Illinois Bone & Joint Institute: Strength in Numbers - Health Executive - RedCoat Publishing - Inside Healthcare

Chicago’s status as one of the greatest cities on the planet is obvious. With a city population of close to 3 million people and a metropolitan population of almost 10 million in Illinois, Wisconsin, and Indiana, world-class healthcare could almost be taken for granted. Nestled within that continuum of care is the Illinois Bone & Joint Institute (IBJI). A fully integrated group of specialists in the diagnosis and treatment of musculoskeletal injuries and diseases, its goal is to be the leading local provider of comprehensive musculoskeletal care.

David Wold, COO

“Our business model never made our goal becoming the biggest orthopedic practice in Illinois or in the country,” said COO David Wold. “Our focus has been on achieving clinical excellence and enough mass to control our own destiny.”

IBJI now has more than 20 sites in Chicago and the surrounding suburbs. This is a conscious choice by the organization. Rather than expand into rural sections of the state, or even into the state capital of Springfield, IBJI chose to grow specifically in an area with the best chance for a high volume of patients. Although there are a large number of orthopedic practices and physicians competing with IBJI for patients, the sheer size of the Chicagoland area gives the company plenty of room for growth without straying too far from the heart of the city.

“We’re unique because of our office locations, from downtown Chicago up to Gurnee, Ill.,” Wold said. “It is an affluent community, so our geographic area gives us an advantage by offering people plenty of local options without being forced to drive 45 minutes from home.”

During the past 12 years, the company evolved to become one of the largest orthopedic practices in the Midwest through a strategy based on identifying both prime real estate for its locations and high quality, reputable physicians. Most of its growth has been through a series of practice mergers. These partnerships gave physicians access to resources smaller practices could not afford, such as integrated administrative tools and leverage in negotiations with hospital systems, payers, and vendors. The organization’s high patient volume also allowed it to take on ancillary services such as physical therapy and imaging.

“We’ve created sophisticated resources to support our individual practices, resulting in enhanced operations, better reimbursement, less overhead, and greater profitability on a per-doctor basis,” said Wold, noting IBJI now has 17 rehab centers and eight MRI centers integrated with its practices. “We’ve tried to determine what we can take out of hospitals and put into our practices to offset declining reimbursements and distinguish ourselves from competitors through a patient-friendly environment.”

Demand excellence
At the divisional level, IBJI allows each individual practice as much daily autonomy as possible. But decisions regarding the future course of the entire organization are strictly controlled from the top. Each practice may pursue local opportunities to set up and finance satellite offices on its own, major expansion projects focus on continued growth through mergers and acquisition.

Wold said the organization doesn’t merge new practices in on a whim. Instead, its strategy is clearly focused on new practices falling in a capture area where the company wants to have a presence. If the community is growing and there is an existing group in the area with the clinical expertise demanded by IBJI standards, the organization considers moving in.

But that clinical expertise is a non-negotiable piece of the puzzle. That is one reason the organization prefers mergers to fuel growth, as above all else IBJI knows it is partnering with quality caregivers. Another reason Wold thinks the company has been successful is the opportunity for professional advancement IBJI gives both physicians and technicians.

“Our director of MRI imaging joined us 10 years ago as a technologist. As we grew and expanded our imaging capabilities, he took advantage of the opportunity to set up new MRI facilities,” said Wold. “We recognize every position in this organization has a vital role in our success. Our commitment has always been to provide the tools and training our employees need to grow professionally.”

The organization is also willing to invest in the facilities and equipment individual divisions need to compete against other area providers. For the first few years, the organization used cash flow from initial imaging investments to invest in corporate infrastructure and subsequent ancillary services. Now the tools and personnel at IBJI’s headquarters work with board members and physicians alike to determine what upgrades in facilities and equipment are needed and affordable.

Through the collaboration of physician practices, IBJI has become one of the largest integrated orthopedic practices in the country. With a commitment to achieving maximum volume in its geographic area, Wold is confident the organization can continue to capture marketshare from its competitors while providing convenient access to the highest quality care in the Midwest.

“The one area we’ve identified as a focal point is customer satisfaction. We want to make it easy for customers to do business with us. People aren’t going to tolerate providers who offer marginal or poor service,” he said. “Anything we can do to improve our service for patients and referring doctors will be valued and help send more patients our way.”

< Previous Story		Next Story >

CURRENT ISSUE

CATEGORIES

HEALTH SOLUTIONS