The Scope Forward Show
Episode# 21: AGA talk: What must you know when considering PE (8 factors, 4 risks)
Praveen Suthrum, President at NextServices recently presented at the AGA Virtual Town Hall (that was held in collaboration with the DHPA).
This is what you’ll take away from this talk:
1) State of PE in gastroenterology
2) How exactly does PE operate and make money?
3) The PPM debacle of the 1990s
4) The four forces influencing GI consolidation
5) 8 considerations and 4 risks
6) How to stay relevant independent of your decision
Episode# 20: Rock Rockett: “Yes, you can stay small and independent. But it’s a qualified yes.”
Rock Rockett is the Founder and Principal of Rockett Healthcare Strategies. Rock has been in the GI space for almost two decades now. As a business person, he saw GI physicians evolve.
In this interview, we explore the big question on many people’s minds: is it still possible to stay small and independent if you choose to?
Read the entire transcript of the interview here – https://www.nextservices.com/interview-with-rock-rockett-yes-you-can-stay-small-and-independent-but-its-a-qualified-yes/
Episode# 19: Dr. Baig and Dr. Gialanella: “Shift will occur when there’s financial hardship. And it’ll occur pretty quickly as we see screening colonoscopy going down”
New Jersey-based Allied Digestive Health recently became the 8th private equity platform in gastroenterology. In this interview, Dr. Robert Gialanella, CEO/President and Dr. Nadeem Baig, Vice President of Allied Digestive Health talk about their journey – from being competitors to partners to choosing private equity and more. Learn about how they consolidated without private equity first, building the largest GI group in New Jersey. They talk about the “generational divide” between the senior and junior partners and reflected on how they tackled this situation at Allied. They also shared their views on consolidations, disruptions, and EBITDA assumptions. Finally, they laid out four trends as gastroenterology moves to the future.
Episode# 18: Gastrologix: “We create companies that physicians can have ownership in”
What if you could own companies you spend money on? What if you could save money on routine purchases by getting bulk rates? With those ideas, Christopher Metz and Stephen Somers founded Gastrologix, a Group Purchasing Organization (GPO). Gastrologix is the first GI-specific GPO that works with independent gastroenterologists. Today, they count 75 GI practices in their growing network.
Watch this interview to understand on-the-ground insights from a GI-specific GPO.
Episode# 17: Interview with Dr. Bergein F. Overholt
Dr. Bergein F. Overholt needs no introduction. He founded the Gastrointestinal Associates in Knoxville and led the group for four decades. He is also the past president of the American Society for Gastrointestinal Endoscopy and American Association of Ambulatory Surgery Centers.
Dr. Overholt helped develop the flexible fibersigmoidoscope-colonscope, for which he earned many awards. In 1986, his efforts resulted in the establishment of the nation’s first GI single specialty Ambulatory Surgery Center. Dr. Overholt has also taught many of today’s GI practice leaders how to develop and manage their own GI-ASCs.
In this one-of-a-kind interview, Dr. Overholt walks us through his four-decade-long journey, reflects on the new technologies, private equity, and shares his views on alignment among physicians. And finally, he shares timely and relevant advice for gastroenterologists.
At a time when gastroenterology is at crossroads, Dr. Overholt says what needs to be said. Don’t miss the story of how the country’s first GI ASC started.
Episode# 16: Interview with Dr. Ellen Scherl
Dr. Ellen Scherl is the Research Director and Founding Director of the Jill Roberts Center for Inflammatory Bowel Disease (IBD), Weill Cornell Medicine. Dr. Scherl has recently been honored with the Rosenthal Humanitarian Award from the Crohn’s and Colitis Foundation. Dr. Scherl is known nationally and internationally for her work in the field of IBD.
Episode# 15: Interview with Dr. Michael Weinstein (Part 2)
In the interview’s second part, Dr. Weinstein talks about how many aspects of the medical practice can be done remotely. He reflects on the future of GI post COVID, his experiences with the giants of gastroenterology (e.g. Dr. Gene Overholt, the father of endoscopy) and what must fellows in GI must focus on. More importantly, he deeply contemplates on social disparity in gastroenterology.
