Partners in Clinical Excellence
Published By: Trustee Magazine • 07/14/2014 4:31 PM
By John Morrissey
Community hospitals are tapping into top-quality expertise with nationally renowned organizations interested in expanding their reach, to enhance quality and gain needed resources for long-term viability. The exercise of franchising the medical know-how of big-name specialty academic and research centers is not new – but the motivations of both the renowned organizations and their community hospital affiliates are more fundamental and urgent, and successful transplantation of innovation and specialty precision can pay off as health reform boosts the idea of clinical excellence as a business strategy.
An option that combines clinical and financial benefits is a partnership that marries clinical reputation and operational acumen. A budding venture between LifePoint Health, a for-profit company in Brentwood, Tenn., and Duke University Health System, an academic medical center in Durham, N.C., is pursuing that approach. Each contributes its strengths to a joint venture seeking community hospitals to buy and bolster, which healthcare financial analysts call the hospital industry's "most important trend in the last two decades." The Duke LifePoint model was profiled for its leadership role in this growing trend, along with Mayo Clinic, MD Anderson, Memorial Sloan Kettering and other forward-thinking health systems and community hospital partners.
Read more at the Trustee Magazine website.