The health system said the name change is part of an effort to rebrand as "a more consumer-centric, connected, and identifiable national system of care," in today's bite-sized hospital and health industry news from Florida, Illinois, South Dakota, and Wisconsin.
- Florida: Adventist Health System this week changed its name to AdventHealth as part of an effort to rebrand as "a more consumer-centric, connected, and identifiable national system of care." The health system encompasses 50 hospitals and more than 1,200 health care venues and serves more than five million patients in 10 states each year (Commins, HealthLeaders Media, 1/2).
- Illinois/Wisconsin: Advocate Aurora Health on Wednesday announced that it will power all of its facilities with only renewable electricity by 2030 in an effort to reduce its carbon dioxide emissions by more than 392,000 metric tons. The health system said it already has reached up to 10% of its goal, and will research on-site renewable energy production in order to completely rely on renewable energy by 2030 (Johnson, Modern Healthcare, 1/2).
- South Dakota: Senior care nonprofit Evangelical Lutheran Good Samaritan Society and health insurer Sanford Health on Wednesday announced that their merger is complete. The merged organization has 300 clinics, 200 senior care locations, and 45 hospitals across 26 states and nine countries (AP/Sacramento Bee, 1/2).
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.