Cascade Partners Speaks with MiBiz on Grand Rapids Ophthalmology's Plan to Expand

Interested in reading the plans Grand Rapids Ophthalmology has for expansion?

Read the entire article here at MiBiz.

Here is an excerpt:

"The pressures from the changing economics, a tougher reimbursement environment and value-based contracting in health care have been driving consolidation for some time among physician practices, said Rajesh Kothari, managing director of Southfield-based investment banking firm Cascade Partners LLC that advised Grand Rapids Ophthalmology on the deal.

That consolidation trend is now pushing into specialties such as ophthalmology, dermatology and emergency medicine practices, Kothari said.

“It’s harder and harder as a small practice to be able to compete against the insurance companies, compete against the hospital systems and ultimately live with the changing world of Medicare and Medicaid,” he said.

A report Cascade Partners issued last summer noted the aging population is driving up incidence rates of macular degeneration, cataracts and glaucoma. It also cited health care reform as expanding the number of patients with vision benefits. Combined, those two trends are driving opportunity for the entire vision market.

“Eye care is a very fragmented market and there’s no big consolidator,” Kothari said."