Who's In...Who's Out?

It's September...the home stretch for baseball's 2017 regular season.  We'll soon know who's going into post-season play and who's out.

Regardless of whether a team exits the race early or advances to the World Series, all MLB GMs are tasked with addressing team needs to bolster playoff hopes or prep for the next season.  Their needs are generally unique.  Take the Phillies, for example.  This season they needed pitchers while the Mets needed players that stayed healthy.  And so it goes for all 32 teams...

The scenario reminds me of healthcare service platform companies.  Whether backed by private equity or publicly-owned, their management is generally focused on growing or gaining market share.  Take physical therapy - a sector we know well.  There are more than 20 PT platforms in the US, each with a unique seller profile, target geo or specialty and of course, budget.

For practice owners contemplating a sale, evaluating which platforms to approach can be overwhelming - and that's only a small part of the sales process.  As business brokers, our team touches all bases:  scouts the prospective buyers, manages due diligence, negotiates the contract and delivers the best deal for your business.

So, if you're interested in Selling...Call us (610-527-8400).  Let's hit one outta the ballpark together.

Athletico Partners with Harvest

For their next phase of growth, Athletico can rely on Harvest Partners.  The private equity firm recently announced their investment in Athletico, the Chicago-based physical therapy business with 80 clinics throughout Illinois, Indiana and Wisconsin.   >>Read more

Commenting on the partnership, Athletico's President Mark Kaufman noted:

"We chose Harvest as our partner because they support and share Athletico’s goal of providing excellent preventative care… The partnership will bring this mission to new markets via continued organic growth and strategic acquisitions.” 

Harvest has partnered with other healthcare companies within the last few years.  See AxelaCare Finds Harvest Home

Facebook and PT?

What do they have in common? 
On the surface…not much.
However, Facebook's interest in Oculus, a virtual reality company, could do much to spur the adoption of telemedicine in a variety of specialties, including physical therapy.  >>Read more

“After games, we’re going to make Oculus a platform for many other experiences. Imagine… consulting with a doctor face-to-face — just by putting on goggles in your home.”       ~Mark Zuckerberg, Facebook Co-founder

VR therapy for phantom pain

The potential virtual reality application in physical therapy would address the phantom pain experienced by roughly 70% of amputees.  Current treatments include drugs, acupuncture, hypnosis and "mirror therapy" but don't always work.  VR therapies have been developed and tests conducted with more clinical studies needed to better assess the effectiveness.   >>Learn more about the VR approach to reducing phantom pain.

Almost Family…Continues Buying Spree

Louisville-based Almost Family is planning to fold yet another home health facility into its operation of over 240 home health locations.  The organization entered into an agreement to acquire a 25-bed facility from Caldwell Medical Center in western Kentucky.  Almost Family operates two subsidiaries:  Visiting Nurse (home health nursing, physical therapy, etc.) and Personal Care (custodial and personal care services) with a presence in 14 midwest and eastern states.  The acquisition is expected to close before May.  Read more 

The latest purchase follows the SunCrest Healthcare acquisition in December.  Click here for more information.

Cause for Celebration at ATI

Management and staff at ATI, the nationally-recognized provider of outpatient orthopedic rehabilitations, deserve HIGH- FIVES.  In 2013,  ATI has steadily acquired clinics in key mid-atlantic and midwest states: Delaware, Maryland, Pennsylvania, Illinois, Indiana, Wisconsin.  In fact, over 20 clinics have been added under the ATI banner.  We're pleased... as our former client, MX Physical Therapy, was acquired in January and is part of ATI's growth to date.

Top 10 Healthcare Workplace
Kudos to the Bolingbrook, IL-based organization… for recognition as a Top 10 healthcare company based on results of the yearly WorkplaceDynamics survey.  The survey measures employee satisfaction, engagement, organizational health.  Overall, ATI was ranked #54 of the 872 companies (with 1000+ employees)  participating in the top workplaces programs.  >>Learn more

In the Spring, ATI was also recognized regionally as a top workplace in the Philadelphia and Indianapolis regions, respectively.

As a proud President and CEO, ATI's Dylan Bates noted:

“As we look to the future, and as our company continues to grow, we are even more determined to provide an environment in which our employees can enhance their skills, succeed in the field of their choice, and grow from the positive experience of having excellent outcomes for our patients,” 

Good Job ATI...

Direct Access in All 50

Done deal!  Indiana, with signed legislation, becomes the last state to allow residents to seek physical therapists’ services without a physician referral.  The state chapter of APTA has been working on Direct Access for over 13 years... now a reality beginning July 1st.

Benefits of Direct Access include a patient’s quicker access to care and medical cost reduction.  >>Read more

Clinic Efficiency Tips...Worth Repeating

In the words of Dictionary.com:  
ef·fi·cien·cy [ih-fish-uhn-see]:  accomplishment of or ability to accomplish a job with a minimum expenditure of time and effort.

Efficiency...We’re always trying to improve upon it whether at home or work.  The weekly PPS multibriefs newsletter recently offered key efficiency tips for rehab therapy owners - which can clearly be leveraged by other healthcare-related clinics. 

Quick Tips:

1. Establish a process and share with staff & patients
2. Keep traffic flowing.
3. Avoid handoffs:  one focused staffer best.
4. Huddle up.. review daily schedules with staff
5. Create a culture of timeliness.  Respect time of others.
6. Find your groove...what’s your best work style?
7. Get techy.  Today’s devices are time savers.

>>Read more

Patients Asked, ZoomCare Answered...

ZoomCare, a company that bridges the gap between ER and primary care physician visits took action based on patient input... adding physical therapy treatments in 2 of its Portland clinics. 

Co-CEO Dr. Dave Sanders recounted that, "ZoomCare customers have been asking us for years to offer a PT service with all the convenience, quality and low cost features they love about ZoomCare everyday care....”.  He added “PT is a great fit for Portland's active, outdoor community."

Founded in 2006, the Portland-based urgent care chain has grown to 18 clinics in Oregon, Washington and Idaho. In addition to same-day scheduling, the clinics give patients a guaranteed visit time, issue no bills, have an on-site laboratory and pharmacy and charge the same price for all visits.

Source:  Portland Business Journal

Physical Therapy Goes to Work...

A 2011 survey of employer health plans revealed that 31% of big companies offered on-site clinics with another 9% considering them.  Physical therapy is a frequent add-on to the traditional clinic "wellness" services.  Other offerings driven by the needs of workers, locale or industry include dental exams, mental health counseling, acupuncture, massage therapy, etc.  While not a revenue stream, add-on services have helped maintain productivity and proved to be an effective staff retention and recruitment tool.  >>Read more
Kaiser Health News - By Michelle Andrews - June 18, 2012