Our years of experience in working with physicians have enabled us to successfully advise an emerging trend in today’s national healthcare market: hospital – physician ASC joint ventures.
There is a growing realization across the country that if a health system is not partnering with its physicians, then someone else probably will or just as disruptive, the physicians will venture out on their own. Members of the HCFP team have worked with several large hospital systems that have arrived at this crossroad but need help facilitating the joint venture process and developing the project into a successful operation.
Structuring, developing, and managing outpatient surgery centers is one division of our business. Health Care Facilities Partners crafts win-win partnerships between hospitals and their surgeons and builds long-term financial and relational value for our hospital partners. We believe that a hospital-surgeon joint venture doesn’t have to be viewed as a defensive measure, but if structured and executed correctly can over time be an avenue for hospital growth and sustained profitability. Health Systems are choosing Health Care Facilities Partners to facilitate their joint ventures for the following reasons:
• Unwavering Integrity – We have earned the trust of physicians, hospital administrators and other healthcare professionals. We have done so by exceeding expectations and fulfilling our commitments.
• Ability to Manage Multiple Relationships - We understand the delicate relationship between the physician’s desire for independence and the hospital’s desire for a successful project in keeping with their mission and values.
• Physician Focus – While ownership percentage and control are sensitive joint venture issues in physician-hospital partnerships, they are not nearly as important as maintaining good working relationships. Hospital systems are rightfully very cautious about whom they let interact with their medical staffs. Our experience with physicians and our ability to earn their trust is critical to our hospital partners.
• Facility Development and Management Expertise – Having us involved in your project lends independence to the project and helps to overcome surgeons’ fears that many of the traits associated with large institutions will carry over into their project.
• Flexible model – A controlling interest is not our goal, but, rather, we prefer to invest a minority interest in our projects, giving the majority ownership to our physician and hospital partners whose commitment warrants the larger share.
• Strong Recruitment Skills – HCFP management is highly trained, proven, and focused on recruiting additional surgeons to its projects. We have demonstrated an ability to provide recruitment assistance to our projects ensuring “same facility or same store” growth and increased profitability over time. Our ability to recruit outside physicians and incremental cases to a project helps our hospital partners justify the migration of cases from their ORs to a center where they have less than 100% ownership.