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Cone Health has entered into a management services agreement with Carolinas HealthCare System (CHS) based in Charlotte, NC. Under the agreement, Cone Health will remain independently owned and governed by its current Board of Trustees. The management services agreement becomes effective Oct. 1.
Carolinas HealthCare System is one of the leading and most innovative healthcare organizations in the nation. The relationship forged between the two organizations is expected to enhance clinical excellence and provide for a broader range and higher level of cost-effective healthcare services through the sharing of best practices, access to healthcare management experts and clinical quality teams.
“This new relationship is a very positive step to continue to ensure a strong, secure future for Cone Health, our patients, employees, physicians and our community,” says Tim Rice, Chief Executive Officer, Cone Health. "With a shared passion for patient-centered care, our organizations will continue to enhance services and programs to deliver an exceptional patient experience for every life placed in our care. Our name will remain Cone Health, and our commitment to the community will not change."
CHS Chief Executive Officer Michael C. Tarwater noted that Cone Health and CHS both have distinguished histories as not-for-profit providers of healthcare. "Our organizations share a mission of providing care to all who need it, making this a particularly significant combination," Tarwater said. "By focusing on the highest quality clinical care, the integration of services provided by these two organizations will be unsurpassed in the region and coincides with a national trend toward more collaboration among healthcare organizations. We are honored to have been chosen to work with Cone Health, an organization known for healthcare excellence, and look forward to working together for the benefit of our patients."
The agreement will not change the relationship Triad-area doctors have with Cone Health. Patients will continue to be treated in Cone Health facilities and by the physicians and clinicians they have trusted for their healthcare for nearly 60 years. All decisions about patient care and treatment remain with patients and their physicians. No changes in staffing are anticipated as a result of the agreement.
Cone Health employees will continue to be employees of Cone Health with the exception of five senior leaders who will become employees of Carolinas HealthCare System, including Rice; Terry Akin, President and Chief Operating Officer; Ken Boggs, Executive Vice President and Chief Financial Officer; Dr. Mary Jo Cagle, Executive Vice President and Chief Quality Officer; and Theresa Brodrick, RN, PhD, Executive Vice President and Chief Nursing Officer. These leaders will be responsible exclusively for Cone Health and will remain based in Greensboro.
The management services agreement does not change the pending merger between Cone Health and Alamance Regional Medical Center, which is expected to be completed in late summer. Cone Health recently signed an integration agreement with Alamance Regional Medical Center, and discussions have begun with the Federal Trade Commission in preparation for the FTC’s review process. Alamance Regional Medical Center is supportive of the agreement with CHS.
“This collaboration is a very positive strategy for our health network and our region,” says Dr. Henry Smith, Chairman, Cone Health Board of Trustees. “It ensures we maintain our historic commitment to our local community, while positioning Cone Health for continued success in quality, service and cost in our rapidly changing healthcare environment.”