I remember PhyCor and Joe Hutts. They did do well for a time, but if I recall, they eventually became more focused on tweaking the physician practice, and raked in management fees in more of an advisory role vs. rolling up and owning a bunch of independent practices.
Of course! Really enjoy your writing. Wish we could holler it from top of one of Nashville’s tallest building. Healthcare made the fortunes in this town over the last 50 years. Music and tourism don’t even come close.
Well done. I graduated from the capitated multi-specialty PPM business in mid-June 1997. We had a good run and achieved cash flow breakeven in three years. We also saw what the public companies were buying and how they used pooling of interests accounting and weak (that is the nicest adjective I can use) medical loss ratio accounting to overstate enterprise value. So the first board meeting after achieving my initial financial goals as CEO we decided to exit the sector. I figured that in another year we would have double the revenue and half the value. Saddest business day of my life but whether through smarts or luck it was the right move for founders and investors.
Ok son of mine, I love my independent direct primary care doc, thank you very much.
But here is another question: Why does a Pfizer drug, mainly designed for the Medicare crowd(yes that’s me) cut off use of their discount card (so the med is only $20) when you start Medicare? And as I priced it at Walmart yesterday, it would cost me $2,000!!! I have been getting it from Canada for $200 but alas they are out of stock- wonder why!
Incredible analysis, insights and conclusions. Thanks for the powerful thought leadership!
Thank you!
I remember PhyCor and Joe Hutts. They did do well for a time, but if I recall, they eventually became more focused on tweaking the physician practice, and raked in management fees in more of an advisory role vs. rolling up and owning a bunch of independent practices.
Interesting, thank you for sharing! Seems like they did very well for a while.
Of course! Really enjoy your writing. Wish we could holler it from top of one of Nashville’s tallest building. Healthcare made the fortunes in this town over the last 50 years. Music and tourism don’t even come close.
Well done. I graduated from the capitated multi-specialty PPM business in mid-June 1997. We had a good run and achieved cash flow breakeven in three years. We also saw what the public companies were buying and how they used pooling of interests accounting and weak (that is the nicest adjective I can use) medical loss ratio accounting to overstate enterprise value. So the first board meeting after achieving my initial financial goals as CEO we decided to exit the sector. I figured that in another year we would have double the revenue and half the value. Saddest business day of my life but whether through smarts or luck it was the right move for founders and investors.
Ok son of mine, I love my independent direct primary care doc, thank you very much.
But here is another question: Why does a Pfizer drug, mainly designed for the Medicare crowd(yes that’s me) cut off use of their discount card (so the med is only $20) when you start Medicare? And as I priced it at Walmart yesterday, it would cost me $2,000!!! I have been getting it from Canada for $200 but alas they are out of stock- wonder why!