Advanced Dermatology and Cosmetic Surgery, the nation’s largest dermatology practice, acquires dermatology clinic in Rhode Island
Maitland, FL – ADCS Clinics (“ADCS”) announced it has completed the acquisition of Dermatology Associates Inc, a practice owned by Dr. Anita Pedvis-Leftick in East Greenwhich, RI.
Dr. Anita Pedvis-Leftick graduated from Skidmore College in 1970 with a Bachelor of Arts degree in Biology and Chemistry. She went to McGill Medical School in Montreal, Canada. She subsequently did an internship in pediatrics followed by a year in internal medicine. Dr. Pedvis-Leftick then went to the University of Illinois and completed a three-year training program in dermatology.
Dr. Pedvis-Leftick is board-certified in dermatology both in Canada and United States and was in private practice in Canada from 1980 until 1997 until she moved to Danville, Illinois where she was on staff at Provena Hospital.
In January 2000, Dr. Pedvis-Leftick moved to Providence, Rhode Island and joined the dermatology department at Roger Williams Medical Center, where she was involved in the training of dermatology residents. In 2013, she went into solo practice with a particular interest in psoriasis and contact dermatitis. Dr. Pedvis-Leftick supervises dermatology residents at Brown University in a contact dermatitis clinic.
Dr. Matt Leavitt, Founder and CEO of ADCS, said, “We are thrilled to have the talents of Dr. Pedvis-Leftick and her team as a part of ADCS. They have a great following in the area and are dedicated and committed to the care of their patients.”
“This is our first acquisition in Rhode Island as we continue to expand our presence in the Northeast to provide patients with better access and care to our doctors.” said Dave Morell, President & COO of ADCS.
March 27th, 2017 - Blog, News, News & Media - ADCS
Advanced Dermatology and Cosmetic Surgery, the nation’s largest dermatology practice, acquires dermatology clinic in Michigan
Maitland, FL – ADCS Clinics (“ADCS”) announced it has completed the acquisition of Oakland Dermatology Associates, a practice owned by Dr. Neldagae Chisa in Bloomfield Hills MI.
Neldagae Chisa, M.D. has been providing quality dermatology care for over 50 years. She trained at the University of Oklahoma School of Medicine and completed her dermatology residency at Henry Ford Health System. She also has a certificate of competence in dermatopathology. She is a member of the American Academy of Dermatology as well as the American Society of Dermatopathology. Dr. Chisa is also a member of the Oakland County and Michigan State Medical Societies and the Michigan Dermatological Society. She enjoys all opportunities to help her patients with all aspects of dermatology care.
Dr. Matt Leavitt, Founder and CEO of ADCS, said, “it’s a privilege and honor to have Dr. Chisa at ADCS. She is a distinguished dermatologist and an expert in various skin disease states that makes her a valuable addition to our practice.”
“This acquisition in Michigan continues to expand our presence and provide patients with better access to our doctors. We now have 6 clinics in the metropolitan Detroit area where we will continue to provide superior patient care,” said Dave Morell, President & COO of ADCS.
ADCS, founded in 1989 by Dr. Matt Leavitt, is a dermatology-focused practice with over 180 clinics in Arizona, Colorado, Florida, Georgia, Maryland, Michigan, Nevada, Ohio, Pennsylvania, South Carolina, Virginia and Wyoming providing clinical, cosmetic, surgical and pathology services. ADCS also provides billing and coding management services for almost 90 third-party dermatology practices across the nation under the Ameriderm™ trade name.
March 21st, 2017 - Blog, News, News & Media - ADCS
Maitland, FL – ADCS Clinics (“ADCS”) announced it has completed the acquisition of Scottsdale Dermatology owned by Glenn Yarbrough, M.D. with locations in Scottsdale and Phoenix.
Dr. Glenn Yarbrough has been providing quality dermatology care in the valley for over 30 years. Dr. Yarbrough trained at Texas Tech Health Sciences Center. He is an American Board of Dermatology and a member of the American Academy of Dermatologists. Dr. Yarbrough enjoys all opportunities to help his patients with skin care including skin cancer screening, treating adult and teen acne, correcting sun damage, performing necessary biopsies and all other aspects of dermatology care.
