A bold vision to transform the hip and knee joint replacement industry.
After over 10 years of hospital employment, surgeons Joseph W Greene, MD and Jonathan Yerasimides, MD of Louisville, Kentucky broke away from the hospital system to set up a private practice that would redefine the outpatient joint replacement industry. Greene and Yerasimides envisioned a unique patient experience that would allow patients to be partners in their own care and bring world class innovation to joint replacement therapies.
Shifting from a hospital employment arrangement to a brand-new independent practice was a daunting challenge. Greene and Yerasimides recognized that, as experts on surgical procedures, they lacked the knowledge of setting up a practice with proper business strategies. They searched for professionals with the skill set to guide them through the development stages of starting a new healthcare business. This included funding, site location, service offerings, operations, team recruitment, insurance negotiation, and patient experience and operational processes.
The doctors were introduced to the team at 4A Ventures, and Yerasimides claims that immediately “it was very clear that their skill set was what we [Louisville Hip and Knee Institute] needed.”
As experts in business strategy, development, and implementation, Alice Shade and her team at 4A Ventures became integral strategic and operational advisors to the innovative efforts of Louisville Hip and Knee Institute.
Establishing a clear vision for the new practice guided the decisions for all the important elements critical to a successful business.
The 4A Ventures team helped develop and implement systems and infrastructure to the business to ensure a successful transition. Focusing not only on the major steps, Shade and her team developed a solid infrastructure through a detail-oriented approach. Weekly meetings were crucial in creating fluid communication to keep the initiative on task and moving forward. The 4A Ventures team leveraged their network of deep connections and vetted service providers to present solutions that helped the partners create the practice they envisioned. This included overseeing the selection of an Electronic Medical Record vendor partner and implementation of IT services and equipment to space design and furnishing selections. The team of experts at 4A Ventures developed a foundation for Louisville Hip and Knee Institute to build upon successfully for years to come.
Despite the challenges that are inherent within the industry and the pressure of the COVID-19 pandemic, Alice and the experts at 4A Ventures worked tirelessly to help the Louisville Hip and Knee Institute partners navigate their unique vision by pulling in the systems and team needed to keep the project moving smoothly, within budget, and on time. In January 2021, Louisville Hip and Knee Institute welcomed its first patient. By June 2021, the practice had exceeded its 6-month goal projections. Yerasimides spoke on their success as a guest on the “Growing a Successful Orthopedic Practice” podcast saying, “there is no way we could have done this without their [Alice Shade and her team at 4A Ventures] help.”