Episode# 14: Interview with Dr. Michael Weinstein (Part 1)
Praveen Suthrum, President, NextServices interviews Dr. Michael Weinstein, President & CEO of Capital Digestive Care and Past President, DHPA. Dr. Weinstein is also a member of the governing board at the AGA Institute.
Dr. Weinstein’s interview is loaded with so many insights that we will be releasing it in two parts. Each part deserves to be watched in full.
In this video, you’ll learn how Capital Digestive Care grew to be 60+ providers is a story that’s relevant to many groups looking to consolidate regionally. In 2018, they went on a strategy planning retreat to decide what they’d like to be in 2030. That led to the partnership with Physicians Endoscopy.
Dr. Weinstein outlines the benefits of their MSO to private GI practices and how it differs from private equity.
Episode# 13: Interview with GB Pratt, CEO of ModifyHealth
George “G.B.” Pratt is the Founder and CEO of ModifyHealth. The company recently raised $2 million in Series A funding – right in the middle of the pandemic. As a “food as medicine” company, ModifyHealth provides fresh, Low-FODMAP and Gluten-free meals to patients suffering from GI conditions. GI practices partner with the company to benefit from a dietary ancillary. In this interview, you’ll learn more about ModifyHealth’s business model. A big question GB reflects on is whether ModifyHealth goes against the grain of today’s healthcare model.
Episode# 12: Interview with Dr. Partha Nandi (Pinnacle GI)
On November 30th, 2020, Troy Gastroenterology (Michigan) announced its partnership with H.I.G. Growth Partners to launch the seventh private equity platform in GI: Pinnacle GI Partners.
Dr. Partha Nandi is the President, Practice CEO and Executive Chair of the Board of the new platform. In this insightful interview, he shares why it’s still an early inning for private equity in gastroenterology, how they chose their PE partner and discusses challenges with EBITDA expectations. Listen to this exclusive deep dive into GI’s latest PE platform.
Episode# 11: Interview with Dr. John Allen
John Allen, M.D is the Chief Clinical Officer of the University of Michigan Medical Group and is also on the board of Allina Health. In 2019, AGA presented its highest honor, the Julius Friedenwald Medal for his contributions to gastroenterology. Previously, he was the chief of Digestive Diseases at Yale and helped build Minnesota Gastroenterology (now MNGI), one of the largest GI practices in the country.
This interview is so insightful that it’ll help you make several business and personal decisions for the long haul. Here’s specifically what you’ll take away:
1) What does it take lead calmly and steadily through a crisis? Especially a large health system
2) Planning for another pandemic (or another wave) should it occur
3) Fundamental shifts in GI and US healthcare economics that we are not yet recognizing
4) Weighing pros and cons of private equity
5) Future of gastroenterology – technology, consolidation, ethics and morals
Episode# 10: Interview with Dr. Prashant Krishnan
Dr. Prashant Krishnan is the Chief Medical Officer of Gastro Care Partners/Peak Gastroenterology Associates. In December 2019, Peak Gastroenterology partnered with Varsity Healthcare Partners to launch the sixth PE platform in GI. In this insightful interview, Dr. Krishnan reveals a core strategy (called YOU) that led to their explosive growth from 4 to 43 providers. That growth opened doors to private equity.
Episode# 9: Interview with Dr. Lawrence Kosinski
Dr. Lawrence Kosinski is the Founder and Chief Medical Officer at SonarMD. In this exclusive interview, Dr. Kosinski said what needs to be said. It’s an urgent wake-up call to the GI industry. The topics we cover range from starting up a GI-tech venture to private equity, valuation concerns and what in the end has value in life.
Episode# 8: Interview with Dr. Joe Rubinsztain
Joe Rubinsztain, M.D is the CEO and Co-Founder at ChronWell. The company provides technology-enabled solutions such as Chronic Care Management (CCM) and Remote Physiologic Monitoring (RPM). Previously, he was the President at gMed, which was acquired by Modernizing Medicine in 2015.
In this future-oriented interview, Dr. Rubinsztain walks us through how ChronWell works and their progress during COVID-19. He provides interesting insights into how technology will play a bigger but quieter role in the future.
