstripping revenue.Meet the new boss
Same as the old boss
Won't get fooled again, oh no, oh no, no
Don't get fooled again, no, no
Sounds like they acquired American Anesthesioogy (the anesthesia division of Mednax ) so the company still exists. In any event the job market has completely dried up so they don’t really need the non compete to keep you where you are.How does this effect non competes? Won’t mednax employees have to sign a new Napa contract for non compete to be valid or no?
Sounds like they acquired American Anesthesioogy (the anesthesia division of Mednax ) so the company still exists. In any event the job market has completely dried up so they don’t really need the non compete to keep you where you are.
Maybe the old private group could reform and take the contract?Sounds like they acquired American Anesthesioogy (the anesthesia division of Mednax ) so the company still exists. In any event the job market has completely dried up so they don’t really need the non compete to keep you where you are.
Not sure why NAPA thinks they can do any better. The revenue is what the revenue is and so are the expenses. Unless it is just some pump and dump scheme....Mednax was in deep trouble after their shenanigans were exposed, see Charlotte. Their constant threats to go out of network (and following through) was heinous.
Many systems have already or were moving towards new anesthesia contracts when deals came up. A “rebranding” was the only way it could continue, in my estimation.
I dont think this means anything for the national landscape. Mednax had done this to themselves and the damage to their already questionable reputation wasn’t sustainable.
Not sure why NAPA thinks they can do any better. The revenue is what the revenue is and so are the expenses. Unless it is just some pump and dump scheme....
Yea, really hope market gets better as someone graduating in 2021. Academics looks better and better compared to working for these huge corporations..Sounds like they acquired American Anesthesioogy (the anesthesia division of Mednax ) so the company still exists. In any event the job market has completely dried up so they don’t really need the non compete to keep you where you are.
I’m not sure. Looking at the K8 filing it looks like they acquired American anesthesia from Mednax for 50 million cash up front in total with the possibility of another 250 million if it proves profitable. Basically a fire sale. Maybe NAPA plans to dump the non profitable practices?What/who do you dump it to? What the end game? Is there one?
Maybe I need just bite the bullet and go get an MBA. This is depressing the **** out of me.
Market was fine until COVID. Who knows what will be after. Guess what, if the market contracts the academic jobs will suck too. Supply and demand, that’s all it is.Yea, really hope market gets better as someone graduating in 2021. Academics looks better and better compared to working for these huge corporations..
I’m not sure. Looking at the K8 filing it looks like they acquired American anesthesia from Mednax for 50 million cash up front in total with the possibility of another 250 million if it proves profitable. Basically a fire sale. Maybe NAPA plans to dump the non profitable practices?
And NAPA will do any better? They will just accept whatever $hitty reimbursement that the insurance is willing to pay? The OON thing is a national issue. NAPA, Mednax, makes no difference. Still the same personnel working for a similar company.Mednax was in deep trouble after their shenanigans were exposed, see Charlotte. Their constant threats to go out of network (and following through) was heinous.
Many systems have already or were moving towards new anesthesia contracts when deals came up. A “rebranding” was the only way it could continue, in my estimation.
I dont think this means anything for the national landscape. Mednax had done this to themselves and the damage to their already questionable reputation wasn’t sustainable.
And NAPA will do any better? They will just accept whatever $hitty reimbursement that the insurance is willing to pay? The OON thing is a national issue. NAPA, Mednax, makes no difference. Still the same personnel working for a similar company.
The strangest part about NAPA is that it started at Northwell, and staffs the anesthesia department at Northwell’s biggest hospital (North Shore). Yet somehow they are in competition with anesthesiologists directly employed by Northwell (at the few Northwell anesthesia depts that remain, such as Lenox Hill, Staten Island, and Southside)? How does Northwell as a hospital benefit from having these NAPA parasites around? Are they really saving that much in costs? Why can’t they just throw NAPA in the garbage and throw the garbage can down a hill?
