Premier Healthcare Professionals, a healthcare staffing firm based in Atlanta, announced that it acquired Field Health Ltd., which operates under the Adevia Health brand. “With the addition of Adevia Health, we are confident that PHP’s group revenues will exceed $140 million in 2021, up from $84 million in 2020,” said Eric Allison, director of corporate development at PHP. Adevia Health is an international nurse recruiting firm based in London. The company also has locations in South Africa, Nepal, Germany and Italy. “We are thrilled with the addition of Adevia Health and their team of 1,500 international RNs,” PHP CEO Chris Eales said. This is PHP’s third acquisition in 12 months and the company plans more acquisitions in the near future.
Investment funds managed by Morgan Stanley Capital Partners (“MSCP”), a Private Equity team within Morgan Stanley Investment Management, announced Thursday that they have completed an investment in US HealthConnect (“USHC” or the “Company”). MSCP is partnering with the current management team led by Frank Russomano, who will remain President and CEO and continue to drive platform expansion during the investment. USHC is a pioneering digital platform providing pharma-sponsored continuing medical education and promotional education to healthcare providers. Founded in 1999, the Company has evolved into an industry leader in digital medical education focusing on diversified areas such as oncology, cardiology, and women’s health.
The financial pressures presented by the pandemic have put their squeeze on physician pay, according to a new survey. Between 2019 and 2020, compensation for U.S. doctors grew on average about 1.5%, according to the fourth annual Physician Compensation Report from professional medical network Doximity. When compared against the 2019 inflation rate of 2.3%, physicians experienced a decline in real income over the last year, they said. “This year’s report shows how significantly the COVID-19 pandemic is impacting the healthcare industry,” said Peter Alperin, MD, vice president at Doximity in a statement.
Predictions of a physician shortage continue to climb and the COVID-19 pandemic will likely have both short and long-term impacts on the physician workforce. The United States could see an estimated shortage of between 54,100 and 139,000 physicians, including shortfalls in both primary and specialty care, by 2033, according to a report (PDF) from the Association of American Medical Colleges (AAMC). That’s higher than a previously projected shortage range for 2032 of between 46,900 and 121,900 physicians. The demand for physicians will continue to grow faster than the supply, according to the data published by the AAMC in June. By 2033, AAMC projects a shortage of primary care physicians of between 21,400 and 55,200 and a shortfall of non-primary care specialties of between 33,700 and 86,700 physicians.
As physician compensation reform and regulatory scrutiny continue to be a focus of attention, parties are putting forth a more concentrated effort to ensure physician compensation arrangements are considered fair market value (FMV). The regulatory environment surrounding physician compensation can often be difficult to navigate, while also trying to balance making competitive offers and attracting and maintaining top talent. The most significant laws guiding physician compensation arrangements are the federal Anti-Kickback Statute (AKS) and the Physician Self-Referral Law (Stark Law). To be compliant with these regulations, physician compensation must be set at FMV or risk potential for qui tam lawsuits, high dollar fines or even criminal charges. This article covers common mistakes that could potentially lead to violations of AKS or the Stark Law.
The pandemic has prompted one-fourth of U.S. physicians to consider early retirement, according to a Medscape survey of 7,414 healthcare professionals in eight countries.
The Stepping Stones Group (Stepping Stones), a leading national provider of therapeutic, behavioral health, and autism services to children in educational and community settings, announced the acquisition of Ardor School Solutions, the school division of Ardor Health Solutions. Stepping Stones is a portfolio company of Five Arrows Capital Partners, the North American corporate private equity business of Rothschild & Co. Merchant Banking. Founded in 2001, Ardor Health Solutions is a rapidly growing Healthcare Staffing Company specializing in the temporary and permanent placement of Physical, Speech and Occupational Therapists as well as PTA’s, COTA’s, CFY’s, SLPA’s, School Psychologists, and RN’s.
Life Link III announced Tuesday that they have acquired FlightBridgeED, LLC, a Kentucky-based critical care education company. The two organizations have shared a long history as strategic partners, brought together by their commitment to the advancement and delivery of critical care education and research. For the past decade, FlightBridgeED has specialized in providing pre-hospital, critical care, and emergency medicine education for healthcare professionals of all types. The organization focuses on advanced certification education by equipping users with award-winning tools, services, and modern, evidence-based practice continuing education.
America’s coronavirus epidemic has placed an outsized burden on the country’s health care providers, with many medical professionals on the frontlines risking their own safety to care for patients with Covid-19. That danger is particularly great for America’s older medical workers, whose age puts them at a higher risk of developing a severe case of or dying from Covid-19—and now, many are choosing to retire early, close their practices, or change the way they work.
TIME last week released its annual “100 Most Influential People” list, which this year includes a number of individuals who have made major contributions to health care.
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