Grand Rapids, Minn.-based Grand Itasca Clinic and Hospital CEO Mike Youso said changes in the industry drove the hospital to partner with Minneapolis-based Fairview Health Services, according to the Herald-Review.
Under terms of the agreement, which took effect Jan. 1, FHS became the sole owner of GICH. The hospital, however, was able to maintain its 15-member board of directors, with three members representing FHS' interests, according to the article. GICH's board of directors also maintain the option to terminate the partnership if officials no longer believe the collaboration to be beneficial for the hospital.
Mr. Youso told the Herald-Review there will be no staffing changes on account of the partnership.
In the first year of the partnership, officials said the institutions will collaborate on EHR migration, payer contract negotiations, legal, risk and compliance support, revenue cycle management, supply chain improvements and a joint regional growth strategy, according to the report.