Vidant Health, Wake Forest Baptist and WakeMed Health & Hospitals collaborate to form new company
News Release:
Will share services, best practices while retaining independent structure, governance and identity
NORTH CAROLINA Sept. 17, 2014 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 for 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."
Vidant Health has a strong history of partnering with other organizations to help improve the health of the communities it serves, and this new collaboration will not impact existing partnerships.
Vidant Health is a mission-driven, 1,439-bed health system that serves more than 1.4 million people in 29 eastern North Carolina counties. The not-for-profit system is made up of 12,000 employees, eight hospitals, 70 physician practices, home health, hospice, wellness centers and other health care services and is affiliated with the Brody School of Medicine at East Carolina University. Vidant Health entities have received a series of top health care awards including the John M. Eisenberg Patient Safety & Quality Award, Magnet Designation, Most Wired and the McKesson Quest for Quality Prize. As a major resource for health services and education, Vidant Health strives to support local medical communities and to work with providers throughout the region to deliver quality care. For more information, visit www.vidanthealth.com.
Wake Forest Baptist Medical Center (www.wakehealth.edu) is a nationally recognized academic medical center in Winston-Salem, N.C., with an integrated enterprise including educational and research facilities, hospitals, clinics, diagnostic centers and other primary and specialty care facilities serving 24 counties in northwest North Carolina and southwest Virginia. Its divisions are Wake Forest Baptist Health, a regional clinical system with close to 175 locations, 13,500 employees, 900 physicians and 1,000 acute care beds; Wake Forest School of Medicine, an established leader in medical education and research; and Wake Forest Innovations, which promotes the commercialization of research discoveries and operates Wake Forest Innovation Quarter, an urban research and business park specializing in biotechnology, materials science and information technology. Wake Forest Baptist clinical, research and educational programs are annually ranked among the best in the country by U.S. News & World Report.
WakeMed Health & Hospitals
Serving the community since 1961, WakeMed Health & Hospitals is a nationally recognized, private, not-for-profit health care organization founded and based in Raleigh, N.C. The largest health system in Wake County, WakeMed exists to improve the health and well-being of our community by providing outstanding, compassionate, patient- and family-centered care to all. The 896-bed system comprises a network of facilities throughout the Triangle area, delivering health and wellness services that bring added value to the communities we serve. WakeMed is a leader in cardiac and vascular care, women's and children's services, emergency medicine and trauma care, physical rehabilitation, orthopaedics and neurosciences. Specialty facilities include the WakeMed Heart Center, Children's Hospital, Women's Pavilion and Birthplace, Rehabilitation Hospital, Adult and Children's Emergency Departments and a Level 1 Trauma Center. WakeMed's team of more than 8,300 employees, 1,500 volunteers, 1,200 affiliated physicians, and the more than 255 physicians employed by WakeMed Physician Practices use the most advanced technologies along with the best minds and the biggest hearts to ensure the finest quality in health care and community health. For more information, visit www.wakemed.org.
Contact: Beth Anne Atkins, Vidant Health Strategic Development, (252) 744-3891,
Vidant Health, a mission-driven, not-for-profit corporation, owns, leases or has a majority membership interest in nine eastern North Carolina hospitals and has a management agreement with one other. The health system includes Albemarle Health, Vidant Beaufort Hospital, Vidant Bertie Hospital, Vidant Chowan Hospital, Vidant Duplin Hospital, Vidant Edgecombe Hospital, The Outer Banks Hospital, Vidant Medical Center, Vidant Pungo Hospital, Vidant Roanoke-Chowan Hospital, Vidant Home Health and Hospice, Vidant Wellness Centers, Vidant Medical Group and is affiliated with the Brody School of Medicine at East Carolina University. On the web at www.vidanthealth.com
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