Partnership has become a leading strategy to efficiently improve care quality while continuing to meet the needs of the growing medically complex patient population. However, every hospital and community is different, and therefore a one-size-fits-all partnership strategy does not exist. Partnerships can vary in model, stage of the care continuum and facility type.
3 most common partnership models include:
- Joint-venture (JV): JV partnership combines both party’s strengths and brings in specialized expertise, resources and skills to help the hospital elevate its offering and expand patient access.
This was the case for one community health group that was able to grow its average daily census of less than 100 to over 500 through a joint-venture partnership model.1
- Contract management agreement: This is an ideal option for hospitals wanting to maintain full ownership while also tapping into the expertise of a focused partner.
Contract management can also be a great place to start when considering a long-term partner. It gives both parties time to confirm that the organizations are a strong fit before moving into a joint-venture or merger.
- Hospital-in-hospital (HiH): A HiH is a separate hospital that is located within the four walls of another hospital, or in one or more distinct buildings located on the same campus.2 The HiH, or co-location model, can mitigate the risk and challenges of high-risk patient transfers, as well as reduce LOS by providing advanced care under one roof from multiple specialties.
A major benefit of a HiH is that it can also be incorporated into any of the above partnership models to further leverage a hospital’s service lines.
LTACH integration through a joint-venture, contract management or HiH partnership can enable chronically ill patients the opportunity to receive specialized care throughout their recovery journey.
Contact us to learn how our tailored partnership models can help your hospital address the unique needs of your community.
References
- https://www.advisory.com/-/media/Project/AdvisoryBoard/shared/Research/PACC/Resources/2021/Post-Acute%20Partnership-Options-for-Health-Systems
- https://www.law.cornell.edu/cfr/text/42/412.22.