frequently asked questions
Does HealthMark own a majority interest in the centers it manages?
No, HMP is a minority owner in all of its ASC partnerships and this is no accident. HealthMark believes that the greatest of efficiencies, while maintaining the highest quality of care, is delivered under strong physician leadership. Therefore, HMP believes in physician empowerment through ownership and governance in all its models.
Why does HealthMark target underperforming or new development projects for its growth?
HMP has proven that significant value can be created by the acquisition of underperforming assets. The success thereafter is driven by the strength of our physician partnership (which is why we believe in minority ownership) and the strength of the operations management provided by HMP. When you specialize in new developments and turnarounds, you better be good at what you do. HealthMark has proven itself on both fronts with a strong operating history.
What does a good management company do for the fees charged?
This is a question often asked and frankly is too long to answer in short text. However, HMP believes there are certain core functions that should be done at the surgery center level and other services at the corporate partner level. If the corporate partner is only providing oversight then perhaps some questions on the fee are justified. At HMP we provide many consolidated services as value added and if the statement is true that “the market always tells you if you are right” then we are fortunate to be confirmed on doing things right.
What is the experience and depth of your management team?
HMP has been carefully constructed to meet all levels of surgery center management. In an industry that requires knowledge in healthcare regulatory, quality of care, corporate structure, capital structure, and relationship management HMP meets all the needs. How many physicians has HealthMark worked with?
HMP has worked with over a hundred physician members who are in some way affiliated with the centers that HMP manages and owns. Relationships with physician partners are carefully cultivated and guarded and represent one of the real strengths of HMP. These strong relationships afford HMP the ability to act quickly on a center’s or physician’s needs; because HMP partners understand our model, this creates mutually aligned incentives and trust is earned early on.
Are big management companies or small management companies best?
In our experience the answer can be both. We certainly appreciate the talent assembled in the ASC management business and have great respect for many within companies of either size. Our partners have found our attentiveness to be a strength. As a smaller management firm, we believe that senior management personnel should participate in each facilities management needs and that in this environment every center is critically important to the success and growth of HMP. ASC management is a relationship based caring business and that goes beyond patient care.