Dr. Carl Yarbrough, Glenn Yarbrough’s father, established the practice in 1972 making it one of the longest continuous dermatology practices in the state of Arizona. Glenn Yarbrough has since expanded Scottsdale Dermatology to include Phoenix Dermatology located in Desert Ridge Medical Pavilion.
Dr. Matt Leavitt, Founder and CEO of ADCS, said, “it’s a privilege and honor to have the expertise of Dr. Yarbrough at ADCS. He is a distinguished dermatologist and an expert in various skin disease states that makes him and his team valuable additions to our practice.”
“This acquisition in Arizona continues to expand our presence and provide patients with better access to our doctors. We now have 6 clinics in the metropolitan area where we will continue to provide superior patient care,” said Dave Morell, President & COO of ADCS.
ADCS, founded in 1989 by Dr. Matt Leavitt, is a dermatology-focused practice with over 172 clinics in Arizona, Colorado, Florida, Georgia, Maryland, Michigan, Nevada, Ohio, Pennsylvania, South Carolina, Virginia and Wyoming providing clinical, cosmetic, surgical and pathology services. ADCS also provides billing and coding management services for almost 90 third-party dermatology practices across the nation under the Ameriderm™ trade name.
January 23rd, 2017 - Blog, News, News & Media - ADCS
Maitland, FL – ADCS Clinics (“ADCS”) announced it has completed the acquisition of Dermatology Associates of Colorado owned by Leslie Capin, MD, James DeVito, MD, and Kimberly Maino, MD. Dermatology Associates of Colorado has four locations in Denver area: Aurora, Castle Rock, Englewood and Parker. ADCS is also acquiring Cara Mia Medical Spa which is owned by Dr. Capin.
Dr. Capin is the founder of Dermatology Associates of Colorado and has been practicing dermatology since 1986 in the Denver area. She is a board-certified dermatologist and received her dermatology training and medical education from the University of Colorado Health Sciences Center. Although Dr. Capin oversees and is medical director of Cara Mia Medical Day Spa, her true passion is general dermatology with a particular interest in rare skin disorders and the complex patient. Dr. Capin is also passionate about education, having started the nation’s first Dermatological Nurse Practitioner training program at Regis University. She has served on many boards and advisory councils over the years and is active in the Denver philanthropic community.
Dr. Capin has received numerous awards including “Top Doc” in Denver’s 5280 magazine, “Top Medical Day Spa” in 5280, Business Women of the Year in Healthcare by the Denver Business Journal and Top 100 Women Owned Businesses in The Denver Business Journal. She has also received a Presidential Citation from the American Academy of Dermatology. The Max Fund has recognized Dr. Capin with one of their “special awards”. Dr. Capin will be receiving the distinguished Humanitarian award from the Melanoma Research Foundation in April of this year.
Dr. Capin completed a two-year fellowship in Integrative Medicine in January 2015 under Dr. Andrew Weil from the University of Arizona. Dr. Capin has begun to incorporate what she has learned in her fellowship into her everyday practice and feels that she is able to offer her patients complementary and alternative treatments. She is the only Dermatologist in Colorado who has completed this fellowship. Her focus is on treating the “whole” patient, not “a disease”.
Dr. Capin lives in the town of Parker with her Million dollar dog, “Dr. Papidies”. Google Dr. Papidies to read about their story.
Dr. Matt Leavitt, Founder and CEO of ADCS, said, “It’s an honor to have Drs. Capin, DeVito, Maino and their team (Kevin Boyd MD, Maria Sheron MD, Lila Orr, FNP-C, Nicole Glischinsk, PA-C, Joseph Cari, PA-C, Denise Adams, RN, Maureen Dooley, RN, Geri Dellacroce, PMA and Ana Stearns, PMA) on board with us at ADCS. They are extremely talented providers who are well respected in the community and committed to the care of their patients. Dr. Capin will be staying as an employee of ADCS continuing to take care of all of her clinic and spa patients. Patients will continue to get the excellent state of the art care that they have always received.”
