Since healthcare is easily the biggest, most important and most impactful business in Birmingham, BHM BIZ pulled together a panel of experts to discuss the state of the healthcare industry in the Magic City. Our very own Sae Evans was chosen to participate in the discussion and address private equity concerns for Birmingham’s healthcare industry.
I don’t have the solution to America’s healthcare problem, and that is not why clients come to me. They come to me and ask me how I can help them address their problems so that we focus on what we can control. And that is what our physicians are doing in their practice. We look at questions like, do you have the best staff? Are your staff trained optimally to take care of the patient?
When a patient goes to see his physician today, if they’re in the practice for an hour or two hours depending on what they’re having done, they may only see the physician for 15 minutes. The entire rest of the experience is dealing with technology or other staff in the practice. How do we make that experience something positive for the patient so that they walk away thinking this is the best care, best experience, they could have had?
Private equity groups and investors are starting to move into Alabama. They are talking to a number of our clients and what that means is you are no longer going to have a practice owned by a hospital or the physicians themselves, you’re going to have corporate medicine.
I think we are in the front wave of this. They are beginning to dip their toe into Alabama and we may see it pick up steam as we go along. Will it be successful in running practices? We’ll have to see.
Sae Evans is a Member in the Firm’s Healthcare Consulting Group and specializes in working with medical practices. He serves physicians in matters such as compensation and incentive plans, merger and acquisition transactions, business advisory and personal income tax planning. Evans also has expertise in medical real estate issues including feasibility analysis, cost segregation studies and tax planning for purchase/sale transactions.