Hospital M&A Boom's Top 3 Drivers
Muller says the Marquette board will still have a role in strategic planning and credentialing. It is satisfied that any concerns it has will be heard by the new owners. "The board is an advisory board now but it is 12 members and they are all local except for one from Duke and we wanted that," he says. "They don't feel like the community governing role is something they need to hold on to the detriment of the hospital."
And that's just it.
Marquette General and scores of other hospitals across the nation have seen which way the winds are blowing. Increasingly they are willing to forfeit a certain amount of autonomy in exchange for access to the capital and clinical and business expertise that will improve their position in a highly competitive market.
This all makes perfect sense in the nearly $3 trillion healthcare economy that is otherwise huge, bafflingly complex, and in the midst of historic change. There is no reason to think that this trend toward consolidation will reverse itself anytime soon.
John Commins is a senior editor with HealthLeaders Media.
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