Norwalk Hospital

Norwalk Hospital is a 300-bed private, not-for-profit, voluntary acute care community hospital located in Fairfield County, Connecticut. One of the hospital’s key strategic initiatives is to increase market share through the growth and expansion of the community physician network.  IHC has been retained to provide the following services:

Community Practice MSO Services

The hospital currently has 60 employed physicians. This number is projected to double over the next several years. The hospital recognized that the operational and financial services required by these physician groups could not be adequately provided for with the hospitals current systems. Norwalk required a flexible vehicle that could adapt to the unique needs of practices, both large and small, but still offer centralized and standardized billing, collection and EMR services. IHC created and implemented a new subsidiary that provided flexible Human Resource, Payroll and IT support services. Equally important, a standard billing and EMR platform was successfully implemented. IHC is currently managing the subsidiary and recruiting for permanent management. 

Physician Practice Recruitment

IHC has been retained to identify physician groups that meet the clinical and demographic profile identified within Norwalk Hospital’s expansion model. In the first Phase, we determined the physician practices by service, geography and affiliation that met the hospital profile. We then developed recruitment packages, calculated practice valuations, negotiated and secured agreements, devised incentive and compensation models with the identified practices. This continues as an ongoing project.

Practice Startup and Management

The hospital has recruited physicians recently out of fellowship or new to the community to practice at certain strategic locations that have been identified as underserved and/or financially desirable. IHC has developed break even and cash flow analyses, created physician compensation and incentive plans, and assisted with the loan guarantee process to secure these physicians. Additionally, IHC has provided interim leadership and management to these groups to help the startup process, and we have begun to recruit permanent management.

Strategic Planning Implementation - Orthopedics

Additionally, Norwalk Hospital has completed a strategic plan initiative and identified key clinical service lines. They have requested that IHC become their implementing partner for the Orthopedic Service line. Our role to date has included the formation of a business plan, identification and introduction of clinical collaboration partners, and management of internal physician integration.