“This acquisition in Colorado continues to expand our presence in Denver Area and provide patients with better access to our doctors. We now have 17 clinics in the state and 9 in the Denver metropolitan area where will continue to provide superior patient care. ” said Dave Morell, President & COO of ADCS.
ADCS, founded in 1989 by Dr. Matt Leavitt, is a dermatology-focused practice with over 170 clinics in Arizona, Colorado, Florida, Georgia, Maryland, Michigan, Nevada, Ohio, Pennsylvania, South Carolina, Virginia and Wyoming providing clinical, cosmetic, surgical and pathology services. ADCS also provides billing and coding management services for almost 90 third-party dermatology practices across the nation under the Ameriderm™ trade name.
January 20th, 2017 - Blog, News, News & Media - ADCS
Maitland, FL – ADCS Clinics (“ADCS”) announced it has completed the acquisition of Castle Dermatology and Laser Center owned by Stephen P. Castle D.O.
Dr. Castle is a Board Certified Dermatologist with over 22 years of practice experience. He is a graduate of Wooster College in Wooster, Ohio and The University of Osteopathic Medicine and Health Sciences, Des Moines, Iowa. He completed his dermatology residency at Fitzsimons Army Medical Center in Aurora, CO where he was Chief Resident. Dr. Castle completed his fellowship in Mohs Surgery in 1999. He was also a Major in the US Army Medical Corps on active duty from 1987 to 1996 and US Army Reserves from 1983 – 1987. In 1992, Dr. Castle was awarded the Meritorious Service Medal.
Dr. Castle is a Fellow of the American Academy of Dermatology and the American Society for Mohs Surgery. He is also a member of the Associations of Military Dermatologists and Military Osteopathic Physicians and Surgeons. He was recently awarded “Best of Greeley” in November 2016 for his dermatological services.
Dr. Castle treats all general skin problems including acne, eczema, psoriasis, skin and nail problems. He believes in the “holistic” philosophy in medicine. He prides himself on spending adequate time with patients to understand the true cause of medical disease and to get to know each patient as a person, and to have them feel at ease. Medical illness and the patient’s wellness is closely tied, not only to the structural integrity of the muscular-skeletal system, as is part of the Osteopathic Theory, but also to the patient’s emotional state and mental health. Dr. Castle enjoys understanding how medical illness and skin disease is related to stress, nutrition, and an overall feeling of well-being. He believes patients do better and respond to treatment more effectively when they feel confident that their physician sincerely cares.
Dr. Matt Leavitt, Founder and CEO of ADCS, said, “We are thrilled to have the talents of Dr. Castle and his team part as a part of ADCS. They have a great following in the area and are dedicated to the care of their patients.”
“This acquisition in Greeley continues to expand our presence in Northern Colorado and provide patients with better access to our doctors. This is our second office in the Greeley area where will continue to provide superior patient care. ” said Dave Morell, President & COO of ADCS.
January 3rd, 2017 - Blog, News, News & Media - ADCS
Advanced Dermatology and Cosmetic Surgery (ADCS), the largest integrated group of dermatology practices in the U.S. with over 150 locations, and the leading teledermatology platform provider Iagnosis, Inc., today announced a partnership that is now delivering high-quality, convenient online dermatology care to patients in Florida.
While initially available in Florida, ADCS plans over the coming year to expand use of the Iagnosis teledermatology platform to the 13 other states where ADCS locations are found.
Dr. Matt Leavitt, founder of ADCS and board-certified dermatologist, said: “Our new online dermatology offering to patients not only keeps pace with trends in tele-healthcare and consumer demand for greater scheduling flexibility, but it ensures that patients get the most appropriate care for their condition. With dermatology being such a visual specialty area, online visits using digital photos work extremely well and we are very excited to offer our dermatology medical care through this option.”
Both new and existing patients in Florida can select one of the ADCS available dermatology specialists through the new online visit service, without the need for an appointment. Through the online visit, the patient will receive a diagnosis and personalized treatment plan for medical conditions affecting the skin, hair, or nails. Patients only need Internet access and a device for taking digital photos of their problem issue.
