The independent practice association also distributed around $32 million to member physicians in bonuses, up 18 percent from 2008, according to the report. In 2008, Hill posted slightly higher revenue, at $420.57 million, but lower net income, at a loss of $4.4 million.
Hill CEO Steve McDermott attributed the financial success to new initiatives, such as establishing an electronic health records system, currently in use by about 1,000 physicians. The IPA also developed agreements with Blue Shield of California and Catholic Healthcare West as well as UCSF Medical Group, according to the report.
Read the Business Journal’s report about Hill Physicians’ 2009 earnings.
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