The Health Capital Group: Experts In Valuation Services, Hospital-Physician Relationships,

Hospital-Physician Transactions, Physician-Physician Relationships,

Strategy Formulation, Compliance and Medical Practice Operations

The Health Capital Group offers comprehensive services relating to both hospital-physician relationships and physician-physician relationships.  Our services include (1) transactional services (mergers/acquisitions, medical practice valuation, contract review/negotiation/arbitration); (2) compliance-related services with respect to both hospital-physician matters and medical practices per se; (3) strategic and planning services dealing with institutional relationships, provider network formation and (4) negotiating services such as ‘finding a common pathway’ among parties and dispute resolution. 

Led by the widely published author and veteran health care consultant/investment banker, James Unland, The Health Capital Group has assisted physicians, hospitals, home health agencies, provider networks and other types of health care entities.  Mr. Unland’s perspective on the health care industry is enhanced by his having served since 1992 as Editor of the Journal of Health Care Finance.

Below our services and our publications/presentations are divided into five areas: valuation of medical practices, medical group practice formation,
provider network formation, physician-hospital collaborations and strategic/business planning.

 Consulting Services And Publications By Type of Service

(James Unland authored the books and articles below unless otherwise indicated
and the listing of Mr. Unland's articles and presentations is a partial listing.)

 Valuation Services:  The Health Capital Group has valued hospitals, nursing homes, home health agencies, hospices and nearly every other type of health care provider and has established a national expertise and national reputation in valuing medical practices for merger or acquisition.  The firm has conducted medical practice valuations with respect to both physician-to-physician transactions and physician-to-hospital transactions.   Having performed over 2,000 practice valuations since 1987, the firm brings a great deal of experience to potential mergers or acquisitions, including valuations of both large group practices and smaller practices as well as valuations of practices in every medical specialty.

 Books Authored

                  Valuation of Hospitals and Medical Centers, The Health Management Research Institute, Chicago, 1989.

Understanding the Valuation of Medical Practices,  Healthcare Financial Management Association, Chicago, 1989.

Enhancing the Value of Medical Practices, American Medical Association, Chicago, 1990.     

                Valuation of Medical Practices, American Medical Association, Chicago, 1994.

A Guide To Buying Physician Practices, (co-author) Atlantic Information Services, Washington, D.C., 1995.

Physician Practice Acquisition Resource Book, (co-author) Findley, Davies & Company, Toledo, Ohio, 1997.

Physician Practice Acquisition Resource Book, (co-author) Findley, Davies & Company, Toledo, Ohio, 1998 Update Version.

Physician Practice Acquisition Resource Book, (co-author) Findley, Davies & Company, Toledo, Ohio, 1999 Update Version.

 Articles Authored

 "When Medical Practices Change Hands," Journal of Ambulatory Care Management, March 1992.

"Buying and Selling Medical Practices," Chicago Healthcare Magazine, August 1991.

"Alert to Hospitals Acquiring Medical Practices: IRS Fiscal 1995 CPE...," First Illinois Speaks, December 1994.

"Hospital Acquisitions of Medical Practices," Journal of Medical Practice Management, March 1995.

"Special Regulatory Alert Regarding Hospital-Physician Transactions," Health Capital Group, February 2000.

 Presentations Given

"The Essentials of Medical Practice Valuation," Practice Development Institute, May 1992.

"Medical Practice Valuation and Physician Compensation Issues", Illinois Association of Hospital Attorneys, November 1995.

"Medical Practice Valuation and Hospital-Physician Acquisition Transactions," College of Healthcare Executives, October 1997.

Medical Group Practice Formation:  The firm has formed numerous group practices over the past ten years.  These include both single-specialty groups and multi-specialty groups.  Often, these projects involve valuation services and services with respect to assisting in negotiations.   Special attention is given to negotiating the terms of the group practice formation, including working with the respective attorneys and accountants who represent individual physicians or groups themselves that may be part of a larger merger project.

