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Theranos, founder Elizabeth Holmes and former president charged with ‘massive fraud’
Theranos Inc., founder Elizabeth Holmes and former President Ramesh “Sunny” Balwani were charged Wednesday by the Securities and Exchange Commission with conducting “an elaborate, years-long fraud” that raised $700 million around their needles-less blood diagnostics company.
Theranos and Holmes have agreed to “resolve” the charges against them, the agency said in a statement, which includes Holmes giving up a majority of voting control and a reduced equity stake in the company. That latter part is significant since critics of the company said change couldn’t come to the company until Holmes gave up control.
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50 largest US medical group parents
https://www.beckershospitalreview.com/rankings-and-ratings/50-largest-u-s-medical-group-parents.html
Oakland, Calif.-based Permanente Medical Groups ranked No. 1 in the nation’s 50 largest medical group parents, with over three times the number of unique physicians as the second ranked Veterans Health Administration, according to an annual report published by IQVIA.
The report uses data from OneKey, a database from IQVIA that includes nine million U.S. healthcare professionals and 680,000 organizations.
The report ranked these parent companies by total physician affiliations, unique physicians and medical group count. Total physician affiliations are defined as the number of physician bridges between providers and sites, unique physicians are defined as the number of unique physicians affiliated to an integrated delivery network and medical group count is defined as the number of physicians at the IDN’s outpatient center(s), which may be a single specialty or multispecialty business. Imaging centers and surgery centers are not included in this report.
Here are the 50 largest U.S. medical group parents, ranked according to total physician affiliations, unique physicians and medical group count.
No. 1 — Permanente Medical Groups (Oakland, Calif.)
- Total physician affiliations: 19,179
- Unique physicians: 14,757
- Medical group count: 578
No. 2 — Veterans Health Administration (Washington, D.C.)
- Total physician affiliations: 4,909
- Unique physicians: 4,798
- Medical group count: 690
No. 3 — Mayo Clinic (Rochester, Minn.)
- Total physician affiliations: 5,137
- Unique physicians: 4,733
- Medical group count: 128
No. 4 — Ascension Health (St. Louis)
- Total physician affiliations: 5,035
- Unique physicians: 4,218
- Medical group count: 1,136
No. 5 — UC Health (Oakland, Calif.)
- Total physician affiliations: 4,797
- Unique physicians: 4,124
- Medical group count: 397
No. 6 — Fresenius Medical Care Holdings (Waltham, Mass.)
- Total physician affiliations: 5,875
- Unique physicians: 3,229
- Medical group count: 2,479
No. 7 — Providence Saint Joseph Health (Renton, Wash.)
- Total physician affiliations: 3,507
- Unique physicians: 3,054
- Medical group count: 573
No. 8 — DaVita (Denver)
- Total physician affiliations: 3,676
- Unique physicians: 2,737
- Medical group count: 2,813
No. 9 — Trinity Health (Livonia, Mich.)
- Total physician affiliations: 2,864
- Unique physicians: 2,551
- Medical group count: 607
No. 10 — Catholic Health Initiatives (Englewood, Colo.)
- Total physician affiliations: 2,961
- Unique physicians: 2,473
- Medical group count: 766
No. 11 — Sutter Health (Sacramento, Calif.)
- Total physician affiliations: 3,131
- Unique physicians: 2,468
- Medical group count: 436
No. 12 — HCA Healthcare (Nashville, Tenn.)
- Total physician affiliations: 2,838
- Unique physicians: 2,457
- Medical group count: 641
No. 13 — Partners HealthCare System (Boston)
- Total physician affiliations: 2,384
- Unique physicians: 2,178
- Medical group count: 218
No. 14 — UPMC (Pittsburgh)*
- Total physician affiliations: 2,955
- Unique physicians: 2,163
- Medical group count: 642
No. 15 — Carolinas HealthCare System — now Atrium Health (Charlotte, N.C.)
- Total physician affiliations: 2,235
- Unique physicians: 1,885
- Medical group count: 468
No. 16 — Cleveland Clinic
- Total physician affiliations: 1,873
- Unique physicians: 1,656
- Medical group count: 195
No. 17 — Aurora Health Care (Milwaukee)
- Total physician affiliations: 2,245
- Unique physicians: 1,623
- Medical group count: 258
No. 18 — Mercy Health (Chesterfield, Mo.)
