Religion getting in the money here as CHI also invested in the Ascension Health Ventures, more on that organization at the link below. The Catholic healthcare system is beginning to resemble some of the news that hear and see with for profit companies like HCA any more. Maybe it’s just me but reading all these “visions” on websites anymore sure are canned and we know why they are all there for, money, so on most websites anymore, are these really needed to define <grin>.
Ascension Health and Private Equity Firm Oak Hill Capital Form Joint Venture To Buy Catholic Hospitals and Health Systems
In just thinking out loud though, where do companies like Accretive figure in here? You know all the analytics folks are like the right arm person so create additional dollars and find waste, no matter what methodologies seem to be used. We already know they got caught on Wall Street showing actual patient records to investors…so again..what will be their algorithmic role here? Revenue cycling is right up there on the list along with biotechnologies but seriously when it comes to biotech, hospital systems are rare to go there as most are too busy trying to run their own operations.
There are exceptions with the likes of Johns Hopkins and the Cleveland Clinics with specific business units that are set up for working with biotech investments and a lot of good stuff comes out but for your average healthcare system or insurance company, they all go for the analytics investments to have some skin in the game to see if it can help them with hospital budgets and expenditures. All this talk about legacies and so forth any more kind of all look very cookie cutter when you read enough of it as similar templates seem to create a lot of what is read today as well. Tell me something new:) BD
Ascension Health Renews Its 5 Year Contract with Accretive With Caution as Agreement Includes Provisions to Cancel Should Any Type of Abuse Occur
Catholic Health Initiatives, the nation's second-largest Catholic health system, will invest as much as $200 million through a newly created venture capital group.
The Englewood, Colo.-based system will seek to invest in coming years in biotechnology, information technology, revenue cycle and clinical engineering, and in companies that support management of risk and population health. System executives see the venture as an opportunity to invest in companies that support CHI strategies as the U.S. health system undergoes change, said Nicholas Barto, who joined CHI in June as managing director of its venture capital group, which will operate as a subsidiary of the system.
The endeavor is not the system's or the industry's first foray into provider-led venture capital. CHI this year invested for a second time in a fund overseen by Ascension Health Ventures, the venture capital arm of Ascension Health, St. Louis. CHI in 2007 had joined Ascension, Catholic Health East, Newton Square, Pa., and Catholic Healthcare West, now known as Dignity Health, San Francisco, in a $200 million fund also overseen by Ascension Health Ventures. CHI will continue to make investments with Ascension, and will seek other opportunities, Barto said.