BIO
Our leadership team
John Martin is the Managing Director – Healthcare Consulting of Polaris Business Consultants. With over thirty-five years of experience in healthcare, he has worked in large medical practices, specialty hospitals, and health systems. John graduated with an accounting degree from the Indiana University Kelley School of Business in 1988. His career has included roles as Director of Business Development, Administrator, Chief Financial Officer, and Chief Executive Officer.
John began his consulting career in 2012 after leaving his role as Chief Executive Officer of Orthopaedics Indianapolis in Indianapolis, IN. Throughout his career in healthcare, he has participated in more than 20 development projects including hospitals, specialty hospitals, ambulatory surgery centers, and medical office buildings. The cornerstone of every project has been to achieve alignment between hospitals and physicians in the delivery of healthcare services. He has participated in service line development covering every major specialty in healthcare delivery improving financial performance, care delivery, and creating specialty specific physician alignment strategies.
John is a senior executive with over thirty-five years of progressive financial management, strategic planning, and operational experience in the healthcare industry. In addition to all facets of financial and operational management, he has most recently been involved with financial feasibility studies, joint venture planning and execution, physician hospital development, physician/hospital integration, process improvement, hospital and physician practice management, and enterprise level strategic and operational planning.
Specific areas of expertise include:
Strategic Planning
Financial Management
Financial Improvement
Financial Projections
Operational Budgeting
Capital Budgeting
Financial Statement Review and Analysis
Operational and Process Improvement
Project Development
Facility Design
Project Management
Financial Due Diligence
Transactions
Structure
Physician / Hospital Partnerships
Analysis
Financial Due Diligence
Resume Details
Managing Director – Healthcare Consulting
In September, 2023, JD Martin Healthcare Advisors was combined into Polaris Business Consultants. The focus of this consulting practice remains the same:
Strategic Planning
Operational and Process Improvement
Project Development
Capital Transactions
Financial Management
Financial Projections
Operational and Capital Budgeting
Through my consulting practice I served as the Chief Executive Officer and the Chief Financial Officer of Caribbean Healthcare Partners. I have also served as the part-time Chief Financial Officer of other companies. My company focuses on all aspects of financial management and project development for large capital projects.
Managing Partner
In April, 2018, I became the Managing Partner of JD Martin Enterprises d/b/a JD Martin Healthcare Advisors. The focus of my consulting practice is:
Strategic Planning
Operational and Process Improvement
Project Development
Capital Transactions
Financial Management
Financial Projections
Operational and Capital Budgeting
Through my consulting practice I served as the Chief Executive Officer and the Chief Financial Officer of Caribbean Healthcare Partners. I have also served as the part-time Chief Financial Officer of other companies. My company focuses on all aspects of financial management and project development for large capital projects.
Chief Executive Officer / Chief Financial Officer
Caribbean Healthcare Partners is a company that was formed to develop an orthopedic and spine surgical facility in the Federation of St. Christopher (St. Kitts) & Nevis. My responsibilities included:
All aspects of financial projections including assumptions and financial results
Staff planning
Service planning
Facility sizing and design management
Strategic planning including development of a non-surgical clinic
Design of investment structure
Cash flow management
Negotiations with equity investors
Managing Director, Healthcare Consulting
In January, 2015, I became the Managing Director, Healthcare Consulting for KSM. In this role, I am responsible for growth of the hospital consulting practice within the firm. While our firm provides comprehensive consulting services to our physician and hospital clients, initially we are focused on the following service areas from a marketing and growth perspective:
Strategic Planning
Market Assessment
Financial Planning
Operational Improvement
Physician/Hospital Integration
Healthcare Reform Preparedness
Early projects have included development of specialty specific institutes, market analyses, strategic planning, new service development, hospital acquisition due diligence, physician manpower needs assessments, practice combinations, physician/hospital integration strategies and execution
Principal
After the success I enjoyed as Chief Executive Officer of OrthoIndy Enterprises, I left to start a healthcare consulting firm.
This firm focuses on:
Strategic Planning
Financial Planning
Operational Planning
Physician/Hospital Integration
Early projects have included developing orthopaedic centers of excellence, general surgery centers of excellence, integration with primary care, and due diligence on orthopaedic focused hospital expansions.
Chief Executive Officer
(OrthoIndy/OrthoIndy Enterprises)
Oct, 2006 – June, 2012
After success opening Indiana Orthopaedic Hospital, I earned the opportunity to become the CEO of OrthoIndy in October of 2006. Our focus had been on planning and opening the hospital for several years, so the practice was in need of attention. Since taking over in 2006, my focus has been on improving operations, adjusting to the new healthcare climate, rightsizing existing locations, developing key new locations, identifying new markets, and enterprise level strategic planning.
