The Affordable Care Act directed CMS to examine innovative approaches to care delivery; most notably, accountable care organizations (ACOs). ACOs are groups of doctors, hospitals, and other healthcare providers working together to provide coordinated quality care to consumers. The goals is to ensure individuals receive the right level of care at the right time while avoiding duplicative and unnecessary services. An additional focus is on quality and the elimination of medical errors.
For financially sound hospitals and health systems, joint ventures are an attractive strategic alternative. Allowing them to thrive rather than just survive. There are several advantages to be gained by joint ventures including: control throughout the continuum of care, continuation and expansion of services, efficiencies, physician recruitment and alignment, enhanced quality, and increased access to capital.
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