University Hospital in Augusta, Ga., is designating $15 million towards the acquisition of physician practices, according to an Augusta Chronicle report.
The 612-bed hospital, part of University Health Care System, is planning a “first wave” purchase of 30 physicians specializing in cardiology, hematology/oncology and cardiothoracic surgery. This is expected to be complete within four to six weeks.
Approximately $10 million will be needed to pay the physicians’ salaries and overhead costs for the practices before revenue begins flowing in after the transition, which may take as long as 90 days.
Read the Augusta Chronicle report on University Hospital.
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