| 8:45 am - 12:00 pm
|| Strategy and Private Equity
Private Equity (PE) firms began making significant investments in the healthcare industry in the late 2000s, and multiple media sources report that PE healthcare investments are dramatically increasing. Radiology has received increasing interest from PE. Yet, radiologist have a limited understanding of how the PE business model works, or how their life would change in a PE-backed radiology practice. This session is designed to provide a working knowledge of private equity, outline alternative “investment theses” that PE firms would pursue, and review what it would mean to work for or compete against a PE-backed radiology practice. The session will include both a presentation by a former PE Managing Director and CEO of a PE-owned healthcare company, and facilitated small group breakout discussions addressing specific topic such as “What PE brings to the table/Why to sell to PE,” “What tactics does PE use to drive performance/wealth vs. work,” and “What happens in 7 years/managing the PE exit.”
| Bret Bero
|1:30 - 5:00 pm
Preventing (or not) the Loss of Your Hospital Contract: The Role of Corporatization
This interactive case study will cover many of the opportunities and issues facing practices today. These include alignment, hospital contract competition, responding to RFPs, Covid-related challenges, on site versus remote hospital coverage, non-compete clauses, and dealing with the problematic partner/associate. Special attention will be given to the rise of corporatization and the implications that this phenomenon has on our specialty. Attendees will discuss real-life problems and develop strategies that they can immediately implement into their own practices.
The Bigger They Are, The Harder They Fall: Radiologist Supply Chain Disruptions Come to Carol Ardorly and the Moniz Medical Center
The situation at Moniz Medical Center in Santa Barbara, California, has reached a critical point, as the hospital is facing a staffing crisis that could have serious consequences for patient care. The Chair of Radiology, Carol Ardorly, is struggling to find overnight emergency radiologists to cover Serra Community Hospital, a crucial part of the hospital system. To address this problem, Dr. Ardorly turned to a teleradiology service provided by a large national radiology practice, “BlastRad”, which was able to deliver fast and efficient results for the emergency department.
However, the hospital's fortunes just took a turn for the worse. Dr. Ardorly and her Vice Chair for Clinical Operations, Tom Brogdan, recently received the shocking news that twenty-five radiologists from the local community, who were working for the national radiology practice, had given notice and would be off the job in just 60 days. As a result, the teleradiology contract for Serra Community Hospital would be canceled, leaving the hospital without the overnight emergency radiologists it needs to provide critical care to patients. In addition, the evening, night, and weekend coverage at Forssmann Medical Center, Moniz's sister hospital, would also be canceled, further exacerbating the staffing crisis.
The hospital administration has turned to Drs. Ardorly and Brogdan for a solution to this urgent problem. The sudden loss of a significant portion of the radiology staff could have serious consequences, including longer wait times for diagnostic results, misdiagnoses, and delayed treatment. The situation is complicated by the fact that finding qualified radiologists to fill the vacancies on short notice may be difficult, especially in a competitive job market. Drs. Ardorly and Brogdan will need to act quickly and decisively to ensure that the hospital can continue to provide the highest quality care to its patients.
Join us as we unpack the challenges facing Drs. Ardorly and Brogdan as they consider how to deal with this sudden crisis.
Lawrence R. Muroff, MD, FACR
Geoffrey D. Rubin, MD, MBA, FACR