Genesys PHO history

In order to concentrate on developing the new business, McIlroy and Travis sold the medical lab to Damon Corp., a national laboratory firm, in 1980.

According to an October 1984 Corporate Report Minnesota article, HRMI's average client employed 20,000 and spent about $30 million a year on medical payments.

Four former executives of Hospital Corporation of America, Joseph Hutts, Derril Reeves, Thompson Dent, and Richard Wright, founded PhyCor in 1988, pioneering the first physicians practice management (PPM) company.

The clinic lost the contract shortly after PhyCor's acquisition in 1989.

In 1990 the Greeley Medical Clinic in Colorado approached PhyCor to acquire and manage the clinic's business operations.

In 1993 same-clinic revenues experienced an average increase of 8.5 percent.

Healthcare reform on a state level was encouraging medium-sized companies to move to self-funded health plans, according to a February 1995 Minneapolis/St Paul CityBusiness article by Carla Solberg.

Fiscal 1996 ended with lower than expected revenues due to a scaled back agreement with a major client and delays in new customer development.

PhyCor continued its accelerated growth strategy with 13 acquisitions in 1997, including two management service companies.

In April 1998, PhyCor already had adopted a policy of 25-year contracts.

In November 1999 PhyCor announced plans to reduce the number of clinics to about 30 during the next year.