Erik Ott & Joyce Hankins – Carolina Health Specialists

Erik Ott and Joyce Hankins have spent nearly three decades helping Carolina Health Specialists build something increasingly rare in modern healthcare: a large, independent, physician-owned practice that competes effectively with hospital systems while protecting autonomy, efficiency, and access to care. As CFO and COO, they jointly lead the organization without a CEO, relying on a lean operating structure, disciplined growth strategy, and a business model designed to attract and retain top medical talent.

Erik Ott & Joyce Hankins | Carolina Health Specialists | CFO, COO

Their partnership is rooted in shared institutional memory. Both joined the organization early in their careers, growing alongside the company as it navigated reimbursement shifts, regulatory change, staffing shortages, and industry consolidation. That long view has shaped a leadership philosophy focused on sustainability rather than speed, operational clarity rather than complexity, and physician empowerment rather than corporate hierarchy.

Measured independence in a consolidating industry

Carolina Health Specialists is a multi-specialty provider group headquartered in Myrtle Beach, South Carolina, with outpatient locations in Little River, Myrtle Beach, Carolina Forest, and Socastee. The organization delivers a broad range of in-house services, including lab testing, ultrasounds, pulmonary function testing, bone density screening, stress testing, nuclear stress tests, and CT imaging. By focusing on outpatient care and integrated diagnostics, the group reduces reliance on hospitals while improving patient convenience and affordability.

Ott and Hankins joined the company when it was still developing its identity as an independent practice. From the beginning, leadership resisted the temptation to pursue aggressive acquisition strategies that dominate healthcare growth models. Instead, the organization adopted a philosophy of measured expansion that avoids debt, preserves culture, and prevents operational sprawl.

“We look at measured growth, not explosive growth,” Ott says. “With our longevity, we’ve seen what happens when organizations expand too fast and lose control of operations.”

That restraint has allowed Carolina Health Specialists to remain one of the largest private multi-specialty practices in South Carolina and the Southeast without sacrificing independence. While many physician groups have been absorbed by hospital networks or private equity-backed platforms, Carolina Health Specialists continues to operate as an S corporation, with physicians serving as shareholders and owners.

This structure reinforces long-term thinking. Financial decisions prioritize stability, reinvestment, and physician compensation rather than short-term margins. The result is a business model that aligns leadership, clinicians, and staff around shared incentives and sustainable performance.

A lean leadership model without a CEO

One of the organization’s most distinctive features is its leadership structure. Ott and Hankins jointly manage Carolina Health Specialists without a CEO, intentionally eliminating unnecessary layers of management. Earlier in the company’s history, additional executive roles created inefficiencies and slowed decision-making. Over time, the organization streamlined leadership responsibilities to keep operations lean and responsive.

Today, Ott oversees finance, IT systems, data analytics, and revenue operations. Hankins manages operations, marketing, organizational coordination, and workforce strategy. Together, they share responsibility for physician relations, strategic planning, and long-term growth initiatives.

“We wear a lot of hats,” Hankins says. “We shift throughout the day depending on what the organization needs.”

This structure reduces administrative overhead and redirects resources toward physician compensation and service expansion. It also enables faster operational responses in an industry where reimbursement models, insurance requirements, and patient expectations are constantly evolving.

Under their leadership, Carolina Health Specialists refined its focus on outpatient care. Rather than expanding hospital-based services, the organization invested in clinic-centered delivery models that shorten wait times and improve access.

“There aren’t enough primary care doctors,” Ott says. “Patients should not have to wait months just to get an annual exam.”

The addition of in-house ancillary services has further strengthened that approach. Patients can complete diagnostics and imaging without navigating multiple facilities, improving continuity of care while lowering out-of-pocket costs. Planned expansions include mammography, neurology services, and an in-office pharmacy designed to increase price transparency and reduce reliance on third-party middlemen.

A physician-first business model

At the center of Carolina Health Specialists’ success is a physician-first operating model that balances autonomy with scale. Doctors maintain independence in how they practice medicine while benefiting from a centralized business infrastructure that handles billing, compliance, IT, scheduling, and administrative operations.

“With our size, physicians can focus on patients instead of managing the business,” Ott says. “That’s a major differentiator.”

Physicians are not micromanaged and are not forced into rigid productivity quotas. Instead, they operate with flexibility and ownership, supported by compensation structures that reward efficiency and quality care. After an initial onboarding period, physician compensation becomes fully performance-based, allowing high performers to earn above median market salaries while maintaining manageable daily patient volumes.

“They see fewer patients and still earn more,” Hankins says. “That balance is what attracts and keeps talent.”

Recruitment is designed to ensure alignment with the company’s culture and expectations. Candidates begin with introductory calls to understand the business model. Financial discussions follow, and finalists participate in on-site visits that include office tours, physician meetings, and community introductions. The process emphasizes mutual fit rather than rapid hiring.

“If it’s not the right match, we know quickly,” Ott says. “We want both sides to leave confident about the decision.”

This approach has reduced physician turnover, which remains one of the most expensive challenges in healthcare. Recruiting replacements often takes six to eight months, disrupting patient access and operational stability. By prioritizing alignment and long-term satisfaction, Carolina Health Specialists has built a stable provider base with many physicians serving extended tenures.

Financial discipline & employee investment

Operational efficiency has translated into strong financial performance. Under Ott and Hankins’ leadership, Carolina Health Specialists has doubled shareholder value, improved time-of-service collections, and reduced patient no-shows through improved scheduling systems and data-driven workflows.

Employee retention remains a strategic priority. Staff receive retention bonuses every five years, a 10.5 percent 401(k) match, and performance-based incentives tied to company performance. Seasonal bonuses and recognition programs reinforce a culture that values frontline contributions.

“If we operate efficiently, we can give more back to our physicians and staff,” Hankins says.

Both leaders also serve on the organization’s board alongside physician shareholders, ensuring operational strategy remains aligned with clinical priorities. Benefits planning, workforce development, and long-term financial stability are treated as investments rather than administrative costs.

Looking forward, Ott and Hankins continue exploring selective expansion opportunities, including rural outreach and direct employer contracting partnerships that bypass traditional insurance structures. These initiatives reflect the same disciplined philosophy that has guided the company for decades.

After nearly 30 years of shared leadership, both remain deeply connected to the mission that first drew them to Carolina Health Specialists. They have refined a model that resists industry convention while delivering consistent results for physicians, staff, and patients.

In an era dominated by consolidation and scale, Carolina Health Specialists stands as proof that independence, operational discipline, and physician-centered leadership can still thrive. For Ott and Hankins, that outcome is not accidental. It is the product of deliberate choices, shared accountability, and a long-term commitment to building healthcare differently.