Wellmont Health System, a seven-hospital network based in Kingsport, Tenn., has narrowed down the number of health systems it's considering for a possible partnership from nine to six.
The names of the health systems cannot be disclosed because of confidentiality agreements, according to a news release. The three health systems that submitted proposals but were eliminated from the running didn't meet the guiding principles Wellmont's board created for the review of possible partners.
Healthcare consulting firm Kaufman Hall will guide Wellmont's board and administration in further narrowing the field, according to the release. Wellmont hired Kaufman Hall earlier this year to help the system evaluate its options, roughly a month after announcing its intent to explore whether it should affiliate or merge with another organization. A formal agreement concerning alignment with another health system could be reached in December at the earliest, according to the release.
"The board has taken the correct approach by evaluating our future as an organization while we are in a position of clinical strength and relative financial stability," Wellmont Board Chairman Buddy Scott said in the release. "We expect several more months of research and discussion are needed before our board will determine final recommendations this fall. This takes considerable time and effort given the substance of these proposals and the importance of the task."
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