Finger Lakes Health is exploring its options.
The integrated healthcare delivery system plans to contact and vet select healthcare organizations to identify potential partners willing and able to further their mission to improve health and promote well-being in the communities Finger Lakes Health serves.
“The board and system leadership determined that the timing is right to explore options regarding a potential partnership,” said Jose Acevedo, M.D., president and CEO for Finger Lakes Health.
In this time of unprecedented change and transformation in healthcare, Finger Lakes Health is taking a proactive approach and exploring all avenues and options to ensure future financial stability and maintain the quality clinical care required to serve the needs of its communities.
“We believe that exploring our strategic options is in the best interest of the entire system, our employees and physicians, and most importantly, the patients we all serve,” stated Lance Ward, chair of the Finger Lakes Health Board of Directors.
Specifically, the board of Finger Lakes Health has identified the following strategic objectives to guide its decision-making throughout the process:
• Maintain and expand access to healthcare services including new clinical programs to meet service area needs
• Maintain a local role in governance along with parent board representation
• Augment population health capabilities and presence
• Provide enhanced support for clinical quality and compliance
• Maintain and enhance FLH long-term financial viability
• Recruit and retain providers
• Make needed investments in technology and facilities
• Enhance recognition of FLH’s clinical programs through branding
The board anticipates reviewing proposals and potential partner options during the second half of the summer and early fall; each potential partner organization will be evaluated to understand how it can best assist FLH in realizing the system’s strategic objectives. Should the board decide to move forward in exclusive discussions with a potential partner organization, a lengthy due diligence process will be undertaken, as well as any required regulatory review processes.
As the board moves through this evaluation process, additional information will be shared concerning the status of the process. Should the board identify a preferred partner, that announcement will occur once a non-binding letter of intent has been executed that spells out key provisions of the proposed partnership.
“We have crafted the objectives that will guide us during our evaluation of potential partnership options. Well before any contractually binding commitments are made, the Finger Lakes Health Board will share its preferred direction with stakeholders and the community,” said Ward.
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