Corporate Finance
Professional Legal Services
Full Credential Description
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 still rely on informal partnerships and affiliations, which complicates the integration of care across the continuum and hinders their ability to deliver a seamless patient experience. 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. An analysis of nonprofit health system deals from 2018 to 2023 indicates a growing reliance on partnerships and JVs, which can help health systems navigate the complexities of care delivery and improve patient outcomes. The EY-Parthenon framework for building a connected health system consists of three key components: creating a strategy to buy, build, or partner; connecting through an effective operating model and care coordination; and optimizing technology investments and the patient experience. This comprehensive approach not only addresses the operational challenges faced by health systems but also positions them to better meet the evolving needs of patients in a competitive landscape. By focusing on these strategies, health systems can differentiate themselves, grow their patient base, and effectively manage risk, ultimately leading to improved financial performance and patient satisfaction.
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