Across the industry, operating margins are getting slimmer while the demand to deliver high-quality care is increasing, leaving many organizations with no choice but to explore M&A. There is, however, another option.
Modern medical records and other sensitive data require more layers of security than ever before, and institutions in Frederick County are working to keep up.
Surveying the fast-changing landscape in 2012, the CEOs of three hospitals — Western Maryland Health System in Cumberland, Meritus Health in Hagerstown, and Frederick (Md.) Memorial Hospital — contemplated what the future would hold. Each hospital is the sole provider in its county, working in a state dominated by large health systems. All hospitals in the state of Maryland were moving to a global-budget payment system that caps hospital revenues, regardless of the volume of admissions.
“The whole drive here with global budgets is to do all that you can to reduce the cost of care by avoiding unnecessary care and delivering value not volume,” says Raymond Grahe, CEO of Trivergent Health Alliance MSO, a management service organization.
Three hospital labs, part of Trivergent Health Alliance Management Services Organization in Maryland, operate independently while also sharing and insourcing tests and reducing reference lab costs. How do they do it? Atlas Medical’s Multi-Lab Networking, integrating with Data Innovations’® Instrument Manager™ middleware, makes it possible for the labs, each with a common laboratory information system, to integrate equipment. Labs create a batch list, and send instrument-ready specimens. Test results turnaround faster. And the labs are on their way to reducing reference lab costs by about $2.5 million over three years. Trivergent plans to build on the recent successful launch of Multi-Lab Networking by identifying more tests to be shared and expanding offerings to include molecular diagnostics.
Three Maryland-based health systems announced Monday that they've officially named a new union they first discussed publicly in late 2013; the group now will be known as the Trivergent Health Alliance. The new organization also named Raymond Grahe as CEO of Trivergent Health Alliance MSO, the management services organization that is a subsidiary of the alliance.
Frederick Regional Health System, Meritus Health and Western Maryland Health System announced Trivergent Health Alliance today as the name of their regional health care alliance. The group also announced that after a national executive search, Raymond A. Grahe, senior vice president and chief financial officer of Meritus Health based in Hagerstown, Md., has been named chief executive officer of Trivergent Health Alliance MSO, the management services organization that is a subsidiary of the alliance.