Moreover, the company is focused on the cost, access, quality and sustainability of care. The strategy followed by Steward Health Care System was to generate value for the patients. Instead of accepting installments from CMS focused around the amount of services gave, ACO members accepted installments from the legislature focused around patient conclusions, which swayed medicinal services suppliers to lower the costs and enhance the nature of care. The four major elements of the model are access, sustainability, costs and quality. With the help of this model, the company would be able to decrease the chances of faults and the probability of replication in treatments. The basic requirement of the model was the complete sharing of records and information. The purpose of this model was to reduce the cost along with making improvements in the health care sector. The company has implemented Accountable Care Organization (ACO) model. The case study is based on the application of the model in the organization. The company acquires capital from the capital management company known as Cerberus to stabilized six hospitals. As of now, the company is serving millions of patients per annum in more than 100 communities. The company has made swift growth by expanding from six hospitals to eleven hospitals. The company is known to be the second largest health care system in the country. “We look forward to achieving the next level of patient-centric care, through a doctor-owned structure that unites all aspects of care delivery and prevention in ways never before contemplated.Steward Health Care system, a company founded in 2010 is based in New England. de la Torre thanked Cerberus for their work to grow Steward into a national system. “We believe this transaction will ensure that Steward Health Care’s transformative, accountable care model will continue to drive innovation as a physician-owned and integrated health care system.”ĭr. “For nearly a decade, we have partnered with Steward Health Care to build an industry-leading company that provides access to affordable, high-quality, community-based care across the United States,” said Brett Ingersoll, Senior Managing Director and Chairman of the Private Equity Investment Committee at Cerberus via release. The physician group will control 90 percent of the company, and Medical Properties Trust will maintain the 10 percent it already owned. This week, Cerberus’ controlling interest was exchanged for a convertible note of an undisclosed sum. He will be the company’s chairman and CEO.ĭe la Torre said the organization would look to integrate long term clinical and community needs and short term patient needs, emphasizing the importance of physician ownership and health system deficiencies’ impact on underserved communities.Ĭerebrus first backed the company in 2010, acquiring six hospitals in Massachussetts. “This is a transformational moment for the health care industry, with new realities in a COVID-19 world that must be addressed with an equally transformational, patient-first approach,” said Dr. Earlier this year, the system told employees to expect furloughs due to the impact of the virus and drop in elective surgeries. The system, which threatened to close a hospital in Pennsylvania during the COVID-19 pandemic, operates 37 hospitals in Malta and nine states in the U.S., employing 42,000 people. Ralph de la Torre, making it the largest physician-owned healthcare system in the country. Private-equity backed Steward Health Care has been acquired by a group of Steward Health Care physicians led by the company’s CEO, Dr.
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