Neurosurgeon Jawad Shah felt acquiring the former Michigan Surgical Hospital in Warren could be a wise investment because it would enhance the services offered at the Insight Institute for Neurosurgery & Neuroscience in Flint while offering lower prices to patients than larger, full-service hospitals, as posted in Crain’s Detroit Business.
Shah said owning a hospital gives him a place to treat patients while maintaining better control of quality and outcomes.
“We have very strong relationships with the big hospitals that I very much enjoy and partner with. That will continue,” Shah said to Crain’s. “The surgical hospital is a new opportunity for us. We can have the most sophisticated surgery equipment in the world for our patients. That’s what we want to do.”
Insight was able to retain the physicians who were there and also brought in its own. Since it has owned the surgical hospital, Insight has increased patient satisfaction scores across the board compared with its previous owner.
Before Insight acquired Michigan Surgical in 2018, the hospital reported an operating loss of $2.86 million on net patient revenue of $16.2 million, according to Medicare cost reports provided by American Hospital Directory.
While financial numbers for 2019 have not been finalized, Insight projects to exceed 2018 revenue numbers and post a profit for 2019, partially due to a change in the type of equipment that is used.
About $5 million was spent on upgrades and new equipment over the past year, according to Atif Bawahab, Insight Surgical Hospital’s CEO.
Insight plans to build out a multi-specialty clinic adjacent to the hospital with about 15-20 examination rooms, pharmacy, laboratory, and physical and occupational therapy services. The $5 million-$10 million project is expected to be completed this summer, Bawahab said.