The financial investment is unknown, although each system will invest equally. "It depends on what we do," says Freedman. "If we decide to have an insurance company with full commercial, Medicaid, and Medicare Advantage plans, that’s one number. If we do shared savings, that’s an entirely different number."
Put simply: The group is in the process of assessing its opportunities. "This is a starting point," Freedman says.
Work groups directed by C-suite representatives from all three health systems have been formed, with each system focusing on one area. Aria Health is focused on business planning, Einstein Health Network is looking at human resources, and Abington Health is tackling the technological infrastructure for the initiative.
The three are in the process of forming an LLC to oversee the initiative, which will have a governing board of an equal number of representatives from each health system. An executive team will be recruited to oversee the LLC.
Freedman says there are no merger plans for the three health systems.