Four major nonprofit health systems have launched Longitude Health, which aims to "tackle head-on the most impactful challenges and opportunities in the healthcare industry."
Six things to know
1. Renton, Wash.-based Providence, Dallas-based Baylor Scott & White Health, Charlotte, N.C.-based Novant Health and Houston-based Memorial Hermann Health System are the founding members, according to an Oct. 8 Providence news release.
2. Providence CEO Rod Hochman said in the release that health systems "must transcend traditional care delivery strategies and embrace innovative business models that serve the broader health care community."
"To do so, it is imperative that we work with other like-minded partners facing similar challenges to build up new capabilities," he said. "By implementing solutions that benefit multiple health systems, we can drive down costs and ensure the sustainability of health care delivery. We will lead the charge in shaping a brighter future for health care delivery."
3. Longitude's initiatives will include:
- Transforming business models through identifying, developing and implementing innovative solutions to address the industry's biggest challenges.
- Improving health system performance across key areas, including cost, quality access and patient experience.
- Empowering healthier futures by building equity value derived from developing and scaling new capabilities to achieve sustainable change and invest back into patients and communities.
4. The founding systems will invest in initiatives over the next five years. In the near-term, Longitude will make multiple strategic investments "focused on key areas that can create impact over the first 12 to 24 months" of its formation.
5. Paul Mango will serve as Longitude's CEO. He previously served as chief of staff at CMS and deputy chief of staff for policy at HHS.
6. The CEOs of the four health systems and Mr. Mango will serve as Longitude's board members. Baylor Scott & White CEO Pete McCanna has been appointed chairman of the board.