 Books Authored

                  The Essentials of Medical Group Practice Formation, American Medical Association, Chicago, 1993.

Capital Formation in Medical Practices, American Medical Association, Chicago, 1993.

Strategic Planning for Medical Practices, Health Management Research Institute, Chicago, 1995.

Physicians on the New Frontier of Medical Management, (co-author) American College of  Physician Executives, 1998.

 Articles Authored

"Taking in Partners," Chicago Healthcare Magazine, May 1991.

"Selected Alternative Models for Group Practices," Journal of The Health Management Research Institute, November 1992.

"The Range of Physician-Physician Transactions," Journal of Medical Practice Management, March 1994.

"The Growing Impetus for Group Practice Formation," Chicago Healthcare Magazine, May 1993.

"Group Practices and Related Transactions," Journal of Medical Practice Management, June 1994.

                 "Capital Sources for Medical Groups", American College of Physician Executives, May 1995.

"Group Practice Formation", American Bar Association, August 1995.

"Regional Super-Groups," Journal of Medical Practice Management, Spring 1996.

"The Imperatives of Group Practice Formation,"  Journal of Health Care Finance, Winter 1997.

"Physician Unions: Bad for Them and Us," Physicians News Digest, March, 1997.

“Reclaiming the Practice of Medicine: The Health Care Challenge of Our Age,”  Physicians on the Frontier,

     Spring 1998.

"The Facts of Life About Physician Unions," Journal of Health Care Finance, Fall 1999.

Presentations Given

"Formation of Group Practices, Physician Organizations and other Alliances", Podiatric Medical Association, September 1994.

Provider Network Formation:  The formation of IPAs, Physician Organizations and physician-hospital joint “contracting confederations” are all included in The Health Capital Group’s consulting services with respect to provider network formation.  These services are especially important to health care providers who do not want to undertake a full-scale merger but who, on the other hand, wish to take advantage of managed care contracting “strength in numbers.”

 Books Authored

 Formation of Physician-Directed Managed Care Networks, American Medical Association, Chicago, 1994.

Structuring Provider Networks for the New Healthcare Consumer, (co-author) McGraw-Hill Healthcare Division, 1998.

 Articles Authored

 "A Preflight Checklist to Help Get Your Network Off the Ground,"  AM News, December 1994.

"The Formation of Physician Organizations in Northeastern Illinois,"  First Illinois Speaks, January 1995.

"Physician Directed Managed Care Contracting," Journal of Medical Practice Management, April 1995.

Provider Sponsored Networks: How Soon Will They Be Viable?," Journal of Health Care Finance, Spring 1996.

"The Emergence of Providers as Health Insurers," Journal of Health Care Finance, Fall 1996.

"The Range of Provider/Insurer Configurations," Journal of Health Care Finance, Fall/Winter 1997.

“The Opportunity for Catholic-Sponsored Provider/Insurer Networks,” Health Progress, Spring 1998.

"The Facts of Life About Physician Unions," Journal of Health Care Finance, Fall 1999.

 Presentations Given

 "Developing Physician-Directed Managed Care Networks," Texas Medical Association, September 1994.

"Characteristics of Highly Evolved Managed Care Networks," LBA Conference, February 1995.

"Forming and Managing POs, Large Group Practices and Managed Care Networks", Harris Bank Consortium, June 1995.

"Opportunities For Bankers In The Rapidly Consolidating Medical Practice Industry", Robert Morris Associates, June 1995.

"Strategic Planning for Physician Practices", National CPA Healthcare Advisors Association, June 1995.

"Advanced Strategies For Managing Your Medical Practice", American Pathology Foundation, July 1995.

"Physician-Directed Managed Care Efforts Throughout the United States", Montgomery Dorsey Symposium, July 1995.

"Evaluating Potential Medical Group Partners and Allies", International Business Communications, September 1995.

"MSO Formation", Metropolitan Chicago Healthcare Council, September 1995.

