NorthStar Anesthesia

Northstar Anesthesia
Northstar Anesthesia
Northstar Anesthesia

Area of Focus Healthcare

Partnership Date 2018

Headquarters Irving, Texas

Cranemere shares our values of accountability, respect and excellence, and we are pleased to partner with their team to continue generating sustainable growth at NorthStar.

Adam Spiegel

Adam Spiegel

CEO

Company Profile

A leading U.S. anesthesia practice management company

NorthStar Anesthesia (“NorthStar”) is a leading national anesthesia practice management company that provides anesthesia staffing best practices, operating room efficiencies and improved clinical outcomes through managed anesthesia services.

The business is led by Adam Spiegel, an experienced healthcare executive. Adam has led a significant expansion during his tenure, as NorthStar has expanded its capabilities while continuing to drive clinical excellence. These initiatives have helped NorthStar emerge as a more effective organization resulting in the addition of sizable new contracts, new partnerships and expansion of existing relationships with health system partners.

NorthStar is committed to bringing its high-quality care model to hospitals and ambulatory surgery centers across the country. NorthStar’s services improve care for patients and relieve staffing and administrative burdens from clients, while providing an attractive environment for anesthesiologists and CRNAs.

The company was founded in 2004 by an anesthesiologist and a certified registered nurse anesthetist (“CRNA”) and is based in Irving, Texas. NorthStar employs over 2,400 providers at over 180 facilities in 22 states.

Partnership Highlights

  • Cranemere acquired NorthStar Anesthesia in 2018 and has been working with the management team to deepen NorthStar’s presence in current markets and invest in acquisitions to drive density in those markets.
  • NorthStar has invested in achieving best-in-class clinical quality; it established the Office of the Chief Quality Officer in 2019 and since then has seen excellent results through MIPS/MACRA, the Merit-Based Incentive Payment System for the Centers for Medicaid and Medicare Services. In 2019, 92% of NorthStar’s clinical sites received an “Exceptional Performance Payment Adjustment” for high quality scores. In 2020, this rose to 96% even amid numerous challenges caused by COVID-19 and an increasingly difficult threshold set by CMS to receive the adjustments.
  • As part of its overall growth strategy, NorthStar has completed three tuck-in acquisitions with Cranemere support since 2018. These acquisitions represent expansions into key geographic markets in the Southeast and Midwest, as well as deepening NorthStar’s footprint in the outpatient setting. These deals, combined with continued organic growth, has allowed NorthStar to nearly double the size of its business.