Joint Venture Advantages And Disadvantages

Accountable Care Organizations and Physician Joint Ventures
Lately, you’ve seen multi-collaborations of healthcare organizations that have joined an alliance to provide exceptional healthcare and to remain relevant to competitors. Since the early 1990s, the alignment or integration of the physician-hospital concept has been a perception that has come to fruition; today, there are various models of physician integration throughout the hospital and healthcare network (Harrison, p. 179, 2016). The physician integration model is a series of joint ventures which are linked through corresponding goals, for example, primary care clinics, employed physicians, and independent and affiliated medical groups (Harrison, p.190, 2016). While the models of

Over the past ten years, I’ve seen the merging or acquisition of many hospitals and healthcare facilities (i.e., Aria buying Frankford Hospital Systems), giving the joint venture the competitive advantage in the marketplace (Harrison, p. 188, 2016). Besides having a competitive edge, this model has increased innovation combined with shared expertise, technology, and collaborative research. The joint venture continuum of care aligns with the same strategy and vision, trust and values; subsequently, the operational and financial goals are in sync as well. However, the disadvantage to this is if the above characteristics do not have similarities, there is a chance that the joint venture has an increase of eventual breakdown or

Clinical integrations’ importance stems from the opportunity to coordinate services in the current environment in an affordable way while delivering high-quality care (Harrison, p180, 2016). With innovative quality improvement programs like the electronic health records, management of chronic care programs, and centralized scheduling these tools make it easier to integrate healthcare systems, so information is retrieved quickly making it menial to make decisions. Likewise, the Accountable Care Organizations (ACO) allows for the integration of patient care through which the primary care providers are responsible for coordinating. Since Medicare is the driver in healthcare, the idea of integration was to monitor healthcare from patient and payer perspective (Harrison, p180, 2016). For Medicaid patients, the care continuum stretches to the primary care provider to provide care at a lower cost. The integrated delivery system (IDS) develops a clinical integration Network according to Health Research & Educational Trust and Kaufman, Hall & Associates, Inc., “aimed to improve quality, enhance access, lower costs, achieve clear first-mover advantage, improve stakeholder (physician and patient) satisfaction and improve its performance in a value-based reimbursement environment” (p20, 2012). Therefore, the ACOs are increasing