MEDNAX is a multi-specialty medical group with a national focus. It is the holding company of Pediatrix Medical Group, American Anesthesiology, and Mednax Services. The network is comprised of nearly 2,000 affiliated physicians, specialty practitioners, and subspecialists who provide neonatal clinical care, obstetrics, and pediatric care, primarily in hospital-based intensive care units in about 35 states and Puerto Rico. It also operates a growing number of anesthesia practices. MEDNAX also conducts clinical research and offers practice administration services to physician members and hospital customers in the areas of billing, compliance, managed care contracting, recruiting, risk management, and staffing.
To reflect its broadening operations beyond pediatrics, the company undertook a name and business structure change in late 2008, with MEDNAX established as a holding company.
Today, the company's business strategy is to become a leading provider of physician services by acquiring smaller physician practice groups across the US and continuing to develop administrative expertise. The goal is to retain and strengthen existing physician practice relations and win new contracts by offering services and management information systems that improve operational efficiencies.
A majority of the company's net patient service revenue comes from contracted managed care provided to hospitals. Another significant portion is received from government-sponsored plans, principally state Medicaid programs. MEDNAX's five largest markets are Texas (with more than 20% of patient service revenues), North Carolina, Florida, Georgia, and Washington.
Pediatrix Medical Group's affiliated physicians specialize in maternal-fetal health for high-risk pregnancies, pediatric cardiology, and care for critically ill or injured children. It also conducts multi-center clinical trials and publishes research papers based on data from the network's clinical information systems, clinical trials, and from its individual practice efforts. Additionally, Pediatrix Medical Group provides educational opportunities to its physicians, and it has established a Patient Safety Organization tasked with improving the quality and safety of care by collecting and analyzing data related to patients. The group grows primarily through acquisitions.
The company acquired 10 physician group practices in 2011. These included three maternal-fetal medicine practices, a neonatal intensive care group, one pediatric cardiology practice, two other pediatric subspecialty practices, and three anesthesiology practices. Purchases in 2010 included 15 physician group practices, including Associates in Neonatology in Florida, a four-physician neonatal practice in New York, a six-physician practice in Washington State, a two-physician group in North Carolina, and a pediatric cardiology physician group in Texas.
Hoping to reproduce its pediatric business model for its anesthesiology business, MEDNAX continues to expand its network of practices in 2012. It also continues to make purchases in pediatric specialty fields. – less