Under my direction, we have reduced staff 17%, increased physician staff by 24%, and improved service to our patients and physicians. We have also opened two new full service outpatient locations under my direction: one in Brownsburg and one in Greenwood. We have entered new markets in Jennings, Dunn, and Hancock County. Two years ago we identified the need to create a management company and take advantage of our experience in running hospital orthopedic departments and physician practices. I led the project to create OrthoIndy Enterprises. OrthoIndy Enterprises is a management company that employs all of our non-clinical employees. We are positioned to provide management services to hospitals and physician practices throughout a five state area.
I have also been responsible for fostering our relationship with St. Vincent Hospital Indianapolis, St. Vincent Carmel, Community Health Network, and Hancock Regional Hospital among others. Under my direction, we have significantly improved our physician/hospital relationships. We are beginning to partner more closely with certain hospitals in our market and in surrounding communities.
Indiana Orthopaedic Hospital, Chief Executive Officer
Aug, 2004 – Oct, 2006
I began my career with OrthoIndy as the Chief Executive Officer for their new hospital, the Indiana Orthopaedic Hospital. Formed as a 100% physician owned and operated hospital, my responsibility was to take the facility from mid-construction to Medicare certified and open for operations. We opened on time and within budget on March 1, 2005. It was my responsibility to ensure that we complied with all state and federal guidelines to open. I was also responsible for ensuring that we opened with a fully electronic health record. We opened with Meditech fully operational and utilizing all of its components for a completely electronic health record. We passed both our pre-occupancy survey and our full survey 3 weeks later with no major citations. Our Medicare certification was retroactive to our date of opening.
I was also responsible for negotiating payer contracts and ensuring profitability. I was able to secure managed care contracts with all major payers in our market within our first year of operation. Additionally, we were able to pay off all of our revolving debt and produced a profit in our first 12 months of operation.
Director of Financial Planning and Business Development
In this position, I have been responsible for all of the major capital projects of St. Francis Hospital. I have done the financial feasibility work on all of our projects with a capital value greater than $150,000. The three largest active projects with which I have been involved include the new $60,000,000 cardiac facility, the $20,000,000 expansion project in Mooresville, and the new (as of July, 2002) developer owned medical office building on our Indianapolis Campus. I report directly to the regional chief financial officer, and spend the majority of my time supporting our senior management team.
Business Development
My business development responsibilities include bringing new lines of business to the hospital, evaluating current lines of business for expansion/improvement opportunities, and evaluating joint venture opportunities with our physician partners. In addition to the three projects mentioned above, I have performed all of the financial feasibility work on at least 6 joint ventures and numerous other new hospital programs. Typical business development analysis will include one or more of the following elements:
Evaluate the market for and financial feasibility of entering into a new business opportunity. This includes determining market need for the service being considered, capital required to launch the new business venture and the long-term probability of financial success.
Evaluate financing alternatives available to the new venture. I determine the proper mix of equity, debt, and working capital line of credit for the long-term success of the new venture.
Evaluate the best location and facilities required for the new venture. This includes determining whether or not the venture should be located in hospital, joint venture, or developer owned facilities.
Finally, I have negotiated several transactions that include having a developer/owner build and own a building on hospital owned ground. I have assisted in negotiating the underlying ground lease and related financial terms.
Financial/Capital Planning
My financial planning responsibilities include determining how to improve the financial and operational performance of existing lines of business. This includes evaluating opportunities for growth, cost reductions, and operational improvement. I work with product line managers and directors to set improvement plans and then deliver those plans to senior management.
My capital planning responsibilities include determining the growth opportunities available for projects with an initial investment in excess of $500,000. Analysis includes market opportunity, financial statement proforma development, discounted cash flow analysis, and calculation of internal rate of return. These projects are often evaluated with a team of six or eight managers/directors. My responsibilities include leading the evaluation team, building a business and financial plan, and then writing and presenting the recommendation(s) to senior management.
Decision Support
I am also responsible for the development and maintenance of a hospital (and system) wide decision support system. This system is designed to enhance decision making at the operational and capital/business planning levels.
Consultant – Healthcare
As a consultant with BKD Healthcare Services, I was responsible for working primarily with physician practices, radiology practices, management services organizations, small hospitals and multi-specialty clinics on operational performance issues. The scope of these engagements included:
Making recommendations regarding entity specific turnaround opportunities
Analysis of lost revenue opportunities and plans for future recapture
Development of finance policies and procedures
Operational and financial improvement planning and recommendation
Information systems evaluation and recommendation
I was also charged with writing business plans to address opportunities in the radiology niche market and for healthcare information technology services. These business plans detailed specific opportunities for practice expansion.
