Will Share Services, Best Practices While Retaining Independent Structure, Governance and Identity
Three leading health systems in North Carolina will be working together to improve quality and affordability for patients across the state. Vidant Health in Greenville, Wake Forest Baptist Medical Center in Winston-Salem and WakeMed Health & Hospitals in Raleigh are forming a shared services operating company that will allow the organizations to gain benefits of scale while maintaining current governance and independence. This significant relationship will not include a merger or acquisition of organizations.
This unique opportunity comes about because the individual health care systems share similar missions, visions, values and strategic focus. Leaders from all three systems are confident success will come from partnering with other like-minded health care organizations to provide enhanced access and high- quality, affordable health care to patients and consumers.
This innovative model provides support for health care reform initiatives - including Accountable Care Organization development and implementation, care coordination for population health - and creates business and clinical efficiencies. Opportunities such as supply chain management, select IT infrastructure and clinical protocols will be available to its member institutions by the new company.
“By joining together in this shared services company, we are able to take advantage of the collective talents of all of the members and have the opportunity to invest more in the care of our patients,” said David C. Herman, M.D., president and CEO, Vidant Health.
The new company, which will be named in the near future, will assist in meeting the challenges posed by declining Medicare/Medicaid reimbursement and technological changes while creating a platform for innovation and enhanced clinical care for patients.
“These three organizations have joined resources to more quickly innovate care models and support infrastructure that reduce cost and best meet the needs of the diverse patient, consumer and workforce populations that we serve throughout the state,” said John D. McConnell, M.D., chief executive officer, Wake Forest Baptist Medical Center.
All three organizations’ boards have approved moving forward with creating a shared services organization as a key strategy for improving all of the health systems’ efficiencies and value.
“This new collaborative fits perfectly with our mission and goals of seeking preferred partners to deliver an exceptional level of health care service while leveraging our structures and technological resources,” said Donald Gintzig, president and CEO of WakeMed Health & Hospitals. “We want to deliver the best value to our state’s citizens and do so in a cost-effective manner that is beneficial for all.”
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