To use the service, patients simply go to https://advancedderm.com/online-virtual-visits to start an online visit, or they can download the ADCS dermatology mobile app from the App Store or on Google Play™.
Here’s how it works:
- An online ADCS dermatology visit guides patients through several simple steps of creating a patient profile, collecting some medical history and uploading photos of their problem condition. There is no need to schedule a video conference; the patient simply submits their information.
- The patient selects which ADCS provider they prefer to review their case, and that provider responds with a diagnosis, personalized treatment plan and any prescription orders sent to the patient’s preferred pharmacy. Online visits are typically completed in 24 hours.
- When medically necessary, the patient may be referred for an in-office visit.
- The cost of the online visit is $59.
Parents or guardians can conduct online dermatology visits for children or others in their care. More than 3,000 conditions can be reviewed through online visits, with the most common cases including acne, rashes, eczema, rosacea, psoriasis, toenail fungus, suspicious moles, melanoma and other skin cancers.
Advanced Dermatology and Cosmetic Surgery’s online visit solution is enabled through a partnership with Iagnosis, the largest provider of a teledermatology-exclusive platform currently used by more than 200 board-certified dermatologists across the U.S. The solution is compliant with HIPAA and HITECH online healthcare information standards for patient data security.
“Patient safety and satisfaction are of paramount importance to us, even in a tele-health setting, and we believe we have an excellent platform to offer this service,” added Dr. Leavitt.
“We are very excited to announce this partnership with Advanced Dermatology and Cosmetic Surgery, which has shown tremendous leadership and innovation in the dermatology field. Adding a teledermatology service is another example of their commitment to make care even more convenient for patients,” said Dave Zynn, Chief Executive Officer of Iagnosis.
About Iagnosis: Iagnosis, Inc. is focused on delivering faster healthcare treatment to patients through web-enabled solutions. Its flagship product, DermatologistOnCall®, is best-in-class for helping board-certified dermatologists in the U.S. offer patients convenient 24/7 online and mobile access to affordable, high-quality skin, hair and nail medical care. Iagnosis has been recognized in the industry for its innovation and high patient satisfaction ratings, and the company actively partners with physician practices, health systems, retailers, and other organizations to provide comprehensive and personalized care solutions to patients. Visit www.DermatologistOnCall.com to start an online dermatology visit, or www.iagnosis.com for corporate information.
December 5th, 2016 - Blog, News, News & Media - ADCS
The Dermatologist: Volume 24 – Issue 10 – October 2016
Author: Rochelle Nataloni, Contributing Editor
Consolidation is a trend that is gaining momentum in dermatology. Practices are partnering with others to enjoy economies of scale and enhanced bargaining power; practices are being purchased by entrepreneurial-minded dermatologists; and perhaps most notably practices are being acquired by private equity firms that are actively courting high-profile providers.
The private equity footprint is becoming increasingly clear in the health care landscape; and investors are acquiring dermatology practices at a notable rate. Out of 200 private equity acquisitions of medical practices in the past 2 years, 30 have been dermatology practices . Robust growth in dermatology in the coming years is among the reasons that this specialty appeals to investors. As of 2014, 42% of dermatology patients were over age 60, and the US Department of Health and Human Services estimates this percentage will continue to increase until 2030 . As a result, the US market for skin disease treatment, which totaled $7.5 billion in 2015, is expected to reach $8.6 billion in 2020 .
Interest from the private equity community is fueling much of the consolidation trend that was already underway in dermatology. In 2014, an investment banking firm published, Skin in the Game, a primer on private capital investment in dermatology practices . In this report, the authors describe several factors that contribute to the attractiveness of dermatology practices as investment platforms: “Dermatology remains a highly fragmented market, and the multisite, multi-unit structure of group practices is ideal for pursuing ‘buy and build strategies.’ Elective, cash pay, ancillary services in cosmetic dermatology allow for direct-to- consumer marketing, while medical dermatology provides a solid foundation for recurring cash flow. Practice branding lends well to physician transition, unlike other medical specialties where the practice goodwill resides predominantly with the physicians.”
