Partying Outside The Big Easy...

While football fans party at Super Bowl festivities in New Orleans, Oceans Healthcare is reveling in $40M+ in investments from General Catalyst Partners and MCG Capital Corporation. 

The Lake Charles, LA-based company specializes in the development and management of behavioral health services – focused on geriatric patients – operating over 10 facilities throughout the Bayou State.  Oceans Healthcare looks to expand to underserved communities located throughout Texas, Mississippi, Alabama, Arkansas. 

Money isn't Everything...Or is it?

Entrepreneur.com shares some interesting observations about employee motivation in the Infographic:
"Mo Money, Mo Problems".  
Motivated employees are critical to business success... they contribute to an increase in productivity and revenue.  That’s certainly reason enough for business owners to work hard to keep employees engaged in their jobs.  Authored by Gary Chapman and Paul White, The 5 Languages of Appreciation in the Workplace, offer owners a motivation "primer".

Employee Motivation Checklist

1. Words of Affirmation
2. Act of Service
3. Quality Time
4. Physical Touch
5. Tangible Gifts

New CPT codes = More Pay to Docs

$600 million – that’s what Medicare estimates it will pay to practices in 2013 for managing patient transitions from hospitals or skilled nursing facilities, according to American Medical News.

New CPT codes will allow physicians to bill for previously unreimbursed care-coordination.   A result of the AMA working with Medicare since last year, the codes cover:   

• Efficient reporting of time spent discussing a care plan
• Connecting patients to community services
• Transitioning patients from inpatient settings and preventing readmissions

Additionally, the codes, in effect since January 1, cover complex chronic care coordination.  The new CPT codes are: 99495, 99496, 99487, 99488, 99489. Review new code descriptions here.  No decision yet as to whether commercial insurers will accept the new codes. 

Healthcare M&A: Glance Back...Look Ahead

In their recently released report, finance firm, Berkery Noyes, sized up healthcare M&A in 2012.  Highlights included:

• 21% increase in transactions (vs. 2011)
• Slight increase in transaction value (5%): $11.36B to $11.96B
• Increase in Healthcare IT segment deals by 11%
• Substantial interest in the mobile application sub-sector  

M&A activity in 2013 is predicted to be robust according to Irving Levin Associates, a research and publishing firm.  Various investment and consulting experts suggest that healthcare acquisition targets will likely include:

• Hospitals
• Physician Practices (by Hospitals)
• Skilled Nursing Facilities
• Small Home Healthcare Companies

Dermatology Associates of Tyler Get a Partner

Candescent Partners, LLC with co-investors Eagle Private Capital and Harbert Mezzanine Partners announced the acquisition of Dermatology Associates of Tyler.  The East Texas-based provider of medical and cosmetic dermatological services currently has four offices, including a pathology lab and surgery center.  Dr. Lawrence Anderson co-founded the business in 1996 and post-transaction will lead a staff of 10 doctors as the practice continues to grow. >>Read more 

DermOne Acquisition Arm Stretches to NC

 Leading dermatology services provider, DermOne Dermatology Centers completed two acquisitions in late 2012.  Formerly known as Accredited Dermatology founded by Dr. Rami Geffner, DermOne features a network of 35 locations.  Another New Jersey location was added with the practice of Dr. Isaac Mordecai, a specialist in medical and cosmetic dermatology.  Additionally, DermOne acquired Atlantic Dermatology of Wilmington, NC under the leadership of Dr. Jonathan Crane.  DermOne CEO, Ron Geraty noted that, 

“...With the acquisition of Atlantic, we are launching our efforts to grow beyond our core markets in New Jersey and Pennsylvania and see this as the first of many steps toward becoming a national company...”  >>Read more

Dental Services Cos. Honored As Job Creators

Four dental services companies started 2013 with something to Smile about.... inclusion on the 2012  Inc. Magazine's Hire Power Award List.  The inaugural list spotlights businesses doing their part to rebuild the US economy as it ranked for-profit and nonprofit companies on the number of new jobs added from 2008-2011.

Pacific Dental Services and Heartland Dental Care are featured among the top 10 Hire Power list honorees.  Joining them is Great Expressions Dental Centers and Smile Brands listed on the top third of the list.  According to Inc. president, Robert LaPointe, the list’s 100 companies accounted for 73,000 jobs that totaled $5B in tax revenue.

Inc. Hire Power Awards Ranking:

#4:     Pacific Dental Services  +1451 jobs

#6:     Heartland Dental Care  +1150 jobs

#25:   Great Expressions Dental Centers  +600 jobs

#31:   Smile Brands  +551 jobs

Hectic Fall for Heartland

Heartland Dental Care’s CEO, Richard Workman, is likely still smiling from a gratifying finish to 2012.    

After seeking a buyer in early September, the Ontario Teacher’s Pension Plan (Canada) agreed to buy a majority stake in Heartland Dental Care outbidding traditional buyout funds run by KKR, Madison Dearborn Partners and Apax Partners.  The estimated value of the deal is $1.3B.  Workman, together with management and employees retain a minority stake in the company.

Later in the Fall, Heartland with 370+ affiliated US dental practices was recognized on Inc. Magazine’s "Hire Power" Awards list – a salute to US job creating companies (within the last 3 years).  Heartland created 1,150 jobs. 

The Midwest-based company that provides leadership and support services to dentists  experienced a busy December.  Numerous practices were added to its affiliate list, most notably, Goldstein, Garber & Salama, LLC, an 83-year old Atlanta-based dental practice specializing in cosmetic dentistry.

Step Up...to the Next Level in 2013

It’s Officially the New Year!  Time for a few obligatory resolutions.  Consider Entrepreneur Magazine’s 10 Steps to fast forward business growth in 2013.

1. Move forward even in uncertain times.      
2. Tap your employees.
3. Reconnect with your purposes.
4. Diversify your income opportunities. 
5. Adopt value pricing.
6. Hire rainmakers.
7. Set aggressive growth goals.
8. Measure every marketing activity.
9. Pay attention to the experience.
10. Try doing what you tend to avoid.

>>Click here for more details.  Happy New Year!