Hospitalist company announces physician growth

NEWS IN BRIEF — Posted March 5, 2012

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IPC The Hospitalist Company, based in North Hollywood, Calif., added a significant number of physicians in 2011 either through practice acquisition or hiring, and it plans to bring on more in 2012. The plans for growth were in a statement on the company's fourth-quarter 2011 results, issued Feb. 21.

"Our acquisition pipeline remains strong, with a significant number of physician practices in both the acute and postacute areas," said Adam D. Singer, MD, IPC's CEO.

The practice management company purchased 13 practices in 2011. With these deals and by hiring additional doctors, IPC finished 2011 with more than 1,200 physicians, a growth of 169 from the end of 2010.

Most practices are hospitalist in nature, although the company has branched out into wound care as well as medical services in nursing homes and assisted-living facilities.

Expansion is driving a significant proportion of the company's financial growth. Compared with 2010, net revenue went up 26% to $457.5 million in 2011. The number of patient encounters increased 25% to nearly 4.8 million in 2011. Net income went up 21% to $29.3 million for 2011.

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