Partnering with Our Healthcare MSO
The decision to partner with an orthopedic MSO can be daunting at first. Growth Ortho recognizes that. That’s why we offer our healthcare partners every assurance that they can still maintain their autonomy while improving patient service, as well as increasing income and profitability. And while there will be a new stakeholder in your practice, our presence will be beneficial to all. When you partner with Growth Ortho, your branding, patient medical practices, and key staff will remain in place. The alterations we make will be seamless and will not adversely affect the care of your patients.
Transparency From the Start
Before Growth Ortho partners with an orthopedic practice, they examine every facet of the organization. This is a transparent process, and the doctors and equity holders in the practice will know what we intend to do well in advance of signing the deal. We emphasize transparency because we want our physicians and other key employees to see that we are not trying to alter their practice in an uninviting manner. Once the business is acquired, we will begin making improvements.
How Growth Ortho Can Improve Your Practice
Our Patient First Approach
Growth Ortho places the well-being of patients before profits. Because you will still manage your practice, you will decide what works for your patients and what doesn’t. Our process is designed to improve the quality of care that we can provide and enhance patient satisfaction.
Growth Ortho is comprised of an ever-increasing collection of orthopedic practices. By unifying specific areas of support, we can not only reduce redundancies, but we can also experiment to determine which processes are the most effective. Many orthopedic practices have not had the time or resources to improve their business operations. The result is that their processes become a patchwork of short-term solutions that have remained in place for years. By standardizing these processes and minimizing redundancy, we can convert our member practices to models of efficiency and engines of profitability and growth.
One of the most challenging aspects of running a successful orthopedic practice is finding top-tier physicians to expand the patient base. Working with a prominent healthcare equity firm, like Growth Ortho, you will be able to draw from the most talented surgeons available. We understand that intangible qualities are also critical to the success of the practice, which is why the current physician staff is integral to the recruitment process. You will never be pushed to accept a doctor who would be a bad fit for your organization.
Growth Ortho believes in being the best in class in any market we operate in. After reviewing your practice’s existing equipment, software, and systems, we will determine what needs to be replaced or upgraded. This is an ongoing process as we strive to remain at the top of the industry. Your practice will benefit from being a state-of-the-art healthcare provider.
There are several advantages to being a part of a large organization. We have enhanced bargaining power when it comes to negotiating with payors, vendors, insurance companies, and more. We are also able to share our marketing in certain respects. The size of our brand carries weight in the healthcare industry, and your practice will benefit from that leverage.
Committing to a Healthcare MSO
Most orthopedic practice owners can immediately recognize the multiple advantages of joining a management services organization, but they’re concerned about their individual and organizational obligations to the MSO. At Growth Ortho, we believe in partnership and transparency with our affiliate medical practices. Any contractual obligations by the doctors or the practices will be listed during the negotiation process. We will even clarify points that our experience has shown us that may be of concern to onboarding orthopedic practices. We want you to be confident about your decision before you commit.
How We Protect Physician Autonomy
Maintaining physician autonomy is not only important for physician job satisfaction and patient welfare; it’s a core factor to the Growth Ortho business model. Here are some of the ways we protect our doctors’ autonomy:
- Branding – Practices retain their name and individual branding.
- Medical Decisions – Practice physicians make all clinical decisions regarding patient care.
- Scheduling – Doctors are not required to work more or improve productivity.
- Physician Recruitments – You will interview some of the brightest and most talented orthopedists as part of the physician selection process.
- Equity – Managing members have an opportunity to participate in equity sharing.
- Second Bite Board – Equity shareholders can help determine whether or not new partners are accepted as part of the MSO.