GREENVILLE, S.C. – Five of South Carolina’s largest health systems have formed a healthcare collaborative to drive down costs of health care. The founding members of Initiant Health Collaborative include:
- Greenville Health System, Greenville, SC
- McLeod Health, Florence, SC
- MUSC Health, Charleston, SC
- Palmetto Health, Columbia, SC
- Self Regional Healthcare, Greenwood, SC
CEOs of these leading healthcare systems wanted to find ways to create synergies through the development of Initiant Health Collaborative, while remaining independent. Legislation and payment reform introduced in the Affordable Care Act have created an environment that begins to compensate hospitals and physicians for the value of the services provided rather than solely on the traditional fee-for-service model. This shift has accelerated healthcare providers’ efforts to mitigate rising healthcare costs; explore new ways to optimize access to health services; and to enhance the health and wellness of our communities. Several health systems around the country have created similar collaboratives, including BJC Collaborative in Missouri, Stratus in Georgia and the Iowa Healthcare Consortium in Des Moines.
Initiant Health Collaborative is a limited liability company owned by the founding members. Other members (owners) and participants (non-owners) can be added to the collaborative over time. These strong health systems can work together for common goals, yet remain independent, and will continue to serve patients in their respective communities. Working together allows for economies of scale in areas including the following:
- Joint purchasing of equipment, supplies, and services
- Shared basic administrative and clinical support systems
- Enhanced access to critical competencies not currently available or affordable to a single member
“Health care is changing, and healthcare providers are being called to work together in new ways to reduce costs while continuing to deliver high quality care,” said Mike Riordan, president and CEO of Greenville Health System and a founding member of Initiant. “Through this collaborative, we have an opportunity to do more than any of us can on our own. Together, we can improve the health of our communities in a compassionate and cost-effective manner.”
Additional information is available here.
About Greenville Health System
Greenville Health System (GHS) is committed to medical excellence through patient care, research and education. GHS offers patients a comprehensive network of expertise and technologies through its five medical campuses, tertiary medical center, research and education facilities, community hospitals, physician practices and numerous specialty services throughout upstate South Carolina. GHS is also home to the University of South Carolina School of Medicine Greenville, a joint effort of USC and GHS.
Among the largest healthcare networks in the Southeast, this not-for-profit system contains 1,268 beds, 14 medical residency and fellowship programs, and the state’s largest number of active clinical trials. Recent honors include being named one of the Top 100 Integrated Healthcare Networks, Top 50 Teaching Hospitals and 10 Best-led Hospitals.