Becker's Spine Review

37 HEALTHCARE NEWS Physician group with 873 employees files for bankruptcy By Ayla Ellison T roy, Mich.-based University Physician Group, which does business as Wayne State University Physician Group, filed for Chapter 11 bankruptcy Nov. 7, 2018. "UPG has determined that its clinical opera- tions are no longer sustainable in the absence of long-term external subsidy," University Physician Group CEO Charles J. Shanley, MD, said in bankruptcy documents. Dr. Shanley said several factors contributed to the group's weakened financial state, includ- ing declines in operational and revenue cycle performance. "Perhaps most importantly, during a decade of steadily declining clinical revenue, UPG maintained an expansive and underutilized long-term leasehold portfolio distributed throughout metropolitan Detroit to support the missions of several of the smaller clinical departments in the context of a deteriorat- ing relationship with one of UPG's affiliated hospitals," he said. "Occupancy and overhead expenses required to maintain these under- performing assets became a pernicious tax on the organization that is no longer sustainable at current volumes." UPG intends to continue operating its busi- ness throughout the Chapter 11 process as a debtor-in-possession. e group will continue to support clinical operations on the Detroit Medical Center central campus, but plans to ultimately suspend operations at all suburban sites, according to bankruptcy documents. "Today's restructuring news is truly about UPG realigning itself to its organization- al mission," Dr. Shanley said in a statment to Becker's Hospital Review. "UPG is driven to provide the highest quality care to the pa- tients and communities we serve as we train the next generation of providers. is is only enhanced by taking today's actions. Patients will continue to see their doctors and our staff will continue to teach and serve the commu- nity here in Detroit. As the DMC's partner, we too seek to be the best version of UPG, a truly strong participant within the growing partnership." In its bankruptcy petition, the physician group, which has 873 employees, listed its as- sets as between $10 million and $50 million and listed its liabilities in the same range. n A New Dimension in SI Joint Fusion TM iFuse-3D ™ • Surface Mimics Native Cancellous Bone • Demonstrates Substantial Bone Ongrowth, Ingrowth, Through Growth 1 • Self-Harvesting Technology 1. MacBarb RF, et al. Int J Spine Surg, 2017; 11:116-28 One or more individuals may be a past or present SI-BONE employee, paid consultant, investor, clinical trial investigator, or grant recipient. Research described herein may have been supported in whole or in part by SI-BONE. SI-BONE and iFuse Implant System are registered trademarks of SI-BONE, Inc. and iFuse 3D is a trademark of SI-BONE, Inc. ©2018 SI-BONE, Inc. All rights reserved. Patents www.si-bone.com. 10031.112117 The iFuse Implant System ® is intended for sacroiliac fusion for conditions including sacroiliac joint dysfunction that is a direct result of sacroiliac joint disruption and degenerative sacroiliitis. This includes conditions whose symptoms began during pregnancy or in the peripartum period and have persisted postpartum for more than 6 months. There are potential risks associated with the iFuse Implant System. It may not be appropriate for all patients and all patients may not benefit. For information about the risks, visit www.si-bone.com/risks

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