Joshua Nemzoff, a long-time hospital transactions consultant, is starting a new for-profit company that will focus on joint ventures with physicians to own and operate general acute-care hospitals. StoneBridge Healthcare, New Hope, Pa., will use the physician-investor strategy to involve physicians in hospital management -- but paired with management professionals who understand the business needs of hospitals, Nemzoff said. Whole-hospital joint ventures with physicians are exempt from Medicare's ban on physician self-referral, which prohibits doctors from referring patients to facilities in which the doctors have a financial interest. While many physicians have invested in specialty hospitals -- a controversial practice that was temporarily barred under a congressional moratorium -- physician investment in general acute-care hospitals is rare. -- by Vince Galloro
New company to focus on whole-hospital joint ventures
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