The boards of five of South Carolina's largest health systems have approved the creation of a collaborative to contain healthcare costs.
The Initiant Healthcare Collaborative will include Greenville (S.C.) Health System, McLeod Health in Florence, Charleston-based MUSC Health, Palmetto Health in Columbia and Greenwood-based Self Regional Healthcare, according to a news release.
The CEOs of the five systems decided to form the collaborative as a way to create synergies among their organizations while still retaining independence. "When health systems collaborate in areas that save patients and businesses money, and continue to improve and focus on areas of safety and quality, everyone benefits," Jim Pfeiffer, president and CEO of Self Regional Healthcare, said in the release.
The five health systems working together will lead to economies of scale. These include accessing critical competencies not affordable or available to the members on their own, sharing administrative and clinical support functions, and the purchasing of equipment, supplies and services, according to the release.
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