"The Consolidation of Healthcare Organizations", Illinois Hospital Association, October 1995.

"Managed Care Contracting," Kane County Medical Society, November 1995.

"Formation of Physician Organizations", Colorado Ophthalmology Consortium, December 1995.

"Formation of Provider Networks," Global Business Conference, January 1996.

"The Emergence of Physician-Driven Networks," Global Business Research Conference, January 1996.

"Are Catholic Hospitals Uniquely Positioned to Become Provider/Insurers"?  Unified Health Network, September 1996.

"Can or Should Providers Become Health Insurers?"  Integrated Healthcare Symposium, Winter 1997.

"Reclaiming the Practice of Medicine and Establishing the Provider-Consumer Linkage," Renaissance Meeting, Winter 1997.

“Restoring Accountability in Our Health Care System Through Provider/Insurer Networks,”  Catholic Sponsorship Conference.

"Forming Provider/Insurer Managed Care Networks," American College of Healthcare Executives, November 1997.

"The Imperatives of Collaboration Among Providers and Insurers," Mt. Sinai Medical Conference, February 2000.

Physician-Hospital Collaborations:  The firm has been involved in assisting numerous hospitals and their medical staffs or portions of their medical staffs to achieve some collaborative goal.   This can include the establishment of new medical practices in a community, the expansion of new practices, the establishment of new satellite offices and clinics and the formation of hospital-affiliated group practices.

 Books Authored

 The Essentials of Successful Physician Transactions, The Health Management Research Institute, 1992.

The Comprehensive Guide to Physician-Hospital Transactions, Probus Publishing, Chicago, 1994.

Articles Authored

 "New Ammunition in the Battle to Collect Self-Pay Accounts," Healthcare Financial Management Magazine, December 1991.

"Responding to Physician Needs by Assisting with Practice Consolidation...," First Illinois Speaks, November 1992.

"Transitioning the Practices of Retiring Physicians," First Illinois Speaks, January 1994.

"How the New Safe Harbor Regulations Affect Medical Staff Development," First Illinois Speaks, March 1993. 

"The Range of Hospital-Physician Transactions," Journal of Medical Practice Management, January 1994.        

"Modernizing Medical Practice Information Systems...," First Illinois Speaks, November 1994.

"Hospitals versus Physicians, POs versus PHOs: Who Will Predominate?" Journal of Health Care Finance, Spring 1995.

"Can Negative Views By Physicians About PHOs Be Reversed?,"  Insight Magazine, November 1994.

"Hospitals Beware: Your physicians may take action with or without you," First Illinois Speaks, March 1994.

"Hospital-Physician Relationships in the Managed Care Environment," Journal of Medical Practice Management, August 1994.

"Could PHOs be the Training Wheels for Provider/Insurers," Journal of Health Care Finance, Spring 1996.

"The Berlin Case: Can Hospitals Continue to Employ Physicians?," First Illinois Speaks, Summer 1996.

"The AHA Survey: A Wake-Up Call to Hospitals and Physicians," Modern Healthcare, February, 1997.

"Street-Smart Advice From a Veteran of Hospital-Physician Transactions," Center For Health Industry Performance, Spring 1999.

Presentations Given

 "Having a Comprehensive Medical Staff Development Program," Health Care Financial Management Association, June 1992.

"Structuring Succession Transactions for Retiring Physicians," Society for Healthcare Planning and Marketing, October 1991.

"Establishing a Comprehensive Medical Staff Support Program," Healthcare Financial Management Association, June 1992.

"Hospital-Physician Transactions in the New Regulatory Environment," Chicago Health Executives Forum, July 1992.

"Structuring Hospital-Physician Transactions," Illinois Association of Hospital Attorneys, Chicago, September 1992.

"Transforming a Hospital's Medical Staff into Affiliated Group Practices," American Hospital Association, May 1993.

"Medical Staff Development in the New Regulatory Environment," Healthcare Financial Management Association, May 1993.

