In 2014, Dan Croft joined TD Bank to lead the Healthcare Practice Solutions Group (HPSG), aiming to revolutionize financial services for healthcare professionals. Over a decade, HPSG has significantly expanded its reach and offerings, providing tailored financial solutions that have supported practitioners through both prosperous times and challenging periods like the COVID-19 pandemic. The group’s unique approach, combining deep industry expertise with a relationship-first philosophy, has earned it recognition as the leading lender for healthcare professionals by Forbes in 2023 and 2024. This success story highlights how HPSG has evolved from serving solo practitioners to supporting complex multi-location practices, demonstrating its commitment to understanding and meeting the diverse needs of healthcare providers.
Empowering Healthcare Practitioners Through Tailored Financial Solutions
HPSG’s mission extends beyond traditional banking services; it focuses on offering customized financial solutions that align with the unique challenges and opportunities faced by healthcare professionals. Since its inception, the group has increased its healthcare practice finance loan originations by $3 billion, serving over 1,100 locations across Maine to Florida. By prioritizing long-term relationships and comprehensive credit options, HPSG has become a trusted partner for dentists, physicians, veterinarians, and eye-care professionals. The team’s extensive experience in practice finance allows them to provide expert guidance at every stage of a practitioner’s journey, from opening a new office to expanding operations or planning for retirement.
HPSG’s approach is rooted in a deep understanding of the healthcare industry’s dynamics. The team recognizes that each practice has distinct financial needs, whether it’s managing cash flows based on patient relationships or navigating large-scale construction projects. This expertise enables HPSG to offer flexible financing solutions, including up to $12 million in loans and 100% practice financing. Additionally, the group has built an educational platform, publishing thought leadership articles and presenting at national industry events, further establishing its authority in healthcare financing. The result is a robust support system that helps healthcare providers achieve their professional goals while maintaining high standards of patient care.
Building Lasting Trust Through Unwavering Support
The true strength of HPSG lies in its unwavering commitment to clients during challenging times. During the COVID-19 pandemic, when many lenders hesitated, HPSG continued to extend loans, increasing its client base and loan volume by 30% over two consecutive years. This steadfast support has earned the group an exceptionally high retention rate, estimated at over 90%. By focusing on long-term relationships rather than transactions, HPSG has cultivated trust and loyalty among healthcare professionals who rely on its expertise and flexibility.
Two success stories exemplify HPSG’s impact. Dr. Alexander Salerno, founder of Nirvana Healthcare Management Services, expanded his practice from five employees to 500, serving 60,000 patients across 12 offices. Dr. Michelle DeFelice Hucke, owner of Jax Beaches Family Dentistry, transformed her practice from generating $900,000 annually to over $3 million, thanks to HPSG’s support. Both practitioners highlight HPSG’s deep understanding of healthcare businesses and its ability to provide crucial relief during the pandemic. “When you know your bank will confidently help you navigate challenges, it alleviates a huge part of the stress,” said Dr. Salerno. HPSG’s dedication to supporting healthcare providers through every stage of practice development has established it as a vital partner for building sustainable, community-oriented healthcare businesses.