Gary W. Herschman, Member of the Firm in the Health Care & Life Sciences practice, in the firm’s Newark office, was quoted in FierceHealthcare, in “Healthcare Leaders Look at the Past, Present and Future of Consolidation,” by Heather Landi.
Following is an excerpt:
From new federal payment models to new disrupters ... the ongoing transformation of healthcare is having a profound impact on independent medical groups.
“You have to play ball and be ready to address these changes. The freight train has left the station on transformation and we can’t see the station anymore. Things will look a lot different in the next three to five years,” said Gary Herschman, an attorney in the healthcare and life sciences practice at Epstein Becker Green, during a recent conference in New York City that focused on independent medical groups and was sponsored by the law firm.
These ongoing changes are driving many practices to pursue strategic transactions, whether that’s being acquired by a hospital system or by private equity firms. As healthcare costs continue to rise and physician practices face more complex regulations, acquisitions are one strategy to control costs. Physician practices are increasingly turning to private equity for capital.