Episode# 7: Interview with Scott Fraser
Scott Fraser is the Senior Healthcare Advisor, Private Equity at H.I.G Capital and Founder & Managing Director at Fraser Healthcare, a consulting practice focused on growth strategies for healthcare companies and private equity firms. He’s worked in the gastroenterology space for 25 years with companies like Given Imaging, EndoChoice and Boston Scientific. More recently, he was President of Practice Management for Physicians Endoscopy.
In this podcast, Scott delves into new ancillaries you could start right now. He talks about making a practice attractive for investment. And he reflects on the future of GI when present market forces accelerate.
Episode# 6: Interview with Dr. Latha Alaparthi
Praveen Suthrum, President of NextServices interviews Dr. Latha Alaparthi, PACT Gastroenterology Center and Vice President of DHPA.
In this interview, learn how a multispecialty GI group made a decision to ally with a regional hospital. Understand what steps PACT GCC took to navigate COVID-19 and what they are doing now to continue endoscopies safely. More importantly, Dr. Alaparthi reflected on how there could be more women in leadership positions in gastroenterology. And how physicians must take care of themselves first.
Episode# 5: Interview with Dr. Michael Dragutsky
Praveen Suthrum, President, NextServices spoke to Dr. Ashish Atreja, the Chief Innovation Officer at Icahn School of Medicine at Mount Sinai. He’s a well-known keynote speaker in the field of digital medicine. Also, a board member of Rx.Health that released the Virtual Care Hub (with AGA) this week.
He called this a “watershed moment” for gastroenterology. This interview has so many insights that it deserves to be watched in full and a few times.
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Episode# 4: Interview with Dr. Michael Dragutsky
Learn how Gastro One in Memphis, Tenn. partnered with Webster Equity Partners to create One GI, the latest PE platform in gastroenterology.
Praveen Suthrum, President of NextServices, spoke to Dr. Michael Dragutsky, Chairman of One GI, the latest private equity platform to take shape in gastroenterology. Memphis, Tenn. based Gastro One partnered with Webster Equity Partners to announce One GI earlier this week.
It’s possibly the ONLY medical practice deal to conclude during this crisis.
Episode# 3: Interview with Dr. Chris Fourment
Praveen Suthrum, President of NextServices and Author of Scope Forward interviews Dr. Chris Fourment, President/CEO of Clinical Research Strategy Group/Precision Research.
In this interview, you’ll learn why Dr. Fourment chose to focus on clinical research as a career path. Dr. Fourment also walks us through the various aspects involved in clinical research and how CRSG and Precision Research are helping GI physicians build a sustainable ancillary for their practice. He also reflects on the role of the future of clinical research in a digital world. Watch this insightful interview in full to learn what it takes to create a clinical trials ancillary in gastroenterology.
Episode# 2: Interview with Dr. Michael Byrne
Praveen Suthrum, President, NextServices interviews Dr. Michael Byrne, CEO & Founder of Satisfai Health, Founder of ai4gi. Learn about the progress of artificial intelligence in gastroenterology.
From this video you will understand where exactly AI is in gastroenterology. What must private practice gastroenterologists do now? What does the world of GI look like post-COVID? Stay on top of GI trends by watching this thought provoking interview in full.
Episode# 1: Interview with Dr. James Leavitt
Praveen Suthrum, President, NextServices interviews Dr. James Leavitt, President and Chief Clinical Officer, Gastro Health. Topics include changes at Gastro Health, telemedicine, private equity, future of gastroenterology, how do you make healthcare better, valuations of GI practices during COVID-19.
Private equity in gastroenterology began with Audax investing in Gastro Health back in 2016. Over the last few years, Gastro Health expanded to 250 providers and to other states like Alabama and Washington. This interview is insightful at so many levels. Watch it in full. Also, if you’ve always viewed private equity uni-dimensionally (that it’s all about the money), definitely watch the last segment. Dr. Leavitt talks about how passionate we all are about making healthcare better.
When you book a consult below, we’ll send a free tool to help you identify what level of performance your practice is at. From a Level 1 to 5 (low to high). During the call, we’ll identify what a possible growth strategy looks like.