Profile: Team Health Holdings Inc (TMH.N)
18 Dec 2013
Team Health Holdings, Inc. is a supplier of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States, based upon revenues, patient visits, and number of clients. Team Health serves approximately 730 civilian and military hospitals, clinics and physician groups in 47states with a team of more than 7,100 affiliated healthcare professionals, including physicians, physician assistants, nurse practitioners, and nurses. It recruits and contracts with healthcare professionals who then provide professional services within third-party healthcare facilities. The Company also provides programs for hospital medicine (hospitalist), anesthesiology, pediatrics and other healthcare services, by providing permanent staffing, that enables the management teams of hospitals and other healthcare facilities to outsource certain management, recruiting, hiring, payroll, billing and collection and benefits functions. In September 2011, the Company acquired the operations of Anesthesia Services, Inc. In October 2011, the Company acquired the operations of Chicago based Midwest Emergency Associates (MEA) and its related entities. In April 2012, it acquired the operations of Bergen Anesthesia Associates, P.A., and Teaneck Anesthesia Group, P.A., and related entities. In May 2012, it acquired the operations of The Exigence Group and its related entities. In August 2012, the Company announced the acquisition of the operations of Delphi Healthcare Partners (Delphi) and its related entities. In December 2012, the Company acquired practice of Mobile Emergency Group, PC (MEG), the physician group, which provides services to the emergency departments of Mobile Infirmary Medical Center in Mobile, Ala., and North Baldwin Infirmary in Bay Minette, Ala. In January 2013, the Company acquired the practice of San Francisco Physicians Internationale, Inc. In July 2013, the Company announced that the expansion of its emergency medicine staffing services to Michigan through the acquisition of the operations of Tri-County Emergency Physicians, PC. In October 2013, TeamHealth Holdings Inc announced the acquisition of the operations of Marshall Physician Services, LLC, operating as MESA Medical Group (MESA). In November 2013, Team Health Holdings Inc announced the acquisition of the operations of Wolverine Anesthesia Consultants (Wolverine).
Team Health’s delivery of services for a clinical area of a healthcare facility is led by a contract management team of clinical and other healthcare professionals. The team includes a regional medical director, an on-site medical director and a client services manager. The on-site medical director is a physician with the primary responsibility of coordinating the physician component of a clinical area of the facility. The medical director works with the team, in conjunction with the nursing staff and private medical staff, to improve clinical quality and operational effectiveness. In addition, the medical director works closely with the regional operating unit’s operations staff to meet the client’s ongoing recruiting and staffing needs.
Team Health provides a range of staffing services to meet the needs of each healthcare facility. The Company’s clinical teams include qualified, career-oriented physicians and other healthcare professionals. These teams also rely on managerial personnel, many of whom have clinical experience, who oversee the administration and operations of the clinical area. It also provides temporary staffing services of physicians and other healthcare professionals to healthcare facilities on a national basis.
Team Health recruits physicians and other clinicians. These professionals are qualified, career-oriented physicians with healthcare facilities. Common recruiting methods include the use of the Company’s national physician database, attendance at trade shows, the placement of Website and professional journal advertisements, telemarketing efforts, and referrals from its existing providers. Recruiters contact prospects through telemarketing, direct mail, conventions, journal advertising and the Company’s Internet site to confirm and update physicians’ information. Prospects express interest in one of its practice opportunities then provide background on their training, experience, and references.
Team Health gathers primary source information regarding physicians to facilitate the review and evaluation of physicians’ credentials by the healthcare facility. The scheduling department assists the on-site medical directors in scheduling physicians and other healthcare professionals within the clinical area on a monthly basis.
Payroll Administration and Benefits
Team Health provides payroll administration services for the physicians and other healthcare professionals with whom it contract. The Company’s clinical employees benefit significantly from its ability to aggregate physicians and other healthcare professionals to negotiate more favorable employee benefit packages and to provide professional liability coverage at lower rates than many hospitals or physicians could negotiate individually. Additionally, healthcare facilities benefit from the elimination of the overhead costs associated with the administration of payroll and, where applicable, employee benefits.
Team Health has invested in advanced information systems and software packages designed to assist hospitals in lowering administrative costs while improving the efficiency and productivity of a clinical area. These systems include TeamWorks, its national physician database and software package that facilitates the recruitment and retention of physicians and supports its contract requisition, credentials coordination, automated application generation, scheduling and payroll operations.
Billing and Collections
Team Health’s billing and collection services are a critical component of its business. The Company’s fee for service billing and collections operations are conducted at one of three billing locations and operate on a uniform billing system using a billing and accounts receivable software package with reporting capabilities. Foremost among these is an electronic registration interface that has the capability to gather registration information directly from a hospital’s management information system. Additionally, it has invested in electronic submission of claims and remittance posting, as well as electronic chart capture, workflow, and online coding. During the year ended December 31, 2011, approximately 90% of the Company’s over nine million fee for service patient visits were processed by one of its three billing locations. It also operates an internal collection agency. Substantially all collection placements generated from its billing locations are sent to the agency.
Through its risk management staff, quality assurance staff and medical directors, the Company conducts a risk management program for loss prevention and early intervention. The Company promotes early reporting, evaluation and resolution of serious incidents that may evolve into claims or suits. The Company’s risk management function is designed to prevent or minimize medical professional liability claims and includes incident reporting systems, through which it monitor events that may potentially become claims; tracking/trending the cause of events and claims; risk management quality improvement programs; physician education and service programs, including peer review and monitoring and the provision of more than 100,000 hours of Category I continuing medical education credits during 2011; collection of loss prevention information enabling providers to review current topics in medical care at their convenience, and early intervention in potential professional liability claims.
Patient Safety Organization
Team Health has established a federally qualified Patient Safety Organization (PSO), whose mission is to improve patient care by conducting quality and safety analyses. The TeamHealth PSO creates an environment that enables professional analyses of clinical issues.
Continuing Medical Education Services
The TeamHealth Institute for Education and Patient Safety is accredited by the Accreditation Council for Continuing Medical Education, the American Nurses Credentialing Center. This allows the Company to grant its physicians and nurses continuing medical education credits for both externally and internally developed educational programs. In addition to providing life support certification courses, the Company has designed a series of client support seminars entitled Successful Customer Relations and Beyond Clinical Competence for physicians, nurses and other personnel to learn specific techniques.
Team Health Holdings Inc
Suite 400, 265 Brookview Centre
KNOXVILLE TN 37919