CentraState Healthcare System and Atlantic Health System will create a unique model for health system co-ownership, according to a definitive agreement solidifying plans announced just weeks ago to expand their partnership.
The agreement was announced Wednesday.
Upon receipt of state and federal regulatory approval, Atlantic Health will become the majority corporate member in CentraState and CentraState will join the Atlantic Health System network of care.
Benefits to patients, physicians and caregivers in CentraState’s communities include stronger integrated clinical services, physician network and infrastructure, the entities announced, through a $135 million capital investment outlined in a five-year plan endorsed by both systems’ boards.
This partnership will provide CentraState with resources to support its longstanding community focus while advancing Atlantic Health’s mission to touch more lives in New Jersey through collaborations for high-quality, value-based care.
“We are excited to deliver our shared mission of advancing the health of our communities, and confident this innovative partnership positions both organizations for continued success and growth,” said CentraState Chief Executive Officer and President John Gribbin, who along with the CentraState board and leadership team will continue to oversee the system’s operations and to ensure commitment to “the compassionate delivery of quality health care” continues.
The two organizations will invest in and implement the Epic electronic health record (EHR) platform across CentraState Healthcare System, starting with physician practices before extending throughout the system. The EHR will improve efficiency and safety in care delivery by providing physicians with a patient’s full and up-to-date medical record.
Upon completion, CentraState will join Atlantic Health System on Epic.
Additionally, the partnership will provide CentraState physicians with the opportunity to participate in Atlantic Health System’s affiliated physician group practices and programs, including risk-based contracting initiatives, which have already delivered better health care results for patients and proven savings.
“The swift progress we have made with CentraState on this latest partnership shows how effective we can be together in delivering innovative and high-quality care for New Jersey’s residents and families,” said Atlantic Health System President and CEO Brian Gragnolati. “I am thrilled to see all that we can accomplish when we work together to put patients first.”