Consolidation is Trending
The strong dermatology market is among the reasons for private equity firms investing in the specialty, but what is behind dermatologists’ selling their practices? Administrative burdens such as requirements of the Affordable Care Act and transition to ICD-10 are making it more cumbersome to operate a practice, and declining reimbursement and rising costs can make it more stressful. The percentage of doctors spending more than one day a week on paperwork rose between 2013 and 2014, from 58% to 70% and nearly one-quarter spend more than 40% of their time on administration, according to The Second Annual Practice Profitability Index, which also reports that interest in selling is rising . According to the report, while many independent physicians still wish to remain independent, the percentage of independent physicians declined from 60% in 2013 to 53% in 2014.
Whether you are a well-established partner in a medium-sized group practice, a relatively new dermatologist employed by a company that owns and operates several practices throughout a region, or a soon-to- be-retired practitioner in search of an attractive exit strategy from the practice that represents a lifetime of work, you might be wondering what the ramifications of consolidation mean for individual dermatologists and the practice of dermatology as a whole.
Some dermatologists are suspicious of the new business model and are questioning if the influx of large practices and private investors will mean loss of control for practitioners in the long run and fixation on the bottom line by investors.
Bruce Glassman, MD, has a different story to tell. His solo practice, Capital Dermatology in Alexandria, VA, which he operates along with 3 other physicians and a physicians assistant, was recently acquired by the country’s largest dermatology practice, Advanced Dermatology & Cosmetic Surgery (ADCS). Dr Glassman ran Capital Dermatology successfully since 1994, but said increased governmental impositions such as The Physician Quality Reporting System, Medicare Access and CHIP Reauthorization Act of 2015, and The Merit-based Incentive Payment System made operating the practice much more difficult for a single owner. “It’s a challenge,” Dr Glassman said. “You end up spending much more time dealing with those things and the other administrative aspects of human resources and billing.”
Dr Glassman had been receiving cold calls from various investors who were interested in his practice. His dissatisfaction with the time constraints placed on him by the growing tangle of red tape inspired him to meet with several of them. Some of the groups had little involvement in health care, some were interested in acquiring his practice and tapping his expertise to have him head a group of other dermatology practices that would also be acquired.
His meeting with Maitland, Florida-based ADCS, which is led by its founder Matt Leavitt, DO, and owned by private equity firm Harvest Partners, ended up being the best fit, he said.
“Some companies saw me as a great way to get into the field, and others wanted to add me to their platform,” explained Dr Glassman. “With ADCS, I immediately felt like I had less pressure in my life because I was dealing with people who knew what they were doing.”
It’s been about 4 months since his practice was acquired by ADCS and he is still glad he made the deal.
“Advanced Dermatology had a pretty simple approach. They had a tremendous infrastructure already in place, which many of the other companies did not have. ADCS offered the opportunity to practice medicine the way I always have, but I would be able to let them handle the human resources, let them handle the billing, let them handle the government regulations, let them handle all the compliance issues, and still continue running my practice and making my patients happy. It was an opportunity to simplify my life by getting rid of a lot of the stress that goes along with running a practice so that I could focus more on practicing medicine and living my life, instead of investing time in a lot of minutiae,” said Dr Glassman.
He has not been asked to change the name on his practice’s front door and his staff has remained the same. “ADCS does not come in and blow up your practice and say you’ve got to do it this way or else,” he said.
Dr Glassman suggested that the biggest misconception about an arrangement like his with ADCS is that physicians lose control. He pointed out that being part of a large company actually offers greater power than the average dermatologist has today. “There’s power in numbers. If you have more people working for the same company, that company will potentially have market share and can effectively represent you at the negotiation table with insurance companies that are trying to cut back your fees. I feel like I have done a great thing for the doctors who work with me. They now have the power of a large corporation behind them,” said Dr Glassman.
The Safety of Scale
ADCS’ founder and chief executive officer Dr Leavitt, echoed Dr Glassman’s suggestion that there’s safety and security in economies of scale. “Today’s practices are definitely at greater risk from consolidation of insurance providers and changes associated with that. None of us really know exactly where that trend is headed, but I’m certain there is an inherent benefit for practices being part of a larger entity—especially if there is enough penetration in a geographic area. It would be very hard for an insurance company to move away from you, if you have enough practices highly penetrated in one area.”