"Medical Practice Succession Planning", American Hospital Association, October 1994.

"Opportunities for Collaboration Among Home Health Agencies", VNA of Indiana, February 1995.

"Physician-Hospital Partnership Formation", Holy Cross Hospital Medical Staff, April 1995.

"Hospital Acquisitions of Medical Practices," International Business Communications Conference, Chicago, April 1995.

"The Struggle For Control of Managed Care Contracting", Kane County Medical Society, August 1995.

"PHOs: Are They Permanent or Transitional Entities?," HFMA First Illinois Chapter Conference, January 1996.

"Evolving Physician-Hospital Relationships," Institute of Medicine, March 1996.

"The Facts of Life About Physician Unions," Journal of Health Care Finance, Fall 1999.

"The Imperatives of Collaboration Among Providers and Insurers," Mt. Sinai Medical Conference, February 2000.

Strategic and Business Planning:  Over the years, The Health Capital Group has been involved in numerous planning engagements for both physician and hospital clients.  The President of the firm, James Unland, is known to be a creative thinker who is also astute in terms of knowing what is possible from both the “political” and the business points of view.

 Books Authored

                  Predicting and Preventing Hospital Decline, The Health Management Research Institute, Chicago, 1991.

Understanding Hospital Business Fundamentals, The Healthcare Financial Management Association, Chicago, 1991.

Healthcare Quality and Financial Measures: Comparative Performance of Accredited Hospitals, the Joint Commission (JCAHO), 1993.

 Articles Authored

 "Hospitals in the 90's:  Which Ones Will Survive?"  Journal of The Health Management Research Institute, October 1991.

"The Emerging Opportunities for Home Health Care Networks,"  First Illinois Speaks, Spring 1995.

“Banking Opportunities in the Health Care Industry,” Commercial Lending Review, Summer 1998.

 Presentations Given

 "What Hospital Trustees Need to Know and Do," Healthcare Financial Management Association, June 1992.

"Predicting, Preventing, and Coping with Hospital Bond Defaults," The Health Capital Group, Chicago, November 1990.

"Management and Organizational Structures in the 21st Century", Harvard Club of Chicago, October 1994.

"Managed Care Today", Grossmont Hospital Consortium, February 1995.

"Opportunities for Banks to Serve the Consolidating Physician Market," Robert Morris Associates, March 1996.

"Health Care Trends Impacting Real Estate Strategies," NACORE International Conference, April 1996.

"Banking the Rapidly Consolidating Healthcare Industry," Bank Administration Institute, June 1996.

"The Wall Streetization of Health Care: Can Not-For-Profits Compete"?  Illinois Hospital Association, October 1996.

“Modernizing and Consolidating Public Health Services,” The 1998 Health Management Research Institute Annual Meeting.

Qualifications of the President of The Health Capital Group

  As President of The Health Capital Group, James Unland oversees a Chicago-based firm that provides a wide range of consulting and management services to medical practices, hospitals and other types of health care providers.  Consulting services include: mergers and acquisitions of medical practices, medical practice valuation, group practice formation, formation of provider managed care networks, structuring/negotiating transactions, and assisting financially troubled organizations.  Mr. Unland has authored or co-authored 17 books and countless articles for health care industry publications. Since 1990, he has made presentations to more than 50 health care and business organizations. In addition to serving as President of The Health Capital Group, Mr. Unland is the Editor of The Journal of Health Care Finance.

 Education

 1972        B.A.                         Harvard College

1975        M.B.A.                    University of Chicago

 Recent Memberships, Faculty Positions and Advisory Positions

 Recipient of ACHE’s Dean Conley Award, 1998, for Health Care Management Article of the Year

 Healthcare Financial Management Association

 Medical Group Management Association

Health Finance Lecturer, Loyola University Health Law Institute

 American Health Care Association

 Society for Healthcare Planning and Marketing

 Chicago Health Executives Forum

Healthcare Planning and Marketing Association

To Home