Foundation Surgery Affiliates was founded on January 15, 1996, by Thomas A. Michaud. The company began with three employees occupying a booth at Denny's, and has experienced immense growth in its 10 years of existence. FSA is typically involved in surgery center/surgical hospital projects from inception. Over the years, however, the company has stepped in to meet the needs of our partners by adding new services, which include:
Ancillary Physician Services (APS)
Centralized Business Office (CBO)
Foundation Bariatric Affiliates (WeightWise)
Foundation Continuum of Training (FCOT)
When asked what makes Foundation Surgery Affiliates different from other management/partnership companies, Tom Michaud answered, "One hundred percent, the people. Other companies can have similar buildings or the same computer software, but our people make us stand out. FSA is filled with service oriented individuals who understand that serving people, serving causes and serving God are the most important things in life."
After analyzing numerous surgery center financial models and evaluating the roles played by both physicians and management companies, Foundation Surgery Affiliates determined that physicians' contributions should entitle them to an 80% majority ownership in these projects. FSA's 80/20 model allows physicians to be in control, where other management companies would have a majority interest in the facility. Michaud has structured Foundation Surgery Affiliates where the ownership structure provides the physician partner group control over all aspects of the project, at all times. FSA's equity position is purchased on the exact same basis, dollar for dollar, as the physician partners. Where other companies only offer 49% or less ownership, Foundation Surgery Affiliates offers 80% because it is not a public company and does not have to own the majority of a project.
Despite the numerous changes in the ambulatory surgery center industry over the years, FSA 's model has remained the same and caught the attention of other management companies. Michaud says you can either have a business approach to healthcare or a healthcare approach to business. Michaud also notes "If you are a surgery center with a physician/management partnership, it is a healthcare approach to business. In our centers, we provide an environment where the patient intimidation factor is removed."
Bob Byers, the Chief Operating Officer and President of Foundation Surgery Affiliates says, "We want patients, when they visit a Foundation facility, to have a good experience. The only way to do that is to make sure that your people enjoy where they are working and that they enjoy their job. We try to make the experience for our doctors void of hassles, so they can come in and do what they are trained and experienced to do. Foundation Surgery Affiliates is experiencing substantial growth and our challenge is to keep our close-knit family group together throughout such growth. We will continue our work to make Foundation Surgery Affiliates the best employer in the country."