For the Press
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Intiant Health Collaborative
collaborative@initianthealth.com
SC Hospitals create Initiant Health Care Collaborative to Reduce Costs
(Columbia, SC, April 11, 2014) Five of South Carolina’s largest health systems have formed a health care collaborative to drive-down health care costs. The founding members of Initiant Health Collaborative include:
- Greenville Health System
- McLeod Health
- MUSC Health
- Palmetto Health
- Self Regional Healthcare
CEOs of these leading health care systems wanted to find ways to work together while remaining independent, so they formed Initiant. Legislation and payment reform introduced in the Affordable Care Act has created an environment that compensates hospitals and physicians for the value of the services rather than solely on the traditional fee-for-service model. This shift places an enhanced focus on reducing health care costs and the development of new competencies to deliver population health services.
Initiant is a limited liability company owned by the founding members, with the opportunity to add more members (owners) and participants (non-owners) over time. These health systems can work together for common goals, yet remain independent, and will continue to serve patients in their respective areas. Working together allows for economies of scale in the following areas:
- joint purchasing of equipment, supplies, and services
- shared administrative and clinical support systems
- access to critical competencies not currently available or affordable to a single member
Several hospital systems around the country have formed similar collaboratives, including BJC Collaborative in Missouri, Stratus in Georgia and the Iowa Healthcare Consortium in Des Moines. Health systems are now focused on boosting quality outcomes and reducing costs simultaneously. By forming Initiant, South Carolina’s leading health systems are combining forces to effectively address costs and pursue other synergies required to perform in the new era of health care.
About Greenville Health System
About McLeod Health
About MUSC Health
About Palmetto Health
About Self Regional
