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Health systems are currently facing unprecedented pressures, including rising patient expectations, declining hospital volumes, and financial losses. To address these challenges, many forward-thinking health systems are shifting their focus from traditional acute care hospitals to expanding their networks with non-acute assets. However, many systems struggle with informal partnerships and affiliations, which hinder their ability to create a seamless patient experience across the care continuum. To tackle these issues, EY-Parthenon advocates for a strategic approach that emphasizes the creation of a connected health care system. This involves developing formal partnerships and joint ventures (JVs) to build integrated delivery networks (IDNs) that enhance care coordination and interoperability. By stitching together a network of partnerships and owned assets, health systems can unlock growth opportunities while maintaining operational excellence. The results of this approach are significant. An analysis of nonprofit health system deals from 2018 to 2023 indicates a growing reliance on partnerships and JVs, which not only address the challenges of care coordination and interoperability but also improve patient outcomes. By optimizing relationships with various third parties and enhancing access points, health systems can differentiate themselves in the market, grow their patient base, and manage risk effectively. This strategic shift is essential for health systems aiming to thrive in a rapidly evolving healthcare landscape.
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