The Greenville Health Authority Board of Trustees underwent an extensive and thorough process of analyzing healthcare trends at a local, regional and national level before making changes to Greenville Health System’s governance structure. The process included meeting with governance experts and leaders from some of the most successful healthcare systems in the country to better understand the changes and pressures Prisma Health and other health systems are facing.
One of the most significant changes to health care is how it is funded. The current fee-for-service model is changing to one based on value. With this new model come bundled payments, shared savings and other programs that require providers to deliver better, more efficient care at an affordable price. In addition, businesses are asking Prisma Health to provide care to their employees regardless of location, which means Prisma Health’ service area is quickly expanding beyond the Upstate.
The board voted to approve the changes on December 15, 2015, and they went into effect on October 1, 2016. On this day, Prisma Health transitioned from a public, governmental not-for-profit to a private, not-for-profit organization. Prisma Health also became part of a health company led by the Strategic Coordinating Organization (SCO). The SCO provides strategic direction and corporate services to Prisma Health and any other affiliates that join the health company.
One of the chief benefits of the governance change is Prisma Health’ ability to deliver care to more people across more communities while keeping healthcare decisions local. The ability to manage the health of populations is the future of health care, and the new structure allows Prisma Health to do that in partnership with other entities that share similar missions and visions. These partnerships also bring value in terms of quality and cost-savings to our community. Additionally, Prisma Health remains the safety-net hospital for the region, providing care to patients regardless of their ability to pay.