Published on : Oct 01, 2015
Shields Health Care Group has for decades paid attention to only one feature of health care, and that has outpatient clinics that offer patients low cost medical services compared to hospitals.
As the health care industry struggles to control costs, the demand for outpatient services has grown rapidly and the Quincy based family owned company has decided to set off on a major expansion journey. Currently, Shields is in the works of opening at least six outpatient clinics during the course of the next two years. This will add to the fleet of 43 clinics it already operates.
Shields is best known for its magnetic resonance imaging (MRI) services and plans to set up two new imaging centers in Massachusetts and another four in two of the newer markets identified by the company – Maine and New Hampshire. The locations for these centers have not yet been revealed as the deals are still to be finalized.
Thomas Shields, chief executive officer at Shields Health Care Group said that the firm is positioned well enough to develop owing to the pressure of increasing costs on both patients as well as on health care providers. Consumers are now picking up larger share of the medical expenses via copayments and higher deductibles, more and more of them are looking for more affordable alternatives.
On an average, Shields Health Care is paid roughly US$ 600 for every MRI it performs, which is around half of Boston’s teaching hospitals’ reimbursement, according to the company.
Shields said that the company believes that patients are seeking increased value in the future and they can dominate the market in terms of value. That is where Shields believes the market is headed.
The health care firm was founded in 1972 by Thomas’ parents and started with nursing homes and later moving on to kidney dialysis centers.