Physicians’ First Bancorp, Inc is focused on the survival and growth of private practice orthopedics and MSK medicine. PFBI intends to bring the ASC model to banking. PFBI will achieve this by allowing and embracing physician ownership.
We will provide superior service, better efficiency, and better financial outcomes for both the physician owners and the patients.With loan officers that understand the MSK needs, we will be able to recapture equipment financing, provide practice buy-in loans, patient deductible loans, and all the other more typical banking products used by physicians and their practices. The physician-owners will essentially be paying the interest to themselves. In other words, making money for doing something they were going to do anyway rather than having to increase their efficiencies and workloads. You can schedule a call to learn more at www.pfbancorp.com .
We have partnered with a software company, Agent IQ, to provide state of the art software to return relationship banking to the bank’s customers-physicians, patients, and employees. With Agent IQ, we believe we can bring the personal banking experience of walking into a bank or branch and looking the person in the eye you are doing business with right from the convenance of your home, office, surgery center or wherever you are. All you will need is to download our app and a broadband
connection.
As a bank holding company, PFBI can also provide a full suite of insurance products, 401k management, financial planning, and investment banking. All this is done by monetizing the cash flow of the physician owners and putting it to work generating revenue for you rather than letting other financial institutions profit from your capital and hard work. Because we are outside Stark, the physicians can realize all the benefits of ownership and more importantly take their equity with them into retirement.
We are proud to announce strategic partnerships with PELTO and Pitch Sink.
PELTO is an Independent Physician Partnership (IPP) that is a physician-owned and led organization dedicated to improving the operational and financial performance of healthcare practices through innovative solutions. PFBI and PELTO both recognize that the best, most cost efficient MSK care is still delivered in private practice. Hospitals and private equity (PE) use their financial power to improve margins rather than patient care. PFBI and PELTO are working to aggregate physicians outside of our geographic competitiveness to improve margins while also improving the care of the patient.
Pitch Sink similarly recognizes the many revolutionary ideas created by physicians that are then lost to industry because of a lack of resources to bring their ideas to market. By connecting medical innovators with elite professionals through an a la carte offering of services, they have created a cost-efficient incubator allowing physicians to own their own ideas.
Dr. Tom Chambers, a founding partner of PFBI, shared his perspective, stating, "Aligning with these organizations and creating a shared business entity is a strategic move towards bringing doctors from different groups all over the US together into the business of medicine. PFBI will enhance the specialized financial service needs required by the healthcare sector through our shared physician-led backgrounds thus ensuring a deep understanding of the financial hurdles healthcare professionals and patients face, enabling us to craft solutions that are not only effective but also empathetic to the needs of all involved in the delivery of care to the patient."
Dr. Chambers also stated, “for far too long, we as physicians have allowed entities such as hospitals, insurance companies and now private equity (PE) to leverage our degrees, hard work, and scripts and turn that into ridiculous profits while driving up the cost of care to our patients and while increasing our overhead. They have interfered with the most important aspect of medicine, and the care of the patient which is the patient/physician relationship. It’s our work, our relationships, our scripts and yes, our capital, and it’s time we own it.”
We are excited to be one of the sponsors at Becker’s Spine, Othopedics and ASC Meeting in June as well as the ASC meeting in October. We are currently working on other exciting partnerships to come in the near future. Please follow us on Linkedin and visit us at the upcoming Beckers Conference and at www.pfbancorp.com .