Also: ACEP & AAEM hug it out re: CPOM, EMPATH for the win, half of US physicians don’t trust their leaders, & “nurses are screaming for help; lawmakers should listen.”
Leon - the judge allowed Envision a temporary stay in light of the many legal filings related to their chapter 11 bankruptcy - the judge recommended AAEM PG file to continue proceedings in several months if the chapter 11 process is still ongoing - this will just be a short delay in what is a multi-year litigation process
Mark - Thanks for the info. Will follow this case closely. For now, the case is "on hold". When it gets the green light to proceed, I'll update the info. Thx for all your impressive work on behalf of emergency physicians! - Leon
Leon - absolutely spot on autopsy of APP! Just goes to show the “Kings” of wall street are not wearing any clothes. As you astutely said, the downfall was not at all surprising. Totally predictable when they continue to follow the same playbook. Dum dum dum and boring without any innovations. Although a low margin business, EM has the advantage of high volumes so an improvement of only $5 or $10 net collection per patient would have a big impact. Even if these dum dums dont listen to the physicians that built these businesses, they should at least have some expertise in basic rev cycle operations.
Note: APP has not yet officially filed for bankruptcy. APP has announced that they will cease operations on July 31, 2023.
APP, via a C Street Advisory Group (https://www.thecstreet.com/) representative, emailed me the following statement: “As we shared last week, due to our ongoing financial challenges and despite our best efforts, American Physician Partners is transitioning service of its hospital and system partners as of July 31, 2023. We are working closely with our hospital and system partners through this process to facilitate a smooth transition that minimizes disruption of patient service, while positioning our partners to continue providing high quality care going forward. In connection with these transitions, APP will begin a process to wind down operations in an orderly and efficient manner.”
Can we please start a Wall of Shame for all who contributed to the downfall of Emergency Medicine? Dom Bagnoli, Angelo Falcone, Amer Aldeen, Sean Bender all of USACS are on there.
Leon - the judge allowed Envision a temporary stay in light of the many legal filings related to their chapter 11 bankruptcy - the judge recommended AAEM PG file to continue proceedings in several months if the chapter 11 process is still ongoing - this will just be a short delay in what is a multi-year litigation process
Mark - Thanks for the info. Will follow this case closely. For now, the case is "on hold". When it gets the green light to proceed, I'll update the info. Thx for all your impressive work on behalf of emergency physicians! - Leon
Leon - absolutely spot on autopsy of APP! Just goes to show the “Kings” of wall street are not wearing any clothes. As you astutely said, the downfall was not at all surprising. Totally predictable when they continue to follow the same playbook. Dum dum dum and boring without any innovations. Although a low margin business, EM has the advantage of high volumes so an improvement of only $5 or $10 net collection per patient would have a big impact. Even if these dum dums dont listen to the physicians that built these businesses, they should at least have some expertise in basic rev cycle operations.
Note: APP has not yet officially filed for bankruptcy. APP has announced that they will cease operations on July 31, 2023.
APP, via a C Street Advisory Group (https://www.thecstreet.com/) representative, emailed me the following statement: “As we shared last week, due to our ongoing financial challenges and despite our best efforts, American Physician Partners is transitioning service of its hospital and system partners as of July 31, 2023. We are working closely with our hospital and system partners through this process to facilitate a smooth transition that minimizes disruption of patient service, while positioning our partners to continue providing high quality care going forward. In connection with these transitions, APP will begin a process to wind down operations in an orderly and efficient manner.”
For the record. Physician Assistants must retake boards every 10 years same as physicians. Nurse practitioners, however, do not.
Can we please start a Wall of Shame for all who contributed to the downfall of Emergency Medicine? Dom Bagnoli, Angelo Falcone, Amer Aldeen, Sean Bender all of USACS are on there.