MISSION VIEJO, CA (August 1, 2010) – Sovereign Healthcare today announced that, in addition to continuing to work with physicians on the development and management of outpatient surgery centers, it is formally launching an effort to expand its services in assisting physician groups with the management of their practices.
Sovereign’s CEO, Jeremy Hogue, described the rationale for the announcement as follows: “Since 2004 when we started providing executive level services to the Kerlan Jobe Orthopaedic Group, and then took on the complete, day-to-day management of the Santa Monica Orthopaedic Group in 2005, we’ve been helping physicians turn their practices into strong businesses. We’ve worked with dozens of practices in various levels of engagements, but we’ve simply never formally announced it as something we do. Since the need is only growing and the number of physicians asking for our assistance is only increasing, we are formally announcing this service line as part of our company and devoting substantial resources to make sure we can handle a great deal more than we have been in the past.”
Sovereign’s approach to physician practice management is different than others in the market who customarily only provide billing and collection services for a fee. Sovereign starts each engagement with a practice audit that allows its team to assess the whole of the practice operations and then educate the physician owners on what is working, what isn’t, and where they should focus their efforts. Then, the physician owners decide the scope of the relationship and Sovereign’s team goes to work.
“Sovereign is our partner,” said Bert Mandelbaum, orthopedic surgeon at the Santa Monica Orthopaedic & Sports Medicine Group. “They aren’t some outsourced group, they are part of our team. We’ve always been a group of great doctors, but with their help and leadership, we now have a great business that our shareholder physicians understand. We are well situated for growth, and ready to adapt to the dynamic healthcare market we are in. And none of it would be possible had we not worked with Sovereign.”
Healthcare reform is driving much of Sovereign’s decision to announce this effort. “The landscape is changing rapidly,” said Hogue. “The ability for doctors to remain in private practice is being threatened. Between hospitals acquiring practices, IPA’s and other big primary care groups calling themselves ACO’s and taking risk from the health plans, and the implementation of the recent health reform legislation, the relationship between doctor and patient – for the physician specialists more than anyone – is being changed in very fundamental ways. Everything from allowing patients access to you, to how you get paid, and how much you get paid, to new requirements for reporting outcomes and adoption of new IT systems - - it’s all evolving. Now more than ever, the specialists in a community need to be informed and proactive.”
And it’s more than just billing and collections and help with contracts that Sovereign is offering. “That’s very true,” Hogue said. “While we do contracting and billing and collections in a unique way that we think is better than anyone else we’ve seen, there really is much more to it. Today more than ever, there is so much to consider: Do I contract with an IPA? What’s my relationship with the hospital? Should I be joining with a group of doctors to form a ‘super group’? Are there ancillary income opportunities I may be missing? And how do I make sure my day-to-day operations are well-run and efficient? All of these things are where Sovereign provides leadership and execution help with a sophisticated business partner.”
Physicians seeking more information should contact Sovereign Healthcare at 949-706-9900.
About Sovereign Healthcare:
Sovereign Healthcare is a privately-held healthcare services company headquartered in Orange County, California, which works with leading physician specialists to develop and operate premier outpatient surgery centers, and in addition, assists physician specialists with the management and operation of their practices. Sovereign’s market focus is Southern California and the greater-Phoenix area of Arizona.