NAPA MEDNAX one big family now
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View MEDNAX press releases for information regarding acquisitions, conferences, quarterly performance results and more.
www.mednax.com
just got word my group now is part of NAPA. Did we go from bad to worse or status quo?
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.
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Jag offs.
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deleted126335
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
Same as the old boss
Won't get fooled again, oh no, oh no, no
Don't get fooled again, no, no
Jag offs
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.
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.
the noncompete prevents another group from coming in and taking the hospital contract from NAPA and hiring all the docs currently working there.
I'm hoping somebody tests this and gets a noncompete thrown out because there are some nice locations I would like to take over if I could hire the same docs already working there and prevent the need for mass locums for a few months.
Maybe the old private group could reform and take the contract?
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.
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....
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.
Yea, really hope market gets better as someone graduating in 2021. Academics looks better and better compared to working for these huge corporations..
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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?
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.
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deleted941485
Fire sale huh? Wow. That seems low to acquire mednax entire anesthesia practice.
Also I have several friends who work at NAPA practices, let’s just say they had a reputation for working their cogs hard and having a crappy compensation structure. Things haven’t changed much.
In some ways I’m not surprised they are the ones buying
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.
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deleted941485
Just when you thought your corporate anesthesia job couldn’t get any ****tier...then NAPA comes to town.
No joke I have a friend in admin there. They have soo much backroom beauracracy it’s unbelievable. All he talks about is loading up practices on crnas 4:1 supervision to cut labor costs. I’m like if you wanna cut costs take a look in the mirror.
Seems like the worst things in life just go on and on and on
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?
i heard they wanted to get rid of NAPA but couldnt. not sure exact cause but something along the lines of NAPA would be taking all their anesthesiologists away probably due to non compete and northwell would not have anywhere near enough people to run the ORs..
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.
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.
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Arch Guillotti
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Hospitals do not like to employ anesthesiologists radiologist er Docs.
thats what I meant.
Arch Guillotti
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I agree.
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deleted941485
Has anyone contacted their ASA rep about this. I mean have they been monitoring the situation? I mean you take mednax contracts will make them the only show in town.
Also, northwell has hybrid but my guess is with all the COVID crap they’ll want to dump any employees they have on Napa to deal with.
Also, northwell has hybrid but my guess is with all the COVID crap they’ll want to dump any employees they have on Napa to deal with.
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deleted126335
They just want access to our revenue stream. Employment facilitates this. Of course, it doesn't always work out for them.🙂
Who We Are - North American Partners in Anesthesia (NAPA)
Who We Are Comprehensive solutions for anesthesia care, operations, revenue, and talent. Anesthesiology Results Anesthesiology plays a vital role at every stage of the surgical experience, creating countless opportunities to elevate a hospital’s surgical services. Optimal...
napaanesthesia.com
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I'd be willing to bet that NAPA feels like with greater market share in more locations that they can begin to negotiate higher reimbursement rates with insurers and enhance their margins across the board. If their reputation preceeds them, they probably anticipate at lease some personnel attrition, and with the pandemic anyone looking for a job in anesthesia at the moment is probably in a tough position without any leverage to walk away from a low ball offer. The combination is instant savings on labor.
Mednax began admitting that their investment in anesthesia was misguided once the pandemic hit and things really tanked. Clearly misjudged how anesthesia differs from their core neonatology practice and how different it is to be the marketshare leader (they control something like 65% of the NICU beds in the US) vs just another AMC.
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.
They get $50M cash up front and then up to another $250M depending on the profitability of those locations going forward.
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.
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?🙂))
What does Mednax sale have to do with Atrium? It is a former location that was sold off so the deal with NAPA is not related in any way to current goings on at Atrium. As for Atrium, they are getting bailed out like every other hospital in the country right now. Based on their size, I'd assume they have already received at least $50M-$100M in the last month. They will use that money to offset the cost of everything including anesthesiologists and CRNAs.
If you think their overall financial shortfall was due solely to Scope Anesthesia then you’re delusional.
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deleted941485
Well when COVID settles the only AMC in town will be Napa
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deleted87051
Speaking of Scope, they are hiring.
GasWork.com - Reference #307047
GasWork.com - Reference #307040
Speaking of Scope, they are hiring.
GasWork.com - Reference #307047
www.gaswork.com
GasWork.com - Reference #307040
pay seems good.
Cardiac and neuro chief..... not it.
