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.
California's Hill Physicians Posts $4.7M Net Income in 2009Written by Staff | May 19, 2010
San Ramon, Calif.-based Hill Physicians Medical Group, which represents around 3,000 physicians in Northern California, reported nearly $4.7 million in net income for 2009 on $419 million in revenue, according to a report in the Sacramento Business Journal.
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