Under the terms of the agreement, PracticeXpert will have full management and operational responsibility for the facility, including non-physician staffing, purchasing, accounting, billing, collections, cash management, credentialing, third-party payor agreements and fee scheduling.
The contract expires in April, 2010, and is expected to generate in excess of $4m in revenue annually.
While this type of contract is not for every physician’s practice, it makes a great deal of sense for those physicians who want to own their own practice, but who would rather spend the day treating patients than worrying about managing staff and paying bills, said Jonathan Doctor, CEO of PracticeXpert. We see a significant business opportunity in taking on additional contracts of this nature.
