The following are 10 things to know about physician outsourcing company TeamHealth.
1. Knoxville, Tenn.-based TeamHealth is one of the largest providers of outsourced physician staffing in the country. The company has more than 9,800 affiliated healthcare professionals working in 46 states at 19 regional locations.
2. The company contracts with more than 860 hospitals and physician groups in the areas of emergency medicine, hospital medicine, anesthesia and specialty hospitalist services. It also offers combined outsourcing services to single hospitals and hospital systems
3. As part of its staffing solutions, the company has clinical, operational and financial goals for each of its client healthcare locations, including: improving patient satisfaction, better resource management, reduced throughput times, enhanced efficiency and improved quality of care. These objectives are part of the growing trend to help hospitals prepare for value-based purchasing and the evolution of healthcare. "We continue to focus on developing strong, on-site physician leaders and providing them with the infrastructure and resources that help our clients improve metrics and achieve goals throughout many areas of the hospital," says TeamHealth's CEO, Greg Roth, of the company's goals for its clients.
4. The company has pursued a fairly aggressive growth strategy in line with the trend for the increased demand for outsourced hospital-based services; in 2013, the company acquired 13 physician groups. In 2014 so far it has partnered with Salutis Emergency Specialists in West Virginia.
5. TeamHealth has said it expects the influx of newly insured patients due to the Patient Protection and Affordable Care Act to drive company growth for the next several years. The company is one of several large national firms providing outsourced hospitalist services, one of the top five most-outsourced patient care services.
6. TeamHealth is led by a joint executive leadership board and physician leadership council, the latter which consists of presidents of various geographical regions and medical specialties, while the former is concerned with the operational management of the company.
7. CEO Greg Roth has been with TeamHealth since 2004, when he joined as president and COO. He is a certified public accountant and registered respiratory therapist. Before joining TeamHealth, Mr. Roth spent 10 years with Hospital Corporation of America's Ambulatory Surgery Division and was president for six of those years. Mr. Roth announced in January 2014 his intention to retire December 2014.
TeamHealth President Michael D. Snow, MBA, joined TeamHealth as president in April 2013. Mr. Snow has previously held positions at Hospital Corporation of America, HealthSouth Corporation, Surgical Care Affiliates, Wellmont Health System and Amedisys.
Executive Chairman Lynn Massingale, MD, is a co-founder of TeamHealth and served as the company's chairman and CEO until 2008, when he moved to his current role. He is a member of numerous medical associations for emergency care and is a 2014 recipient of a Becker's Healthcare Leadership Award.
8. TeamHealth reported a 45 percent increase in profits over the fourth quarter of 2014, with net earnings of $21.5 million. Net revenue increased 14 percent to $621.8 million. The quarter marked the thirteenth consecutive quarter of double-digit top line growth, according to Greg Roth, the company's CEO.
9. Acquisitions made up 9 percent of the revenue growth, followed by net sales growth (2.8 percent) and same contract revenue (2.2 percent). Projected revenue growth for 2014 is between 11 and 12 percent, according to Insurance News Net. Currently, the company trades between $46 and $47 dollars per share.
10. In the first quarter of 2014, TeamHealth's net revenue increased 11.4 percent over the first quarter of 2013 to $641.7 million. Net earnings were $38.3 million after adjustments. The growth in first quarter 2014, is consistent with expectations, according to Insurance News Net.
More Articles on TeamHealth:
25 Recipients of Becker's Healthcare 2014 Leadership Awards
TeamHealth Names 2014 Medical Directors of the Year
TeamHealth Announces Merger With Salutis Emergency Specialists