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Lakeside merger extends coverage across northern L.A.: Keith Richman, former assemblyman, led deal for physicians group.


FORMER state Assemblyman Keith Richman hasn't been idle since being termed out of office at the end of last year.

The Northridge Republican and physician returned to the San Fernando Valley medical group he helped found a decade ago. He recently helped orchestrate a private stock transaction that has elevated Lakeside Medical Group into the ranks of the top three medical groups in the greater Los Angeles area.

The independent physician association's holding company, Glendale-based Lakeside Systems Inc., earlier this month added to its family Progressive Health Systems, an Agoura Hills-based physicians management company, and its Community Medical Group.

Lakeside's coverage area now stretches across northern Los Angeles County and serves more than 250,000 patients.

When the deal closed on Oct. 3, the system grew by 50 percent to 600 employees, including 100 multi-specialty physicians at 11 clinics, three urgent care clinics and two outpatient surgical centers. There also are 2,000 additional physicians in its affiliated network.

Dr. Marv Kanter, Progressive's chairman, became Lakeside's chairman, which was Richman's role before he went to Sacramento in 2000. Dr. Fred Frederico, who was one of Richman's partners in founding Lakeside, will continue in his role as chief executive. Richman, who unsuccessfully ran for state treasurer last November but continues to be active in political causes, serves as the company's executive vice president.

The merger made financially possible an extensive upgrade of the group's information technology with comprehensive practice management and electronic medical records systems. That includes a recent $3 million contract with AllScripps, a Chicago-based provider, that will give patients better access to test results, prescription information and other data over the Internet.

Large managed care providers such as Kaiser Permanente and HealthCare Partners, the region's largest physician group, have implemented similar systems in recent years, but the cost is often beyond the reach of smaller groups.

"It was important that we move to electronic health records both from a patient care perspective and to reduce administrative costs," Richman said.

Staff reporter Deborah Crowe can be reached at (323) 549-5225, ext. 232, or at dcrowe@labusinessjournal.com.

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Title Annotation:MEDICAL
Author:Crowe, Deborah
Publication:Los Angeles Business Journal
Date:Oct 22, 2007
Words:347
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