The California Medical Association (CMA) has learned that Golden Shore Medical Group has transferred its assets for liquidation to the Stapleton Group.
Golden Shore closed its doors on January 31, 2019, after Molina Healthcare terminated its contract with the delegated entity. According to Molina’s filings with the Department of Managed Health Care, the termination was the result of the parties’ inability to agree on contractual terms.
Notices regarding the transfer of assets and debts to the Stapleton Group were sent out in March. According to the notice, the Stapleton Group is in the process of liquidating the assets and, once liquidated, will distribute the proceeds to Golden Shore Medical Group creditors.
What this means for physicians
Physicians who have unpaid Golden Shore claims should submit a proof of claim and proper supporting documentation to the Stapleton Group no later than August 5, 2019. Physicians should be aware, however, that submitting a proof of claim does not guarantee their claims will be paid.
For more information on insolvent IPA/medical groups, see CMA health law library document #7501, “Bankruptcy of IPAs or Health Plans,” or #7509, “Insolvency of Health Plan, IPA, or Other Entities that Contract with Health Plans.” CMA health law library documents are free to members. Nonmembers can purchase documents for $2 per page.