73H - Pivotal Moments and Crucial Decisions: How an Academic Health System and Community Hospital Paved the Way for a Successful Merger
Tuesday, March 21
Over the past two decades, the healthcare landscape has been redefined by a large number of affiliations, partnerships, mergers and acquisitions that have affected local, regional and national markets. These new combinations make the headlines as they announce ambitious synergies and benefits that are anticipated. But many of these deals also end up in the headlines as transactions fall apart when cultures aren’t compatible, governance structures are unwieldy, performance declines and overall expectations aren’t met. The unwinding process can be disruptive and costly, as demonstrated by Hoag Memorial Hospital, Newport Beach, Calif., and Providence in Renton, Wash., and others across the country.
Keck Medicine of USC and Methodist Hospital of Southern California are completing a two-year process of determining how combining the strengths of both organizations will allow them to operate more effectively and ensure access to the best of both community and academic medicine.
This session will highlight the pivotal moments and crucial decisions related to vision, culture, governance, organization and operations, physician impacts and politics, clinical/quality impacts, and financial benefits. Presenters will discuss pre-transaction trust building and setting the stage, use of consultants, organizational structures to manage the affiliation process, strategies for aligning vision and building culture, EMRs and physician alignment, approaches to shared governance, transitioning corporate functions, financial decisions, unique approaches to compliance, and go/no go decision points.
- Learn how Keck Medicine navigated through the barriers and pitfalls faced by other affiliating organizations to successfully bring a community hospital into its system.
- Understand how unique approaches to compliance, finance, use of consultants and other key decisions can ease the partnership process.
Tammy Capretta, RN
Chief Transformation and Risk Officer
Chief Strategy Officer
Eric Strucko, PhD