IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, announces its purchase of Fort Pierce Chiropractic effective Monday. The practice was purchased for an undisclosed amount, representing approximately 1x trailing twelve months cash flow. This acquisition further supports the Company’s focus on meeting increased demand and awareness for non-surgical movement and sports medicine services. Fort Pierce Chiropractic is IMAC’s third Florida acquisition this year.
Orthopedic supergroups are on the rise. Orthopedic surgeons are finding practical and strategic advantages to joining forces and integrating their organizations. For some practices, these orthopedic supergroups can represent the best possible way to remain competitive. But for others, the costs may outweigh the benefits.
Rezin Orthopedics & Sports Medicine (ROSM), an independent orthopedic practice with locations in Morris, Joliet and Ottawa, has completed an affiliation agreement with Morris Hospital & Healthcare Centers. Effective June 1, 2021, the practice is being managed by Morris Hospital & Healthcare Centers, and the practice name has changed to Morris Hospital Orthopedics & Sports Medicine. Founded in 1991, the practice includes five physicians along with 60 clinicians and support staff, and three office locations.
Orthopedic practice consolidation is expected to increase in the coming years as hospital systems, insurers and private equity firms continue to recruit physicians and smaller physician-owned practices explore strategic options in response to the COVID-19 pandemic. Here, two spine surgeons predict how consolidation will affect the future of the orthopedic field.
Orthopedic Care Partners (OCP), an orthopedic practice management platform comprised of The Orthopaedic Institute, The Steadman Clinic, and other leading affiliated practices, announced Monday a strategic practice affiliation with Motion Orthopaedics, a highly productive orthopedic practice based in St. Louis, Missouri. Founded in 2013, Motion Orthopaedics provides world-class, comprehensive care for musculoskeletal related injuries. The practice, led by Drs. David King and Timothy Farley, currently has 10 physicians with over 100 years of combined experience in the St. Louis market.
Healthcare Outcomes Performance Company (HOPCo), the national leader in musculoskeletal practice and outcomes management and value-based care solutions, has entered yet another state through the formation of a partnership with Reno-based Spine Nevada and its affiliated brands, Swift Urgent Clinic and Vein Nevada, known as HOPCo Nevada. This will create an innovative platform for integrated musculoskeletal and vein care throughout Nevada.
Spine surgeons from Philadelphia-based Rothman Orthopaedic Institute discuss topical issues in the field today, including practice challenges, bundled payments in spine and how hospitals will react to orthopedic procedures accelerating toward ASCs.
The U.S. Centers for Medicare & Medicaid Services (CMS) has extended the Comprehensive Care for Joint Replacement (CJR) payment model. That’s welcome news for home health operators, as CJR has been a key program for participating agencies since its implementation. Introduced in 2016, CJR essentially allows CMS to hand out bonuses or inflict payment penalties to providers based on how well certain hip- and knee-replacement patients are cared for.
Understanding how to navigate payer relationships is critical for orthopedic practices to succeed. Three surgeons spoke to Becker’s Spine Review on the biggest challenges they see with payers.
Hospital officials knew outpatient migration was on the horizon for many years, but are now rethinking strategies quicker than expected as many factors, including the COVID-19 pandemic, accelerated the trend. Other factors driving the momentum include technological advances, surgeons becoming more facile at minimally invasive techniques, as well as patients’ and payers’ demand for lower-cost care.
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