The lawsuit seeks that plaintiffs Hestrup and Peiss, in addition to other "similarly situated individuals whose private information was accessed and/or removed from the network during the data breach," receive reimbursement for compensatory damages and out-of-pocket costs.
#DMG MEDICAL GROUP FREE#
The health care system said it is sending letters to patients who may have been impacted by the incident and plans to provide free identity theft protection and credit monitoring to affected patients. In the DMG MORI Medical Excellence Center, set up specifically for this purpose at DECKEL MAHO Seebach.
#DMG MEDICAL GROUP PATCH#
Our physicians and team members will continue to put patient care first," DMG spokesperson Lisa Lagger told Patch Monday via email as news of the data breach broke. "DMG remains committed to delivering exceptional care for our patients. DMG announced the data breach publicly Monday. 17, DMG was made aware that patient information may have been compromised during the incident. Related: Data Breach May Have Exposed Patient Information: DuPage MedicalĪfter experiencing a network outage that began around July 12 and lasted several days, DuPage Medical Group discovered the outage had been caused by "unauthorized actors" who were able to access the network. Ultimately, for the medical practices that emphasize the building of enterprise value over the long-term (as opposed to maximizing near-term physician income), significant wealth will be created and strong interest from the M&A market will emerge.The lawsuit further contends that the data breach occurred because DuPage Medical Group neglected to sufficiently safeguard patient information and failed to provide "timely and adequate notification of precisely what information was accessed and stolen." Today, DMG demonstrated the tremendous value creation potential that exists by (i) remaining independent, (ii) focusing on earnings generation from ancillary services, (iii) employing intelligent risk-sharing programs with payors and employers, and (iv) retaining a certain level of earnings from physician activities and avoiding the common medical practice model of distributing all profits to practice shareholders at year-end. So, what does the latest DMG transaction mean for other independent multi-specialty practices across the country? Tom Price – an orthopedic surgeon – has been a vocal critic of mandatory bundled payment initiatives while supporting voluntary value-based programs in which independent physician practices are at the core of improving care delivery with enhanced outcomes at a lower overall cost. In the current world of healthcare, reimbursement models are shifting from fee-for-volume to fee-for-value and transferring more risk-sharing into physicians’ hands.”ĭMG’s trend-bucking strategy of deploying an integrated outpatient, physician-led approach to patient care has proven visionary. In a quote widely circulated in today’s press release, DMG CEO Mike Kasper hinted at plans for accelerated growth: “As DMG continues to grow in size and scale, it is critically important for our organization to remain independent and physician-led.” he added, “This partnership, which will particularly benefit our subsidiary Boncura, provides unprecedented access to capital and strategic backing for DMG’s growth initiatives, such as populatiodscape characterized by (i) declining reimbursement, (ii) increasing competition for patient volumes, (iii) rising overhead costs, and (iv) consolidation across the healthcare sector. The Ares investment will allow the medical practice to continue the forward momentum of its aggressive expansion strategy of growing to 1,200 to 1,500 physicians in the next few years while also adding care sites and expanding ancillary services such as imaging, urgent care, physical therapy, and oncology. The company currently boasts 800+ providers – up from 480 physicians in late 2015 – located predominantly in Chicago’s western and southwest suburbs.
The last few years DMG ascended to impressive heights, adding new physicians, expanding ancillary services, and completing over 10 add-on acquisitions. The news is all the more impressive when you take into account that the Ares transaction is a mere 20 months from Summit Partners’ $250 million minority growth (debt and equity) investment into DMG in December 2015. Physicians will also retain a “significant ownership” stake in the practice management company. Under the strategic partnership, DMG’s physician group will remain wholly physician-owned and directed.
DuPage Medical Group ( DMG), one of the largest independent, multi-specialty physician groups in the nation, announced its $1.45 billion deal with private equity firm Ares Management earlier today.
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