BY BARBARA PINCKNEY<\/p>\n
A pair of physicians that have medical offices
\nin Glens Falls are part of a team gearing
\nup to build the Northway Surgery and Pain
\nCenter in Clifton Park.<\/p>\n
According to documents filed with the
\nstate Department of Health, which has given
\npreliminary approval for the project, the ambulatory
\nsurgery center, which would focus on
\npain management, would be built on vacant
\nland at 1596 Route 9, south of Northway Exit 9.<\/p>\n
Costs to construct and equip the 9,400
\nsquare-foot building are estimated at about $1
\nmillion, according to the documents.
\nThe center’s primary service area would cover
\nSaratoga, Albany, Schenectady, Rensselaer,
\nWarren and Washington counties, with the
\nmajority of patients coming on referral from
\nprimary care physicians. Using National Center
\nfor Health Statistics estimates of chronic
\npain prevalence in the adult population, the
\npartners estimated that about 182,000 people
\nin this six-county region would benefit from
\ntheir services.<\/p>\n
Northway Surgery will be 95 percent owned
\nby an entity called NSPC Holdings LLC, a joint
\nventure between the partners in the Albany &
\nSaratoga Centers for Pain Management–Dr.
\nEdward Apicella and Dr. Martin Ferrillo–and
\nthe partners in New York Pain Management
\nPLLC–Dr. Charles Gordon and Dr. Quenton
\nPhung.<\/p>\n
According to the filing, Apicella and Ferrillo
\neach own 35 percent of NSPC Holdings
\nand Gordon and Phung each own 15 percent.
\nApicella will be medical director of Northway
\nSurgery.<\/p>\n
The remaining 5 percent is owned by Heritage
\nAmbulatory Surgery Center LLC., a new
\ncompany formed to provide consulting and
\nadministrative services to Northway Surgery.
\nThe partners in Heritage are Dr. Robert Tiso,
\nJoseph Cantino, Dr. Eric Tallarico and Dr. Nameer Haider.<\/p>\n
Although a Certificate of Need filing put
\nthe projected start-up date on Dec. 31, it is
\nnot clear when Northway Surgery will open.
\nInquiries about the project were referred
\nto Tom Pascarella, practice administrator for
\nthe Albany & Saratoga Centers for Pain Management.<\/p>\n
He said an opening is still several
\nmonths away, and he could not expand at thus
\ntime upon plans filed with the state.<\/p>\n
Apicella and Ferrillo currently practice
\ninterventional pain management, using minimally
\ninvasive techniques, in Saratoga Springs
\nand Albany. Gordon and Phung have practice
\nlocations in Clifton Park and Glens Falls. In
\n2012, the most recent year cited in the application,
\nthe four physicians did a combined total
\nof 9,700 office-based procedures.<\/p>\n
They told the state they expect to do about
\n8,200 procedures at Northway Surgery in its
\nfirst year of operation–because some surgeries
\nwill remain office-based–and as many as
\n10,000 in year three. The partners estimated
\nan average cost per visit of $378 in year one.<\/p>\n
The ambulatory surgery center would have
\nfour procedure rooms, and employ about 22
\npeople. Emergency support would be provided
\nby either Saratoga Hospital or Ellis Medicine
\nin Schenectady, both of which are about 20
\nminutes away.<\/p>\n
According to the application, the partners
\nexpect revenue of $6.3 million in their first
\nyear of operation, with expenses of about
\n$3.1 million. This would put net income at
\nabout $3.2 million. By year three, revenue is
\nprojected at $7.6 million, and net income at
\n$4 million.<\/p>\n
Working capital requirements, estimated
\nat just under $600,000, will be covered by the
\npartner’s personal assets and a bank loan. A
\nbank loan also is expected to finance most of
\nthe $1 million project cost, according to the
\ndocuments.<\/p>\n","protected":false},"excerpt":{"rendered":"
BY BARBARA PINCKNEY A pair of physicians that have medical offices in Glens Falls are part of a team gearing up to build the Northway Surgery and Pain Center in Clifton Park. According to documents filed with the state…<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[71,114],"class_list":["post-16174","post","type-post","status-publish","format-standard","hentry","category-new-businesses","tag-clifton-park","tag-new-businesses"],"yoast_head":"\r\n