American Dental Partners, Inc. is a leading provider of business services to multi-disciplinary dental groups in selected markets throughout the United States. The Company seeks to affiliate with leading dental groups that provide a comprehensive range of dental care services, have outstanding reputations for quality and have proven records of financial performance. From November 1996 (the date of the Company's first affiliation) through December 31, 1999, the Company completed 31 affiliation transactions, comprising 18 dental groups, and as of December 31, 1999, the Company operated 134 dental facilities with 1,193 operatories in 12 states. The Company's growth has resulted primarily from these affiliations, which consisted of three affiliations completed in 1996, six affiliations completed in 1997, ten affiliations completed in 1998 and 12 affiliations completed in 1999. The aggregate payor mix percentage of the Company's affiliated groups during 1999 was approximately 44% fee-for-service, 14% PPO plans and 42% capitated managed care plans.
The Company's affiliation model is designed to create a partnership in management between the Company and the affiliated dental group that allows each party to maximize its strengths and retain its autonomy. When affiliating with a dental group, the Company acquires substantially all of its non-clinical assets and enters into a long-term service agreement to manage the non-clinical aspects of the dental operations.
The Company supports the Company's affiliated dental groups with a broad range of services designed to enhance practice revenue, improve operating efficiencies and expand operating margins. The Company shares the best practices of the Company's network with each affiliate and provides assistance with information systems, planning and budgeting, facilities development and management, capacity and utilization management, scheduling, staffing, professional recruiting, benefits administration, economic analysis, financial reporting, purchasing, quality assurance, organization structure and development, analyzing and negotiating agreements with dental benefit providers and marketing.
The Company operates under a decentralized organizational structure. At the facility level, where permitted by applicable state law, the Company generally employs the dental hygienists, dental assistants and administrative staff. At each facility, a practice manager typically oversees the day-to-day business operations. The practice manager and administrative staff are responsible for, among other things, facility staffing, patient scheduling, on-site patient invoicing and ordering office and dental supplies.
In each market, the Company has a local management team that supervises theoperations of one or more affiliates. This team provides support in areas such as recruiting, hiring and training facility staff, developing and implementing quality assurance programs, developing and implementing operating policies and procedures, administering employee benefits, billing and collecting accounts receivable, processing payroll, information systems, accounting, marketing and facilities development and management. Each local management team reports to an operating vice presidents. An operating vice president is responsible for monitoring the operating performance of multiple affiliated dental groups in multiple markets. Each operating vice president participates as a member of the joint policy board of each of the affiliated dental groups for which he or she has management oversight responsibilities.
Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund. A former banker, top analyst at exchange.com before they ran out of money, and Chairman o
