“Incorporating Pain Management Group’s model into the Memorial Hospital’s scope of services has been a rewarding experience. Through this rewarding partnership and through their structure and positive leadership we have been able to enhance patient care while consistently increasing revenue”.
-John Yanes, CEO, Memorial Hospital
What kind of investment is this going to be for my hospital?
Investment varies based on space and equipment needs; however, many partner hospitals have been able to bring the Pain Joint Venture operational with an investment of $100,000 or less.
Can this work with existing Pain Management practices?
Yes, essentially PMG is a two-part entity focusing on developing and operating pain management centers. And, to accommodate a hospital partner with an existing program to improve operations, PMG would act as the program manager.
Can service be coordinated with other specialties?
Yes the service coordinates well with a variety of specialties such as primary care, occupational medicine, orthopedic surgery, and neurosurgery. Yes, Pain Management Group works hand in hand often with Orthopedic Spine Surgeons, Occupational Medicine Surgeons, Neurologists, Neurosurgical Spine Surgeons, and Pain Medicine and Rehabilitation Specialists.
As a hospital CEO, I’m not sure that our current staff can add one more service line to their workload. What’s the time commitment for us?
For hospital CEOs pressed for time, Pain Management Group can provide increased revenue without large demands on the time of your administrative and clinical staff. We are a “turn key” operation, supplying plans and equipment recommendations, registration and billing services, and pain treatment center staffing at the local level. Our partner group, Midwest Pain Physicians, recruits top notch pain management specialists from the country’s best medical schools and internship programs.
What kind of growth can I anticipate? What can I expect as a return on investment?
Our model indicates that, assuming a primary market population of at least 100,000, net revenues would run about $1.8 million the first year, incrementally increasing to more than $9 million by year 5. Again, downstream revenue is significant, with increased volumes for your hospital in lab, radiology, pharmacy, and imaging.
What is the timeframe we can expect from concept, to going live, with the pain program?
We can implement a new pain management program in approximately 8 weeks from the date that our documents are signed.
Has PMG experienced any joint venture contract failures?
No, we have a 100% success rate with our joint ventures.