Oakland, Calif.-based Kaiser Permanente and San Francisco-based Dignity Health have agreed to jointly own St. Joseph's Medical Center in Stockton, Calif., in a first-of-its-kind partnership for the healthcare providers, according to a report from The Record.
Here are six things to know about the agreement.
1. The 366-bed St. Joseph's will become a Dignity Health and Kaiser facility. However, the facility's name will not change, and current St. Joseph's administrative staff will still be responsible for daily operations.
2. Dignity Health will retain an 80 percent ownership interest in St. Joseph's, according to the report. Meanwhile, Kaiser will have a 20 percent share in St. Joseph's and its associated operations in Stockton, including St. Joseph's Behavioral Health Center.
3. Under the agreement, Stockton's more than 100,000 Kaiser insurance members will be able to fully access services offered by St. Joseph's, according to the report. Current Kaiser physicians will join the hospital's medical staff.
3. Financial terms of the agreement were not revealed.
4. Deborah Friberg, a Kaiser senior vice president, said the arrangement is "a unique partnership within the Kaiser system ... By partnering with an existing resource, it will enhance both our shared interests," according to The Record.
5. The partnership will become effective in mid-2016.
6. In the meantime, Dameron Hospital, Kaiser's hospital provider in Stockton, will honor its contract to serve Kaiser's Stockton-area members needing inpatient and emergency care, according to the report. "Dameron has been Kaiser Permanente's hospital provider for many years and we have great appreciation for everything they do for our members. We are working with Dameron to ensure a smooth transition over the next six months," Kaiser officials said in a statement, according to The Record.
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