Administrator
I was responsible for the day-to-day operations of the practice. I kept physician leadership informed of current industry trends affecting the group practice environment. Also kept physician leadership up-to-date on financial and operational status of the corporation. I managed a staff of 15 FTE’s who were responsible for carrying out daily activities as directed. I had four key areas of responsibility including: information systems selection, design and implementation; financial reporting, compliance monitoring and opportunity analysis; human resources benefit management and design, physician recruiting support, and pension administration; and administrative responsibility for daily operations, general insurance coverage, and hospital relationship management.
Chief Financial Officer
Responsible for the overall financial well-being and security of the hospital. Reported to and advised the President on all financial issues. Also responsible for long range, strategic financial planning and forecasting for the facility as well as installation and integration of a Unix based hospital-wide network.
Accounting Manager
Responsible for the daily activities of our accounting and patient accounts departments. Reported to the Chief Financial Officer.
Key Career Accomplishments
Specialization
Strategic Planning
Financial Management
Financial Improvement
Financial Projections
Operational Budgeting
Capital Budgeting
Financial Statement Review and Analysis
Operational and Process Improvement
Project Development
Facility Design
Project Management
Financial Due Diligence
Transactions
Structure
Physician / Hospital Partnerships
Analysis
Financial Due Diligence
Service Line Strategies
Assessed and implemented strategies in every major service line within a full-service hospital setting including:
Orthopedics
General Surgery
Minimally Invasive Surgery
Oncology
Cardiology
Bariatrics
Women’s Health
Pediatrics
Behavior Health / Autism
International Development
Roatan, Honduras
Worked with local hospital owner, physicians and developer to create plans for an ambulatory surgery center to be developed in an “economic free trade zone” on the island of Roatan
Initial capital and operating budgets were developed
Investment framework developed for future investors in the project
Designed to provide advanced surgery services to locals and as a travel medicine program
St. Kitts and Nevis
Oceans Medical Clinic
Working with physician to bring advanced treatments to the island of St. Kitts
Facility provides physical therapy, pain management including injections, 5 patient exam rooms, diagnostic cardiology, laboratory services, x-ray / C-Arm, ultrasound, and DXA scanning
Surgical Facility
Worked with Caribbean Healthcare Partners to develop a spine and orthopedic surgical facility in St. Kitts and Nevis
Selected architecture firm and designed facility
The surgical facility was designed to be a travel-medicine destination
Developed financial due diligence package, investor presentation, investment documents, and secure investment for the facility
Worked with founder of Caribbean Healthcare Partners to raise capital for the operating company
Project was put on hold due to COVID
Selected real estate developer to raise capital for the construction and to manage development of the real estate and building
Clinic
Designed to bring advanced services to the island for both island nationals and as a component of the medical travel program
Developed a medical clinic in Frigate Bay, St. Kitts
Facility provided physical therapy, pain management including injections, 5 patient exam rooms, laboratory services, x-ray/C-Arm, ultrasound, and DXA scanning
Project was put on hold due to COVID
Transactions
Orthopaedics Indianapolis (“OrthoIndy”) / Indiana Orthopaedic Hospital
Began career in August, 2004 as CEO of the Indiana Orthopaedic Hospital
Hospital was successfully opened on March 1, 2005
Hospital nationally recognized by PressGaney and HealthGrades
Achieved profitability and made owner distributions by the end of the first twelve months of operations
In 2006, transitioned to CEO of OrthoIndy and the Indiana Orthopaedic Hospital
Streamlined organization through consolidation of entities
Reduced overhead by consolidating certain locations and building strategically placed centers in Brownsburg and Greenwood
Reduced overhead 17% while increasing the number of physicians by 24%
Developed strategy to organize new centers as combination hospital outpatient surgical departments and physician office clinics
Added freestanding physical therapy locations under the hospital license
Developed strategy during 2007 and 2008 to create a strategic partnership with Ascension / St. Vincent Indianapolis
Purpose of the partnership to improve orthopedic standard of care throughout the state of Indiana
Four key elements to the transaction:
Ownership: Ascension/St. Vincent to own 20% of the Indiana Orthopaedic Hospital
Management: OrthoIndy to manage the Ascension / St. Vincent orthopedic program in central Indiana under a joint venture management agreement
Partnership: OrthoIndy to be the statewide orthopedic provider for Ascension / St. Vincent Indiana
Program Development: Ascension / St. Vincent to develop a Level II trauma program to be staffed by OrthoIndy trauma surgeons at the Ascension / St. Vincent Indianapolis campus on west 86th Street
October, 2009, transaction between OrthoIndy and Ascension / St. Vincent was completed
During 2012, the Level II trauma program was created at Ascension / St. Vincent and OrthoIndy moved its program to the 86th Street campus
In June, 2012, left OrthoIndy to open a healthcare consulting company