Dr Leavitt said he understands the concerns of dermatologists who find the concept of private equity ownership of dermatology practices worrisome. He said there was a time when he too had concerns, and as an average dermatologist he did not know much about the workings of private equity. Today he is the face behind 157 practices across the country. “I had a bit of an entrepreneurial bent and some money because I didn’t take a salary for a few years. I just kept investing it back into my practice, and little by little I opened a couple of practices and then a few more,” he said. “Soon I had 50 practices and I was managing other practices through my company AmeriDerm. I didn’t borrow any money; I financed everything myself. I had a very successful hair restoration business that I sold and then I had more money and I started getting requests from friends and friends of friends who wanted me to buy their practices. It started as something that generated from relationships and eventually it just caught fire.”
Dr Leavitt said at that point he began to investigate if there was a way to get help handling the endeavor—which had morphed in a conglomeration of practices worth tens of millions of dollars—without giving up any control. He learned about private equity and was intrigued. “On a scale of one to 10, my skepticism was a nine,” said Dr Leavitt. “I didn’t trust outside money coming into medicine so I tried to look for a group that wouldn’t tell us how to practice medicine or run everything by a spreadsheet.” He found such a group and that relationship lasted 5 years. Recently, ADCS was sold to another private equity firm, which Dr Leavitt said he picked with the same goal of maintaining autonomy over medical practice decisions. In May 2016, ADCS was purchased by the New York-based private equity firm Harvest Partners in a deal reportedly worth more than $600 million .
“I feel like we’re unique. We are not like other companies that brought in outside CEOs [chief executive officers] and managers. All the people that founded ADCS are still here…We’ve added [positions] not subtracted,” said Dr Leavitt. Similarly, when ADCS acquires a dermatology practice, it is with the understanding that the selling physician and his or her staff can remain until they decide to move on. “I wasn’t looking to create an empire,” said Dr Leavitt. “The way I look at this is that I have an opportunity to buy practices from people who are frustrated, and we take the administrative frustrations away and enable them to concentrate on practicing medicine.”
Dr Leavitt added, “Dermatologists make 100% of all medical decisions; they do not ever have to answer to outside business people.”
He stressed that practice owners should never sell unless they think the change will improve their quality of life. “I wouldn’t tell somebody to do it for the money. It should really fit into their holistic plan of what they want their life to be like,” he said.
Dr Leavitt acknowledged that consolidation is a popular move among pre-retirees who are looking for a lucrative exit strategy, with guaranteed employment until they are ready to hang up their lab coat.
W. Patrick Davey, MD, a dermatologist who has been involved in a multitude of practice types and is a former chair of the American Academy of Dermatology’s Practice Management Committee, has observed the influx of private equity and said that it is too soon to know what this will mean for the specialty in the long run. “It can be a smart move albeit one with some loss of autonomy,” he noted.
“I spent 20 years in a large group practice, moved on to my own small solo practice for a few years, and now I’m building a surgical practice again and the principal partner in the group is one of my former medical students,” Dr Davey said. “The administrative burden of trying to run a group practice today with increasing demands for documentation, electronic record keeping, and insurance carrier consolidation are all part of what’s making physicians sell. Physicians are getting to the point where they feel like they need to have more professional management and one way they feel they can afford to do that is to join a larger group and have the group managed across multiple practices.”
Dr Davey pointed out that a downside is that oftentimes dermatologists who sell lose the autonomy to decide who to send pathology out to or to whom they may refer for Mohs surgery. However, he added, “It’s an especially effective move for pre-retirees. The investors usually have a contractual agreement where they retain the physicians for a number of years—so the physician has the money from the sale of the practice, as well as a salary coming in.” Ultimately, said Dr Davey, “If you don’t have anyone interested in taking your practice over for you, it’s not a bad retirement strategy.”
. Krause P. Private equity firms are suddenly buying dermatology practices—here’s why. Business Insider website. August. 22, 2016. Accessed September 26, 2016.
. Administration on aging. A profile of older Americans: 2011. Administration for Community Living website. Accessed September 26, 2016.