- Total physician affiliations: 1,840
- Unique physicians: 1,570
- Medical group count: 515
No. 19 —New York Presbyterian Healthcare System (New York City)
- Total physician affiliations: 1,617
- Unique physicians: 1,506
- Medical group count: 168
No. 20 — NYU Langone Health (New York City)
- Total physician affiliations: 1,743
- Unique physicians: 1,500
- Medical group count: 221
No. 21 — Indiana University Health (Indianapolis)
- Total physician affiliations: 1,671
- Unique physicians: 1,462
- Medical group count: 244
No. 22 — SSM Health (Saint Louis)
- Total physician affiliations: 1,824
- Unique physicians: 1,455
- Medical group count: 274
No. 23 — Penn Medicine (Philadelphia)
- Total physician affiliations: 1,746
- Unique physicians: 1,443
- Medical group count: 210
No. 24 — Advocate Health Care (Downers Grove, Ill.)
- Total physician affiliations: 1,777
- Unique physicians: 1,398
- Medical group count: 284
No. 25 — Baylor Scott & White Health (Dallas)
- Total physician affiliations: 1,596
- Unique physicians: 1,362
- Medical group count: 290
No. 26 — Dignity Health (San Francisco)
- Total physician affiliations: 1,519
- Unique physicians: 1,342
- Medical group count: 396
No. 27 — Northwell Health (New Hyde Park, N.Y.)*
- Total physician affiliations: 1,528
- Unique physicians: 1,337
- Medical group count: 308
No. 28 — Mount Sinai Health System (New York City)
- Total physician affiliations: 1,522
- Unique physicians: 1,326
- Medical group count: 215
No. 29 — Community Health Systems (Franklin, Tenn.)
- Total physician affiliations: 1,497
- Unique physicians: 1,312
- Medical group count: 586
No. 30 — Yale New Haven (Conn.) Health System
- Total physician affiliations: 1,516
- Unique physicians: 1,311
- Medical group count: 202
No. 31 — Emory Healthcare (Atlanta)
- Total physician affiliations: 1,523
- Unique physicians: 1,282
- Medical group count: 119
No. 32 — Stanford (Calif.) Health Care
- Total physician affiliations: 1,403
- Unique physicians: 1,254
- Medical group count: 110
No. 33 — HealthPartners (Minneapolis)
- Total physician affiliations: 1,508
- Unique physicians: 1,254
- Medical group count: 117
No. 34 — Johns Hopkins Health System (Baltimore)
- Total physician affiliations: 1,515
- Unique physicians: 1,251
- Medical group count: 166
No. 35 — Vanderbilt University Medical Center (Nashville, Tenn.)
- Total physician affiliations: 1,655
- Unique physicians: 1,248
- Medical group count: 109
No. 36 — Duke University Health System (Durham, N.C.)
- Total physician affiliations: 1,549
- Unique physicians: 1,229
- Medical group count: 231
No. 37 — Intermountain Healthcare (Salt Lake City)
- Total physician affiliations: 1,452
- Unique physicians: 1,197
- Medical group count: 241
No. 38 — Jefferson Health (Radnor, Pa.)
- Total physician affiliations: 1,372
- Unique physicians: 1,153
- Medical group count: 173
No. 39 — UW Medicine (Seattle)
- Total physician affiliations: 1,459
- Unique physicians: 1,093
- Medical group count: 178
No. 40 — Northwestern Medicine (Chicago)
- Total physician affiliations: 1,370
- Unique physicians: 1,083
- Medical group count: 135
No. 41 — Fairview Health Services (Minneapolis)
- Total physician affiliations: 1,291
- Unique physicians: 1,070
- Medical group count: 139
No. 42 — Novant Health (Winston-Salem, N.C.)
- Total physician affiliations: 1,324
- Unique physicians: 1,063
- Medical group count: 305
No. 43 — Tenet Healthcare (Dallas)
- Total physician affiliations: 1,161
- Unique physicians: 1,052
- Medical group count: 347
No. 44 — Banner Health (Phoenix)
- Total physician affiliations: 1,303
- Unique physicians: 1,043
- Medical group count: 239
No. 45 — University of Michigan Health System (Ann Arbor)
- Total physician affiliations: 1,285
- Unique physicians: 1,039
- Medical group count: 84
No. 46 — Adventist Health System (Altamonte Springs, Fla.)
