In the animal kingdom, there’s power in quantities, specially amongst creatures that uncover them selves towards the base of the foods chain. This concept is also correct in today’s hyper-competitive health treatment sector.
Progressively, smaller companies with rather constrained sources and attain are teaming up in the sort of “collaboratives,” “alliances,” “networks” or “partnerships.” Nowhere is this pattern much more common than in hospice, where by at least a dozen substantial-profile collaboratives have launched in excess of the earlier 5 a long time.
“Many nonprofits are standalone functions covering a relatively small services region,” 1 hospice CFO from the San Francisco region explained to Hospice News in 2019. “When you are heading up towards a regional or countrywide chain, you have to band together.”
An increased capacity to agreement with payers, far more bargaining electricity with sellers and better economies of scale are a number of of the strategic positive aspects of “the care collaborative design.” In addition to all those rewards, collaborating corporations can freely share – and strengthen on – finest practices and protocols.
“One of the items that truly served us nicely as significantly as these collaborations was the responsiveness to the COVID pandemic,” Eric Tetzlaff, administrator of Sharon S. Richardson Neighborhood Hospice, explained to Hospice News.
Regardless of a heritage of results in hospice, the residence wellness sector has seen reasonably couple of treatment collaboratives. But as agencies confront mounting issues and fiercer competition though simultaneously transitioning absent from fee-for-services Medicare, the system could extremely most likely choose up steam, I believe that.
In this week’s distinctive, associates-only HHCN+ Update, I investigate how treatment collaborations have impacted the hospice field and depth how these a trend could profit house well being providers in the long term.
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