. Face of dermatology industry changing; companies in global skin disease market extending Products. BCC Research website. January 5, 2016. Accessed September 26, 2016.
. Skin in the Game, Growing Private Capital Investment in Dermatology Practices. Chicago IL: Brown Gibbons, Lang & Company; 2014. Accessed September 29, 2016.
. The Second Annual Practice Profitability Index. 2014 ed. CareCloud. Accessed September 29, 2016.
. Harvest Partners and Audac announce recapitalization of advanced dermatology [news release]. Harvest Partners LP; May 18, 2016. Accessed September 29, 2016.
November 7th, 2016 - Blog, News, News & Media - ADCS
Dr. Matt Leavitt, CEO of Advanced Dermatology & Cosmetic Surgery, is the rare combination of doctor and entrepreneur — twice over. Leavitt’s first major business venture was Medical Hair Restoration, which he grew into the second-largest hair restoration practice in the country.
After he merged his practice with major hair restoration group Bosley, Leavitt focused on expanding his dermatology practice and experienced rapid success. The company has 24 Central Florida locations spanning the Interstate 4 corridor, with plans to open two more by mid-2017. The company also is expanding its headquarters, adding 7,500 square feet and about a hundred new employees in Maitland.
Over the years, the company has recruited doctors and their families from all over the country to Central Florida. Leavitt cites the company’s sophisticated health care platform and dedication to opening a new practice wherever he sees a need as two of the reasons behind Advanced Dermatology’s success.
Here, Leavitt talks about the company’s history and how he juggles the delicate balance of business and medicine:
What got you interested in the dermatology business?
I came to Central Florida in 1989 out of my residency. I had always been an entrepreneur but wanted to be in medicine. My last year or so in residency, I had trained a lot on hair loss and hair surgery. At the same time I was starting this national hair practice, I had an idea to do a basic hubspoke model for dermatology.
Why did you decide to switch your focus from hair loss to dermatology?
I had always practiced dermatology, but I saw a need on the hair loss side. I actually lost my hair in college and was looking for a solution myself. I had the biggest fellowship in the country in hair surgery, but I was always building the dermatology side.
Do you think your company will keep growing?
We will continue to expand. We put offices where people need them and work hard to create access. My whole philosophy early on is still one I have today: Go where patients and referring doctors need you. Where dermatology doesn’t usually get patients in very quickly, we usually get patients in within four days.
When did your company begin to rapidly expand?
The company initially was a combination of medical hair restoration and advanced dermatology that started in 1989. We didn’t experience our record growth until around 2009-2010. That growth doubled the size of the company, and then doubled it again.
How do you manage both business and medicine?
Practicing medicine is a challenge, and it has become more challenging as different rules and regulations come into play. Most doctors are very poor business people — it’s hard to get that unique blend. They really have to concentrate on trusting somebody else to assist their practices with everything from health care laws to financial and the workflow of the day-to- day. We’re incredibly process-oriented. It’s all about trust. Our doctors have to be able to trust that we’re doing the right thing for them on the medicine part, but also from the business standpoint.
What keeps you up at night?
I would say I’m somebody who, from a planning standpoint, is always thinking about being one step ahead of the game. My saying is “happy but never satisfied.” Most people don’t like change, but I embrace it and am constantly evaluating what we do.
Do you have any advice for others in the industry?
I think we have a huge advantage because we have patient trust. Those roots have a huge advantage over a CEO who is business first, medicine second. In health care, it should be that way. If you have added expenses or have to make hard decisions, cut a cost or change a schedule where it’s not really in the patient’s best interest, don’t do it — that would just come back and ruin your reputation which is, in any business, a huge portion of success.
What keeps you coming to work in the morning?
I am passionate about what we are doing and the legacy we are going to create. A lot of doctors are burning out, but we want to be the place where they love going to work and enjoy it.
What do you do when you’re not running your company?
I’m an extreme skier, one of those guys who skis the cliffs and out of bounds. I do really crazy things I shouldn’t be doing. I’m pretty extreme on the sports side: rafting, hiking, climbing. It doesn’t matter what I’m doing as long as it’s outside.