- Total physician affiliations: 1,180
- Unique physicians: 1,033
- Medical group count: 312
No. 47 — UNC Health Care System (Chapel Hill, N.C.)
- Total physician affiliations: 1,162
- Unique physicians: 1,013
- Medical group count: 211
No. 48 — PeaceHealth (Vancouver, Wash.)
- Total physician affiliations: 1,137
- Unique physicians: 1,006
- Medical group count: 165
No. 49 — Allina Health System (Minneapolis)
- Total physician affiliations: 1,259
- Unique physicians: 999
- Medical group count: 120
No. 50 — Sanford Health (Sioux Falls, S.D.)
- Total physician affiliations: 1,212
- Unique physicians: 964
- Medical group count: 198
To download IQVIA’s full report, click here.
How a sudden departure can affect your job prospects — & what to do about it
So far in 2018, approximately 12 hospital and health system executives have suddenly left their roles. While there are myriad reasons for the departures — ranging from being ousted to personal issues — most of them occurred with little or no notice. Whatever the reason, the question remains: How can executives mitigate the potential fallout?
According to Cody Burch, executive vice president at healthcare executive consulting and search firm B.E. Smith, any potential fallout from a sudden departure can be mitigated if executives remain positive and transparent.
“It doesn’t necessarily have to have a negative impact on [a] healthcare executive’s chances of landing another job,” he says.
There are several reasons behind a healthcare executive suddenly stepping down from their role. Common ones include burnout, termination for cause, personal issues and structural changes in the organization, says Mr. Burch. More recent reasons include consolidation, facility closures and demand for new skill sets. An executive may find they are not the right fit for the role anymore as the demands of the role or organization have changed.
An executive who has suddenly left an organization may find they have fewer opportunities in the job market. Mr. Burch says sometimes organizations looking to fill positions may only consider candidates who are currently employed, so executives who have recently left their roles may see a narrower job market than before.
Job seekers with a sudden departure on their resume may have to navigate challenging waters as they look for new opportunities. Here are five key considerations for these executives:
1. Remember honesty is key. Healthcare is very well connected. Healthcare executives and recruiters know each other, often having crossed paths over several years working in the same industry. The best strategy for executives who are looking for a new job after an abrupt departure is to be honest about their past circumstances.
“It is easy for people to find out the real story in an industry like healthcare,” says Mr. Burch. “Communicate about it honestly.”
2. Proactively address the one question every recruiter will ask. Most recruiters will ask the inevitable question, namely some version of, “Why did you leave your previous role?” Mr. Burch suggests healthcare executives expect that question and address it before the recruiter can even ask it. This gives the executive control over the messaging and narrative.
Mr. Burch says executives need to prepare their response to the question carefully. As much as possible:
• Try to disconnect the reason you are no longer in your previous role from the future.
• Communicate what you learned from your previous experience.
• Keep your answer short and focused on the positives.
• Reiterate your qualifications for the current opportunity.
• Explain why you are great fit for the new organization.
3. Stay positive. Although an abrupt departure can be a negative experience, it is important not to lose your positivity and perspective. “I think there is something to be said for either [the executive] or the employer identifying that the fit just isn’t there in the current organization,” says Mr. Burch. “Being able to come to a conclusion and reflect, truly reflect, on why it didn’t work.”
Finding an organization that is a better fit for the executive is a good thing for both the executive and the organization. It is important not to become bitter or emotional. Take the high road regardless of how things ended with the previous employer.
4. Keep networking. Keep your CV up to date and leverage your relationships within the industry, Mr. Burch says. Networking is always critical, but especially so at times of sudden change. Don’t be afraid to ask for help with your CV and partner with a recruiting firm if needed, he adds.
5. Leverage interim leadership. Executives looking to get back into the industry after a sudden departure can look for interim leadership roles. Use these roles to build confidence and demonstrate their value, says Mr. Burch. This will also help connect you to new people within the industry and potentially, new advocates for your leadership expertise.
“If you handle that transition well and get into a good opportunity for your career, the transition no longer matters,” says Mr. Burch. “People aren’t going to look back at that situation unless it happens commonly and frequently [in your career].”
