Unveils New Southern California Physician Alliance
One of the largest healthcare organizations in Southern California has formed a new physician alliance, Providence Partners for Health, to help manage the challenges of an evolving healthcare environment while improving patient care.
Providence Partners for Health, LLC, is a joint venture owned equally by member physicians and Providence Health & Services, Southern California, with five award-winning medical centers in the Greater Los Angeles Area. Physicians will lead and govern the alliance.
“The healthcare industry is changing rapidly with an increased focus on accountability, controlled costs and most importantly, quality,” said John Armato, M.D., chairman of the new alliance. “Providence Partners for Health provides a tool for us to partner with physicians to share best practices and clinical data and to foster and sustain a system driven by both quality and value.”
According to Dr. Armato, this move will position Providence for success in the current reform-based healthcare environment, including participation in pay-for-performance, narrow networks and value-based purchasing programs, which incentivize and reward providers for demonstrating improved quality and controlled healthcare costs.
“Providence is at the forefront of integrating health care, working with physicians to improve patient care by sharing information and cutting costs for consumers,” said Kerry Carmody, chief operating officer for Providence in Southern California. “We believe this is a very creative solution that enhances the Providence mission, our physicians’ practices and the care we provide together for our patients at a time when complex issues are changing the face of health care.”
Providence physicians who join the clinical integration network will agree to share their data on quality, receive feedback on performance from their physician colleagues and demonstrate adherence to PPH-developed care guidelines with the goal of improving outcomes for patients.
To support physician members, Providence has developed shared programs and an organizational infrastructure that includes information technology, a data warehouse and an electronic medical records system, essential tools for providing health care in the current market.
PPH will focus on achieving clinical integration by forming teams of physicians, clinicians and experts who will identify opportunities for advancing medical care, including standardizing practices shown to provide the best results.
All medical staff members and medical groups at Providence entities in Southern California who meet investor qualifications will be eligible to join PPH.
Any investment in the membership units of PPH can only be made by the means of a confidential offering memorandum and other subscription documents, which will be furnished to each qualified medical staff member and medical group, and in accordance with all applicable federal and state securities laws. Each qualified physician or medical group at Providence should carefully read the offering memorandum and the subscription documents before making an investment in PPH. This communication does not constitute an offer to sell or a solicitation of an offer to buy any securities in Providence Partners for Health in any jurisdiction, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.