Hospitals really do lot like to employee “ancillary” services like rads, er, anesthesia becauseThe strangest part about NAPA is that it started at Northwell, and staffs the anesthesia department at Northwell’s biggest hospital (North Shore). Yet somehow they are in competition with anesthesiologists directly employed by Northwell (at the few Northwell anesthesia depts that remain, such as Lenox Hill, Staten Island, and Southside)? How does Northwell as a hospital benefit from having these NAPA parasites around? Are they really saving that much in costs? Why can’t they just throw NAPA in the garbage and throw the garbage can down a hill?
But what’s ironic is that Northwell themselves, when they employ anesthesiologists at the few sites they have that NAPA hasn’t stank up yet, actually legit give contracts that are infinitely better than the “no contribution to your 401k” garbage that NAPA offers. NAPA not contributing to retirement is in and of itself is a loss of millions of $ to NAPA employees over the long run.Hospitals really do lot like to employee “ancillary” services like rads, er, anesthesia because
1. Those services do lot really bring in patients. A market they can control with advertising, recruitment.
2. ancillary services like anesthesia need to be kept on their feet. And if they became hospital employee. They could be the bottle neck delaying cases or postponing cases since they are w2 and harder to be let go of. It’s one thing to be third party w2 mednax/team health/Sheridan employee contracted to the hospital. Hospital can easily tell amc to get rid of someone. It’s harder when it’s hospital employee.
Hospitals really do lot like to employee “ancillary” services like rads, er, anesthesia because
1. Those services do lot really bring in patients. A market they can control with advertising, recruitment.
2. ancillary services like anesthesia need to be kept on their feet. And if they became hospital employee. They could be the bottle neck delaying cases or postponing cases since they are w2 and harder to be let go of. It’s one thing to be third party w2 mednax/team health/Sheridan employee contracted to the hospital. Hospital can easily tell amc to get rid of someone. It’s harder when it’s hospital employee.
Hospitals do not like to employ anesthesiologists radiologist er Docs.
Hospitals do not like to employ anesthesiologists radiologist er Docs.
thats what I meant.
Hospitals do not like to employ anesthesiologists radiologist er Docs.
thats what I meant.
Not sure why NAPA thinks they can do any better. The revenue is what the revenue is and so are the expenses. Unless it is just some pump and dump scheme....
Only getting $50mil cash on over 1 billion in revenue 2019 is beyond firesale. But I guess if you're anticipating over 150mil in losses from one division, even peanuts looks preferable.
I only quickly read it, but I thought the 250 million was a max on exit from the investment, which I took for the private equity company to flip it or take it public.They get $50M cash up front and then up to another $250M depending on the profitability of those locations going forward.
Since Mednax was so concerned about impending losses.... I wonder if Atrium has second thoughts about being the puppet employer via Scope now? They posted $30 million 1st quarter loss after large profits in 4 th quarter. I wonder if the Scope providers were smart enough to get contract guarantees or whether they are going to be at the mercy of Atriums financial needs.... they seemed pretty happy and open about how much money was being saved with “ new anesthesia providers”.... hmmm who”s salary takes a hit CEO of Atrium or CEO of Scope?))
Since Mednax was so concerned about impending losses.... I wonder if Atrium has second thoughts about being the puppet employer via Scope now? They posted $30 million 1st quarter loss after large profits in 4 th quarter. I wonder if the Scope providers were smart enough to get contract guarantees or whether they are going to be at the mercy of Atriums financial needs.... they seemed pretty happy and open about how much money was being saved with “ new anesthesia providers”.... hmmm who”s salary takes a hit CEO of Atrium or CEO of Scope?))
If you think their overall financial shortfall was due solely to Scope Anesthesia then you’re delusional.
Speaking of Scope, they are hiring.
GasWork.com - Reference #307047
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GasWork.com - Reference #307040
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pay seems good.