Greenville Health System and four other hospitals around the state have formed a partnership designed to save money through group purchasing and other shared activities.
The Initiant Health Collaborative also includes McLeod Health in Florence, MUSC Health in Charleston, Palmetto Health in Columbia, and Self Regional Healthcare in Greenwood.
“Health care is changing, and health-care providers are being called to work together in new ways to reduce costs while continuing to deliver high-quality care,” said GHS CEO Mike Riordan, a founding member of Initiant.
“Through this collaborative, we have an opportunity to do more than any of us can on our own,” he said.
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As the health-care landscape evolves, hospitals are increasingly reimbursed for the value of the services they provide instead of the fee-for-service system that has existed for years, officials said.
As a result, they are looking to reduce costs and optimize services while enhancing the health of the community, they said.
The collaborative, which is a limited liability company owned by the founding members, will allow them to do that while remaining independent, officials said.
The arrangement will enable joint purchasing of equipment, supplies and services, for example, as well as shared basic administrative and clinical support systems.
Other health systems around the country with similar collaboratives include BJC Collaborative in Missouri, Stratus in Georgia and the Iowa Healthcare Consortium in Des Moines, officials said.