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NORTH STAR MEDICAL GROUP |
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North Star Medical Group (NSMG) is a newly formed primary care group, resulting from the merger among 13 MDs in 6 distinct practices. IHC is now working with NSMG’s Executive Committee to ready the group for formal “go live” on January 1, 2007. This accomplishment reflects some 8 months of work together, structured in a three-phase project: Opportunity Analysis; Development Process; and, Interim Management.
Working closely with a 4-physician Executive Committee, IHC has assisted NSMG to formally create a merged entity, secure its new TIN, and its shareholders have signed a shareholder agreement and compensation agreements. In addition, the Group has secured a $500K Line of Credit to finance operational start-up. Applications have been approved (a few remain pending) for a new, common provider number, allowing for collaborative billing and sharing of ancillaries. These actions were predicated on the findings of our Opportunity Analysis, which concluded that, by sharing investment in ancillary services and rationalizing operations, a profit improvement (i.e., increase in compensation) of some $700,000 was achievable. |
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