Northwell Health, Pamplona Capital Management Launch Management Services Organization for Physician Practices

NEW HYDE PARK, N.Y., Jan. 6 -- Northwell Health (formerly the North Shore-LIJ Health System) issued the following news release:

Northwell Health, New York State's largest health care provider, and Pamplona Capital Management, a private equity firm, today announced the creation of a new business, Formativ Health, which will offer comprehensive management services to assist physician practices. Formativ's offerings include tailored revenue cycle management solutions, patient access services, physician practice management and advisory services. The business allows health system employed physician groups and independent physicians to improve their financial health, adapt to changing risk-based payment models, increase physician productivity and satisfaction, and positively augment patient experiences.

Formativ enables physicians to leverage a network of the nation's most accomplished physician management, patient access and revenue cycle experts to customize - and continually optimize - unique solutions that drive results specific to their business and operational goals. Through end-to-end revenue cycle management, practice management, advisory services and its suite of technology products that integrate with any existing platforms, Formativ is designed to enhance revenue and operating margins, grow service volume and decrease referral leakage, and improve physician satisfaction.

Formativ's patient access services improve the patient, physician and office staff experience with a single branded contact point for physician groups while also enabling care coordination and disease management activities for patients in risk-based payment programs. The company's offerings increase percentage of collections while lowering time and cost to collect. The business' advisory services are focused on network development, payor contract design and physician alignment.

"We want physicians to focus on what matters most - providing the best patient care," said Dennis Dowling, Formativ CEO. "Formativ does this by relieving administrative burdens, improving the physician experience and ultimately increasing patient engagement."

"Formativ is a best-in-class organization that Northwell Health helped create based on its quarter-century of experience in growing its employed physician group and delivering care to hundreds of thousands of patients annually," said Michael Dowling, president and CEO of Northwell Health. "Formativ will meet the needs and expectations of physicians by combining their thoughtful approach to patient care with high-quality services and agnostic technology that have produced proven results."

Formativ has a commercial and operational relationship with Pamplona-owned nThrive, the leader in Patient-to-PaymentSM revenue cycle management, for the delivery of services to employed physician groups and independent physicians.

Formativ is the latest addition to Pamplona's growing portfolio of health care offerings. "Formativ's comprehensive offerings meet the increasingly complex needs of ambulatory physicians, and the partnership of private equity and health system creates a unique business with a provider heritage and an independent commercial focus," said Pamplona Partner Jeremy Gelber, MD.

Northwell Health and Pamplona invested capital to create Formativ. Northwell Health's employed physician group will be one of more than 400 existing customers of Formativ, which serves over 5,000 physicians.

About Northwell Health

Northwell Health is New York State's largest health care provider and private employer, with 21 hospitals and over 550 outpatient facilities. We care for more than two million people annually in the metro New York area and beyond, thanks to philanthropic support from our communities. Our 61,000 employees - 15,000+ nurses and nearly 3,400 physicians, including nearly 2,700 members of Northwell Health Physician Partners - are working to change health care for the better. We're making breakthroughs in medicine at the Feinstein Institute. We're training the next generation of medical professionals at the visionary Hofstra Northwell School of Medicine and the School of Graduate Nursing and Physician Assistant Studies. And we offer health insurance through CareConnect. For information on our more than 100 medical specialties, visit Northwell.edu

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