by Marius Ged, on Feb 15, 2023 9:26:48 AM
Keep up with the latest orthopedics news and insights from the industry's trusted legal partner, Ged Lawyers. Here is an overview of what happened this month in the orthopedics field in Florida.
News Stories Affecting Your Practice
1) HSS Florida Continues to Grow with the Appointment of Tara M. McCoy as CEO
As a reflection of its commitment to improving musculoskeletal health in the state, Hospital for Special Surgery (HSS) has appointed Tara M. McCoy as the Chief Executive Officer of HSS Florida.
Ms. McCoy has over 20 years of healthcare and Florida leadership experience with Cleveland Clinic and Tenet Healthcare, among others. She recently worked in a global provider of oncology services as the Division Chief Executive of GenesisCare, overseeing the West Florida region. Ms. McCoy will focus on growing the commended HSS musculoskeletal care throughout the Florida market. She will also partner with world-renowned Douglas E. Padgett, the HSS MD and Associate Surgeon-in-Chief, who oversees all aspects of clinical quality for HSS Florida.
“It is an honor to take on this new role, and I look forward to expanding the reach and impact of HSS across the state of Florida,” said Ms. McCoy. “I am committed to utilizing my healthcare knowledge and Florida community experiences to continue building on the great work that has already begun.”
Industry Updates
1) Marc Matarazzo Returns to Florida and Joins the Centre for Bone and Joint Surgery
Dr. Marc Matarazzo is pleased to announce he has joined the team at The Center for Bone and Joint Surgery in Jupiter and Port St. Lucie, FL and is now accepting new patients. He is a certified and trained orthopedic surgeon with over 20 years of practicing orthopedics.
“I am thrilled to join the team at The Center for Bone and Joint Surgery and to have the opportunity to serve the Jupiter and Port St. Lucie communities,” said Dr. Matarazzo. “I look forward to helping patients achieve their best possible outcomes through personalized, state-of-the-art care.”
As the leading expert in the field of Orthopedics, he is highly skilled in a range of procedures, and his particular focus is on sports medicine, knee and shoulder injuries, orthobiologics (stem cells, Platelet-rich plasma (PRP) injections, adipose injections), knee replacement, shoulder replacement, rotator cuff, shoulder dislocation/instability, ACL, meniscus, cartilage, arthritis and more. Dr. Matarazzo previously served Palm Beach County and the South Florida region for over ten years.
The Center for Bone and Joint Surgery is home to a team of medical professionals committed to providing the highest orthopedic care to patients in Jupiter and the surrounding areas. visit https://www.boneandjoint.org/meet-our-doctors/marc-matarazzo-md/ to learn more about Dr. Matarazzo and the services offered at The Center for Bone and Joint Surgery.
2) More Orthopedic Physicians Sell Out to Private Equity Firms, Raising Alarms About Costs and Quality
Dr. Paul Jeffords and his colleagues at Atlanta-based Resurgens Orthopaedics in Atlanta were worried about their financial stability, even though their independent orthopedic practice was the largest in Georgia, with nearly 100 physicians.
They anxiously watched as other doctors completely sold out their practices to large hospital systems and health insurers. They declined to take this into account. “It was an arms race,” Jeffords said, “and we knew we had to do something different if we wanted to remain independent and strong and offer good quality of care.”
As such, in December 2021, Resurgens sold a 60% interest in United Musculoskeletal Partners to a New York-based private equity firm known as Welsh Carson. Although details of the sale are unknown, such transactions give Arzt shareholders a multimillion-dollar cash payment at a time, with the possibility of later large payouts if the practice is sold to another investor in the coming years.
Most orthopedic surgeons, long-considered independent are now selling out their practices to private equity investment firms with the hope of dominating the rising outpatient surgery market as one of medicine’s highest-paying specialties.
Proponents believe private equity investments can help doctors move more procedures to less costly outpatient surgery centers, thus minimizing the total cost on musculoskeletal care and enhancing quality. On contrary, critics warn that private-equity ownership is only interested in seeking profits, which could lead to unnecessary surgeries, less access to care for uninsured or underinsured patients, and higher prices for patients and insurers.
Learn more in this article.
Growing Your Practice
1) The Top 3 Email Newsletters for Orthopedists
As an orthopedist, there is a lot on your to-do list. You have to see patients, do surgeries, and keep up with charting. However, you need to stay current with the latest research and medical innovation. Email newsletters for orthopedists are a great source of such information. Some of the top email newsletters for orthopedists include:
Orthobuzz
Orthobuzz is a blog for one of the most trusted names in orthopedics, The Journal of Bone & Joint Surgery. Subscribe to Orthobuzz’s monthly email newsletter to keep up with new developments in orthopedics.
OrthoGate
OrthoGate is an online community for orthopedic professionals dedicated to improving information access for orthopedists. Create a free account and subscribe to the Orthopod email listserv to join the discussion.
Orthopedics This Week
Orthopedics This Week is the most widely read publication for practicing orthopedists. It is a community of about 250,000 clinicians, nurses, administrators, scientists, and other professionals involved in orthopedics. It is a paid subscription, but you can start with a 90-day free trial and see if it’s worth continuing.
2) Have Insurance Companies Underpaid Your Practice? Engage Ged Lawyers
Insurance companies are known to take advantage of medical providers. They do this by underpaying personal injury protection (PIP) benefits for medical professionals who treat car accident injuries. Florida hospitals, doctors, diagnostic imaging offices, and other medical providers are missing millions of dollars, and much of this money may be recoverable.
Don’t let insurance providers take advantage of your practice any longer. Ged Lawyers can help you avoid frustrations with unfair treatment by carriers and worries about the financial health of your practice. Our Ged Lawyers have a track record of recovering millions of dollars in underpaid or denied PIP claims.
We audit your files and send a demand letter to the insurer on each claim, informing them to pay in full within 30 days. If they fail to comply, we start the litigation process. We are HIPAA-compliant to ensure the security of your data.
Contact us today at 561-995-1966 or through our website to learn more about how Ged Lawyers can help you maximize revenue for your Orthopedic practice.
