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Sorry, if you’re here for relationship advice, you’re in the wrong place. We’re talking business relationships here. But there are several things that all relationships – business or personal – must have to be successful.
Recently, Becker’s Healthcare and Bank of America Merrill Lynch spoke with three hospital and health system chief financial officers (CFOs) and a healthcare strategy expert about clinical and nonclinical partnerships. From this, they developed the Partnership Playbook for Hospital CFOs: A Guide to Collaborative Relationships that Enhance Operational and Clinical Effectiveness. Inevitably, organizations will face the fact that they are not equipped to provide all ancillary services in-house and will look to form partnerships with external experts. According to the participants in this study, healthcare organizations form partnerships, versus mergers, for many reasons including: to achieve economies of scale; to expand service lines; to diversify revenues; and to expand market presence.
Healthcare organizations are not only looking for reliable partnerships that can meet their needs and create efficiencies, they want partners that complement their vision, mission, and culture. This puts the onus on companies like Ob Hospitalist Group (OBHG) to deliver results while simultaneously managing healthy partnerships and working toward mutual goals.
In the Partnership Playbook, study participants cite many must-have qualities in a potential partner before they will sign on the dotted line, but some commonalities surfaced. The CFOs identified four main assets that set organizations apart:
- likeminded vision
- experience and credibility
- cultural compatibility
- financial commitment
At OBHG, we put our partnerships on a pedestal. Without strong collaboration across hospital leadership, staff and physicians, our program wouldn’t be successful. We value and strive toward excellence when it comes to each of the four qualities the CFOs in this study identified.
Hospitals typically seek to establish partnership with an OB hospitalist program to elevate their women’s healthcare services. Where OBHG differs from other programs is that the cornerstone of our mission is focused on elevating the standard of women’s healthcare. OBHG solely focuses on OB medicine. Our physicians and support office team work around the clock to make a difference in the lives of our patients, their newborns, and families. We work with hospitals to determine their needs and how we can fill them. No cookie-cutter approach here. We recognize your specific objectives and goals, cultural expectations, and unique circumstances to create a highly effective, comprehensive, financially viable OB/GYN hospitalist program that is as unique as each of our patients.
Experience and credibility
OBHG is the largest, sole provider of OB hospitalist programs in the country. We have more than 120 current and onboarding hospital partners across 28 states and are growing by the month. With more than 10 years in the industry, we have collected the largest data set that we use as benchmarks to determine success across our programs. OBHG’s analytics team provides quarterly reports, highlighting observations and recommendations for adding value. Saving lives is not just our mission, it’s our reality.
One of OBHG’s key differentiators is our dedication to complementing our partners’ hospital staff and culture. We deliver more than just great physicians to each of our programs. We deliver complete solutions uniquely suited to our hospitals. OBHG’s approach to provider recruitment in today's competitive market is more than just filling a shift. OBHG believes strongly in hiring a cohesive team that will integrate into the hospital culture and forge strong working relationships with the staff and community physicians.
We all know that it takes money to make money. Although there are upfront costs associated with starting our program and hiring board certified physicians, many times, our hospital partners can offset the cost of our program after a few years. Because we triage every patient and provide 24/7 coverage, most of our partners bill as an obstetrics emergency department. Our billing and analytics teams also provide monitoring and feedback on both professional and facility fee coding. We use benchmarks and our experience at similar hospitals to offer insights into appropriate coding definitions and levels.
OBHG is dedicated to not just forming a winning relationship initially, we are committed to continuously evaluating our partnerships to ensure that our teams achieve the best outcomes. We know that successful programs are impossible without strong relationships, so we put our partners first.
This blog provides general information and discussion about healthcare-related subjects. The content and linked materials provided are not intended and should not be construed as medical advice. If the reader is an expectant mother with a medical concern, she should consult with an appropriately licensed physician or healthcare provider.
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