New Hyde Park, N.Y.-based Northwell Health and private equity firm Pamplona Capital Management have created a new business, Formativ Health, which will offer comprehensive management services to assist physician practices.
Formativ will offer physician practices tailored revenue cycle management solutions, patient access services, physician practice management and advisory services. It intends to enable 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 improve the patient experience.
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 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," Michael Dowling, president and CEO of Northwell Health, said in a statement. "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."