What’s the best business advice you ever received?
September 19th, 2016 - Blog, News, News & Media - ADCS
I received it from my dad at an early age: There’s always going to be somebody smarter than you in the room and always somebody with a different skill set, but if you’re one of the smartest guys in the room and work harder than everybody else, you have a good chance of being successful.
While dermatologists have been witnessing a public, widely reported, and frequently discussed consolidation of the pharmaceutical industry over the past few years, a quiet consolidation of dermatology practices has also been underway. Advanced Dermatology and Cosmetic Surgery (ADCS), a group that started in Orlando, FL in 1989, is the nation’s largest dermatology practice today with 149 clinics across the US. This spring, Harvest Partners LP took a majority stake in ADCS in a deal that values the company at more than $600 million. According to the Wall Street Journal (Orr, May 18, 2016), this transaction is the largest of several recent deals for dermatology groups.
Dermatology groups apparently can be lucrative for investors, but what’s the appeal for the dermatologists who join them? Matt Leavitt, DO, founder of ADCS, and Dave Morell, President of ADCS, discuss the growth of the company, future plans, and the experience of dermatologists in ADCS clinics.
Read the full article on Practical Dermatology
September 12th, 2016 - Blog, News, News & Media - ADCS
Advanced Dermatology and Cosmetic Surgery, the nation’s largest dermatology practice, acquires two dermatology clinics in Western Pennsylvania.
ADCS Clinics (“ADCS”) announced it has completed the acquisitions of dermatology practices owned by Robert M. Stiegel, M.D. and Louis H. Martone M.D. in Beaver and Pittsburgh, Pennsylvania respectively.
Dr. Stiegel was born and raised near Chicago, IL. He completed his undergraduate degree in electrical engineering from The University of Michigan and received his medical degree from The University of Illinois.
Dr. Stiegel began his dermatology residency at the Mayo Clinic in Rochester, MN. He then completed his residency at The University of Pittsburgh, PA. He became Board Certified in Dermatology in 1981.
He has been serving people in Beaver County for the past 35 years, and Pittsburgh Magazine rated him one of the top five physicians in dermatology in 2013, 2014 and 2015. Dr. Stiegel has been a Diplomat of the American Academy of Dermatology since 1981.
Dr. Stiegel with Martha Frey and Michelle Williams (both Physician Assistants) at his office in Beaver, Pennsylvania, provide state-of-the-art dermatological treatments for medical issues that affect the skin, hair, and nails.
Dr. Martone is a Board Certified Dermatologist in practice since 1976. He is a graduate of Kenyon College in Gambier, Ohio and Northwestern University Medical School in Chicago. He did his internship at the Northwestern Passavant Hospital. He was then inducted into the United States Air force as a Captain and General Medical Officer to serve two years on active duty during the Vietnam conflict. After discharge, Dr. Martone did his dermatology residency at University Hospitals of Cleveland – Case Western Reserve Medical School.
He is a Fellow of the American Academy of Dermatology, and Pennsylvania Academy of Dermatology. He is past president and current Treasurer of the Pittsburgh Academy of Dermatology. He is Chief of Dermatology at UPMC St. Margaret Hospital. He is also a member of the Allegheny County Medical Society and Pennsylvania Medical Society.
Dr. Martone treats all general skin problems including acne, eczema, psoriasis, skin and nail problems. He is skilled in dermatologic surgery for removal of moles, warts, and skin cancer. He has extensive experience with cosmetic dermatologic procedures.
Dr. Matt Leavitt, Founder and CEO of ADCS, said, “It’s truly an honor to welcome Dr. Stiegel and Dr. Martone to our practice. They have a great following in the area and are dedicated to ensure best possible results for each patient treated are achieved. Dr. Larry Stokar, who was the first successful practice we acquired this past April, was the inspiration to continue to grow in the Pittsburgh area.”
“These acquisitions in Western Pennsylvania continue to expand our presence to provide patients with better access to our doctors for superior quality care. ” said Dave Morell, President & COO of ADCS.
September 6th, 2016 - Blog, News, News & Media - ADCS