Physician Practice Valuation Expert: Look Before You Leap

A local expert has a simple message for physicians looking to sell their practices: Look before you leap. Don Barbo, a Deloitte Financial Advisory Services director, specializes in valuation of physician practices. He had practice management experience before becoming a valuation specialist in 1998. The number of hospital-owned physician practices reached 55 percent in 2009, up from 50 percent in 2008 and 30 percent five years ago, according to the Medical Group Management Association. The pace of acquisition has not abated. Most often, hospitals call Barbo to place a value on potential acquisition targets. However, physicians occasionally call him for… Full Story

Morning Rounds (09.27.12)

Prime Healthcare Services  has purchased Dallas Medical Center, a 155-bed full service acute-care hospital in Farmers Branch.

Three North Texas companies have made Modern Healthcare’s “Healthcare’s Hottest” list.

Two Dallas clinics have been awarded $500,000 in grants under the GE Foundation’s Developing Health initiative.

The U.S. Supreme Court has taken on three healthcare cases. Full Story

Southwestern Medical Foundation Names Kathleen Gibson President and CEO

Kathleen Gibson has been named president and CEO of Southwestern Medical Foundation. In her new role, she’ll work closely with chairman William T. Solomon, the foundation’s board, and its executive management team. Gibson previously served as executive vice president of the foundation, which supports UT Southwestern Medical Center and its affiliates. She also served on the foundation’s board of trustees’ investment committee. Prior to that, she spent 25 years with Bank of America and its predecessor in Dallas, where she held management and leadership roles in corporate banking, commercial banking and asset management. From 2003 to 2006, she was president of… Full Story

Morning Rounds (09.26.12)

Fred Meyer, vice chairman of the board and CEO of The Cooper Institute, died September 24 at the age of 84.

A co-defendant of a Dallas physician has pleaded guilty to Medicare insurance fraud in a $375 million case.

Parkland Health and Hospital System  reports that it’s more than 80 percent complete with its corrective action plan.

In rural communities, residents are more likely to travel more than 20 miles to larger medical facilities instead of going to local hospitals, study finds. Full Story

Residency Slots in Texas Not Keeping Up With Medical School Enrollment Growth

U.S. and Texas medical schools are expanding enrollment to address the growing physician shortage. Nationally, they’re on track to increase medical school enrollment 30 percent by 2016, a goal called for by the Association of American Medical Colleges. However, association president Darrell Kirch bluntly states, “This won’t amount to a single new doctor in practice without an expansion of residency positions.” Those training to be physicians attend four years of medical school. Upon graduation, they receive their M.D. or D.O. degrees and finish their preparation as residents, also called graduate medical education (GME). GME residents treat patients, usually in hospitals, and… Full Story

Baylor Cancer Hospital Named for T. Boone Pickens, Who Pledges $10 Million

Baylor’s new cancer hospital now has a new name: Baylor T. Boone Pickens Cancer Hospital. The entrepreneur pledged to give $10 million to support cancer research at Baylor Health Care System. The recently completed, 175,000 square-foot Baylor T. Boone Pickens Cancer Hospital is the first dedicated cancer hospital in North Texas. “No matter what industry you’re in, from energy to healthcare, it takes bold people who have vision, a commitment to excellence and a passion for efficiency to reach new levels of success,” said Pickens at a ceremony Monday. “Baylor brings that attitude and commitment to providing health care to… Full Story

Morning Rounds (09.25.12)

Methodist Health System will break ground Sept. 27 on a $120 million hospital expansion at Methodist Richardson Medical Center.

Mandatory spending cuts to Medicare will mean large-scale job losses in physician offices and throughout the healthcare system.

UTA‘s College of Nursing and School of Social Work is using a $900,000 grant to help improve connections between nurses and social workers.

Those with high blood pressure tend to experience poorer sleep quality, according to a report presented to the American Heart Association.

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Expert Warns Health Benefit Managers: Time Is Running Short on Reform Changes

Jane Jensen, a senior consulting actuary for Towers Watson, asked for a show of hands: How many businesses have calculated the cost of continuing to offer health benefits, compared with sending employees to the health-insurance exchanges in 2014? Out of crowd of more than 100 attendees at last week’s Dallas-Fort Worth Business Group on Health (DFWBGH) luncheon, you could count the raised hands on one hand. Jensen, Towers Watson’s lead actuary on health care reform issues, reminded the audience that the law requires that employers must notify their employees about the existence of the exchanges—and how their plans compare with those… Full Story

Morning Rounds (09.24.12)

Physician-owned hospitals face a growing threat of consolidation, according to a report from Modern Healthcare.

Becker’s Hospital Review has named two local executives to its “100 Hospital and Health System COOs to Know” list. Find out who.

Here are four top reasons hospitals should become involved in social media, from Health Leaders Media.

According to the American Heart Association, obesity affects the blood pressure of black children more seriously than white children. Full Story

Study: 90% of Healthcare Providers Plan to Freeze Hiring or Cut Staff in 2013

Hospital supply-chain costs are expected to rise by a moderate 2.9 percent in 2013. However, nine out of 10 healthcare providers plan to freeze hiring or cut staff next year. Irving-based group purchasing agency Novation this week recently released a pair of annual reports: the Budget Impact Projects Report and the National Economic Impact Survey. Novation represents more than 65,000 members of VHA Inc.. “Economic information and effective cost management are more important than ever to the health care organizations we serve,” said Pete Allen, Senior Vice President, Sourcing Operations, Novation.  “Financial pressures continue to squeeze hospital budgets, and our… Full Story