Beacon Health Partners Forms 50-50 Partnership with Hospital Group Led by Catholic Health Services
WESTBURY, N.Y., Nov. 5, 2014 /PRNewswire/ -- Beacon Health Partners, a Westbury, New York, based independent physician network, and Catholic Health Services of Long Island (CHS), a Rockville Centre, New York, based health system, jointly announced that effective October 2014 CHS and St. John's Episcopal Hospital have acquired a 50 percent stake in Beacon.
Founded in 2010, Beacon currently comprises more than 100 individual practices and 400 independent physicians primarily in Nassau and Suffolk counties and Queens. Beacon participates in the Medicare Shared Savings Program (MSSP), as well as several pay-for-performance commercial contracts, as an accountable care organization (ACO).
"This partnership will be patient centered, delivering care that focuses on prevention, improves quality and enhances access," said Alan D. Guerci, CHS president and CEO. "This extensive network will help deliver better care to patients and reduce hospital readmissions."
The agreement will significantly increase Beacon's budget, which will enable the organization to expand its integrated care management capabilities and information technology systems, and to support its growing physician network, according to Dr. Simon Prince, Beacon's president and chief executive officer.
"This exciting fifty-fifty partnership between independent physicians and hospitals provides us with the necessary resources to build on our early successes and take our results to the next level," he said. "We will be able to greatly enhance the level of services we provide to our physicians, all focused on our mission to improve quality of care, reduce cost and improve patient satisfaction." Beacon has been recognized by Medicare, as well as partners Empire BCBS and Aetna, for the quality of care, patient experience and healthcare savings achieved throughout its network.
Beacon will add physicians to its ACO from the CHS physician-hospital organization (PHO). "Our goal in the short term is to increase our network to 1,000 doctors and to double our at risk covered lives to more than 100,000," Dr. Prince said. "Moving forward, we will continue to actively recruit additional doctors who maintain the same high-quality standards we require through a strict credentialing process."
In the new relationship, Beacon's management team will remain in place and continue to be responsible for the organization's operations. CHS and St. John's Episcopal will constitute half of the members of Beacon's board of directors; independent physicians will compose the other half, with Dr. Prince remaining as chairman of the board.
About Beacon Health Partners
Beacon is an independent physician association licensed in the State of New York. Through the implementation of comprehensive care management programs, Beacon's mission is to achieve the triple aim of better health for its community, better care for individuals, and lower per capita healthcare costs. At the same time, it seeks to develop a culture to support and increase value for independent physician practices in its community.
About Catholic Health Services
Catholic Health Services (CHS) is an integrated system encompassing some of the region's finest health and human services agencies. With six acute care hospitals, three nursing homes, a home nursing service, hospice, a community-based agency for persons with special needs and a regional lab, CHS's high standards have resulted in a 23% market share.
Contact:
Mark Preiser
631/232-3033
[email protected]
1600 Stewart Avenue, Suite 401, Westbury, NY 11590
516.570.3580 | www.beaconhealthpartners.com
SOURCE Beacon Health Partners
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