During tenure as CEO of OrthoIndy and the Indiana Orthopaedic Hospital, enterprise grew from $96M in annual revenue to $205M in annual revenue and 900 employees
Morgan County
In 2014, through my consulting company and in partnership with Katz, Sapper & Miller (a regional consulting and accounting firm) I performed the financial due diligence on a complex transaction to acquire a local hospital out of bankruptcy
Transaction structure included a total package of $40M in real estate and other debt facilities
Facility Development
Cardiac Hospital Due Diligence
$75.0M Cardiac Hospital project
Included local health system, large cardiology group, and a large cardiovascular surgery group
Designated, single-purpose facility attached to local hospital emergency room
Managed financial and operational due diligence
Cardiac Hospital Due Diligence
Debt funded transaction to purchase a local hospital out of bankruptcy
Included a local physician group and a healthcare REIT
Performed financial and operational due diligence
Indiana Orthopaedic Hospital Main Campus
100% physician owned
135,000 square feet
42 inpatient beds
10 operating rooms
2 minor procedure rooms
35 pre- and post-operative rooms
10 PACU beds
2 ICU capable rooms
Physical therapy
Laboratory
Included renovation and addition of medical office space
Performed financial and operational due diligence
Pharmacy
OrthoIndy / Indiana Orthopaedic Hospital Brownsburg
39,000 square feet
2 operating rooms
2 minor procedure rooms
Physical therapy
Medical practice clinic exam space
Performed financial and operational due diligence
OrthoIndy / Indiana Orthopaedic Hospital Greenwood
78,000 square feet
4 operating rooms
2 minor procedure rooms
Physical therapy
Imaging including MRI
Medical practice clinic exam space
Performed financial and operational due diligence
Orthopedic Specialty Hospital Joint Venture
Large regional hospital system
Large orthopedic group
Close existing small hospital-owned facility
Develop larger orthopedic specialty hospital
Include inpatient, outpatient, imaging
Performed financial and operational due diligence
Hospital Facility Expansion Phase I
Managed first expansion of $25M, doubled size of facility, expanded service offering
Performed financial and operational due diligence
Hospital Facility Expansion Phase II
Started financial due diligence on second expansion of the facility
Performed financial and operational due diligence
Neurosurgery / Orthopedic Surgery Program
Led program out of CT where a major healthcare system broke ground on $150M orthopedic and spine center.
Hospital project lead only consulted with a handful of ortho MDs and no spine MDs, which created conflict and challenges.
Developed a plan that charted a way for all parties to work together for an optimal outcome.
Hospital Replacement
Worked with a large healthcare system to develop a plan of alternate uses for a facility that was being decommissioned
Performed financial and operational due diligence
Neighborhood Hospital
Worked with a large healthcare system to develop a small neighborhood hospital in an underserved market
Performed financial and operational due diligence
Surgery Center Development
Franciscan Surgery Center
Worked with large healthcare system to develop a joint venture multi-specialty surgery center
Surgery center was on the ground floor of a medical office building for which I conducted the financial and feasibility due diligence
Southeast Surgery Center
Worked with large healthcare system to create a joint venture orthopedic surgery center
Joint venture partner was a large orthopedic practice
Surgery center was on the ground floor of the same medical office building
Became one of the top orthopedic surgery centers in the country at that time
Performed financial and operational due diligence
South Emerson Surgery Center
Worked with large healthcare system to create a joint venture orthopedic surgery center
Joint venture partner was a small orthopedic practice
Performed financial and operational due diligence
Mooresville Multi-Specialty Surgery Center
Worked with large healthcare system to develop a joint venture multi-specialty surgery center
Surgery center was part of an overall campus expansion plan
Performed financial and operational due diligence
Orthopedic Surgery Center (Montana)
Worked with a large healthcare system and the largest orthopedic surgery group in the region to develop a joint venture surgery center
Surgery center was part of a retail big box store redevelopment plan
Performed financial due diligence, assisted in design of facility, and right-sizing of capital plan for the project
Renovation / Expansion
Laboratory / Imaging Expansion
Oversaw renovation of laboratory, imaging center, women’s center and pediatric inpatient unit
Southeast Surgery Center
Negotiated a mobile PET CT
Added treatment rooms
Medical Office Building
Developed medical office building on health system campus
135,000 sq. ft
2 surgery centers
3 office floors
One floor built to hospital occupancy standards
Orthopedic Institute Development
Large Michigan based orthopedic group
Worked with a 35-MD orthopedic group in MI
Developed plan to approach the local major hospital about creating a comprehensive orthopedic institute.
Large Michigan based orthopedic group
Led a complex planning project that resulted in
Conceptual plans for a new, stand-alone facility
Included physician office space
Inpatient and outpatient surgery
30 inpatient beds
Memphis Project
Worked with a 25-MD orthopedic group in TN
Developed plan to approach the local major hospital about creating a comprehensive orthopedic institute.
John D Martin
9292 N Meridian Street Suite 150 Indianapolis, IN 46260
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