EthosPartners Healthcare Management Group, Inc. (EthosPartners) is a national healthcare consulting group. The company specializes in physician and hospital alignment, physician practice operations management, and physician revenue cycle management. EthosPartners’ physician expertise will now be combined with Navigant’s existing healthcare practice. This move will significantly enhance and widen the company’s solutions base.
“We are very pleased to make an additional investment in one of our key strategic growth areas following earlier 2010 investment success in our Energy, Disputes and Economics practices. In order to compete in today’s rapidly changing market, health systems are exploring strategies for adding physicians as their partners in care delivery. The need to integrate and manage these physician groups to prepare for the demands of health reform while delivering high quality care is rapidly accelerating. The combination of our existing healthcare team with EthosPartners will position us to assist clients in addressing the impacts of this change.” said William M. Goodyear, Chairman and Chief Executive Officer of Navigant.
Since EthosPartners’ is rich in expertise related to areas such as practice management, revenue cycle management, business intelligence and strategic consulting services, Navigant will tremendously gain from this acquisition. EthosPartners’ will nicely complement to Navigant’s healthcare capability. The EthosPartners team comprises of 180 billable professionals, 85 of these employees are a part of the revenue cycle outsourcing business (based in South Dakota). 8 professionals will be joining Navigant as Managing Directors while others will take practice leadership roles, as per reports.
Dave Zito, Managing Director and Navigant Healthcare Practice Leader commended: “Hospitals, health systems and physician practices need to prepare for lower reimbursements from Medicare, Medicaid and commercial payers, while constructing a delivery capability that can accept innovative payment techniques tied to better quality outcomes. By joining forces with EthosPartners we are creating a one-of-a-kind consulting group that can help clients survive in today’s competitive healthcare market. The passage of healthcare reform has thrust our clinical integration practice into the spotlight and with our combined organizations we are better positioned to help transform health systems into Accountable Care Organizations.”
“Uniting EthosPartners’ physician practice expertise with Navigant’s healthcare solutions makes us the only one to combine hospital – physician strategy and integration expertise with ‘roll up the sleeves’ practice management and operational execution that can achieve implementable performance improvement targets.” Alex Hunter, President and Chief Executive Officer of EthosPartners said. “This combination of resources and capabilities will help healthcare providers prepare their organizations to succeed in the rapidly changing healthcare market.” he added.
According to the agreement, Navigant has paid a total of $37 million, $28 million is in cash, $2 million in restricted Navigant stock and $7 million of deferred cash payments. Moreover, depending on the future performance of the business, EthosPartners can earn up to $8 million of additional payments.
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