Joseph Hutts, Derril Reeves, Thompson Dent and Richard Wright pioneer the first physicians practice management (PPM) company in the nation with the founding of PhyCor.
Like many other Nashville health care companies at the time, PhyCor was created to roll up or create a chain. This time it brings physician practices into a national organization of multi-specialty clinics.
The PPM industry would grow to be a phenomenon in the 1990s, a time when the industry expanded to 39 public and 125 private companies – of which PhyCor was the biggest. In 1997 alone, public PPMs raised $2 billion to fund their acquisition spree.
PhyCor’s innovation was a sign of things to come. It was an early collaboration for a group whose members would go on to play influential roles for many other Nashville health care companies, such as Surgis, BreatheAmerica and Urgent Team