Gregory Raskin, VP of Memorial Sloan Kettering, has been asked by the hospital to turn over nearly $1.4 million in profits garnered from a "windfall stake" in a biotech company, in today's bite-sized hospital and health industry news from Florida, Massachusetts, Nebraska, and New York.
- Florida: HCA Healthcare has announced plans to merge Tampa Community Hospital and Memorial Hospital of Tampa in November. Once the merger is complete, Tampa Community would serve as a satellite branch of Memorial Hospital and focus on behavioral health care and substance misuse rehabilitation (Dawson, Tampa Bay Times, 9/26).
- Massachusetts/Nebraska: HHS has given Nebraska Medicine and Massachusetts General Hospital each $3 million to start a pilot project for providing medical care during disasters. The project will be called the Regional Disaster Health Response System and will create a tiered disaster care system that brings together various health care institutions, such as trauma centers and emergency medical services (Rappleye, Becker's Hospital Review, 10/1).
- New York: Gregory Raskin, VP of Memorial Sloan Kettering, has been asked by the hospital to turn over nearly $1.4 million in profits garnered from a "windfall stake" in a biotech company, Katie Thomas and Charles Ornstein report for the New York Times/ProPublica. Raskin received the stake as compensation for representing Memorial Sloan on the biotech company's board. However, the hospital has begun re-examining its corporate relationships amid news reports on the topic (Thomas/Ornstein, ProPublica/New York Times, 9/29).
There's more than just M&A. Get the cheat sheet for hospital partnership and affiliation models.
Behind the flurry of M&A in recent years, a deeper trend of hospital integration is underway: the emergence of alternative partnerships that secure many of the same benefits of M&A without the financial and legal commitment: Clinical affiliation, regional collaborative, accountable care organization, and clinically integrated network.
This guide defines these types of partnerships and offers benefits, drawbacks, and examples of organizations in each.