Naples Health Care Associates Goes BK

By
Real Estate Broker/Owner with Land & Sea International Realty

Naples Health Care Associates have filed bankruptcy reorganization last month, showing liabilities of $1,125,500 and assets of $32,222 in their records. Started in September 2002, It is the first concierge medical practice in Naples, Florida, providing a personalized approach to medicine by allowing doctors to give executive or home visits to patients, even after-hour contact to attend to their needs. Patients who would like to take advantage of it would have to pay an annual membership fee, roughly around $4000 per year. Aside from that, the patients’ insurers are also billed for covered services. Physicians in a concierge practice limit the number of patients they accept so they could have more time to spend with each patient. The medical practice has filed bankruptcy due to several reasons such as renegotiating leases and attracts new capital. It also showed creditors holding unsecured non-priority claims that owed $867,474. A creditor holding secured claims is owed $215,465. Aside from that, there were unpaid wages to employees that cost $42,560 But these are just not the reasons provided by the practice. Insubordination done by longtime physicians was also one of the main problems that made the situation worst. Because of this, the practice has filed a federal court complaint against Dr. Richard Kravis, who has breached the non-compete terms of his employment contract. They believe that Kravis was competing with the company while he was still employed, and according to Dan Cholvin, an IT employee who worked at the concierge practice, Kravis told the patients he was going out on his own. Chovlin also stated that Kravis told people not to renew their contracts. The medical practice in Florida used to have 500 patients but quite a few did not renew their contracts. He also implicated that some of the patients had no confidence towards the former employees. A former patient Genevieve Galliford revealed that she decided not to renew her membership that lasted for three years, thinking that there was no team effort on the practical side. She also mentioned that the medical staff even insisted that she need to come to the office rather than them coming to her residence to visit. Having said that, Chovlin is still hopeful, there will be a change of events with the bankruptcy reorganization and with a new doctor joining them soon.

How's all this effect Naples and Marco Island real estateContact Boyle and learn more.

Comments (0)

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?