The Doctors Company, the nation’s largest physician-owned medical malpractice insurer, has completed its acquisition of Medical Advantage Group, a leading healthcare consulting and management company headquartered in Michigan.
Medical Advantage Group develops and manages physician organizations, independent physician associations, physician hospital organizations, and other healthcare delivery organizations. The Doctors Company owned a large stake in Medical Advantage Group prior to the acquisition, along with Physician Holding Company and about 200 independent physicians. Under the terms of the transaction, Medical Advantage Group joins The Doctors Company as a wholly owned subsidiary and will continue to operate out of its Ann Arbor, East Lansing, and Flint offices.
“This is a strategic acquisition in keeping with our mission to advance, protect, and reward the practice of good medicine,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company. “Our organizations are aligned in that we both provide medical groups and health systems with leading-edge programs to promote quality, and we each provide unparalleled tools to enhance practice effectiveness and patient safety.”
Paul MacLellan, CEO of Medical Advantage Group, predicts that Michigan physicians will benefit from the merger. “With the resources available from the state’s leading healthcare consulting organization and its leading medical malpractice insurer, Michigan physicians are positioned to create a better climate in which to practice medicine. Having a physician-owned and physician-governed parent company ensures that the interests of physicians will continue to be our focus.”
About Medical Advantage Group
Founded in 1996, Medical Advantage Group (www.medadvgrp.com) consults with independent physicians and physician groups to improve quality and efficiency of care by helping providers achieve performance excellence, adopt healthcare technology, participate in managed care contracts, and achieve clinical integration. Since its founding, Medical Advantage Group has helped develop and manage more than 55 IPAs and PHOs in Michigan and more than 6,000 physicians statewide.
About The Doctors Company
Founded by doctors for doctors in 1976, The Doctors Company (www.thedoctors.com) is relentlessly committed to advancing, protecting, and rewarding the practice of good medicine. The Doctors Company is the nation’s largest physician-owned medical malpractice insurer, with 75,000 members and $4.3 billion in assets, and is rated A by A.M. Best Company and Fitch Ratings
About The Premium Group
The Premium Group is licensed in all 50 states to sell medical malpractice insurance for physicians, physician groups, and hospitals. We can help hospitals and health systems lower the cost on medical malpractice insurance. We can also implement steps to lower the administrative burden and cost of implementing new medical malpractice insurance programs.