These collaborations are essential for Maywood, Ill.-based Loyola Medicine as it navigates rising costs, health disparities, workforce shortages and evolving patient needs, Mr. Vincent said.
The academic health system, which is part of Livonia, Mich.-based Trinity Health, has a robust relationship with the West Cook Coalition, he said. The coalition, which includes about 20 organizations total, focuses on addressing community needs in western Cook County and Chicago.
“By collaborating with community-based organizations and other providers, Loyola extends its reach, improves care coordination, addresses social determinants of health and enhances innovation,” Mr. Vincent said. “These partnerships not only drive short-term improvements in patient care and operational efficiencies but also contribute to long-term success by positioning Loyola Medicine as an integrated, patient-centered and forward-thinking health system that’s better equipped to address the complex challenges of the future.”
Created with state funding, the coalition aims to meet the needs of underserved community members experiencing health disparities. It enables Loyola Medicine to collaborate with organizations such as food pantries and mental health providers to improve overall health and wellness, Mr. Vincent said.
As for its mergers and acquisitions strategy, Loyola Medicine’s focus is on ensuring long-term growth and sustainability.
“By focusing on acquisitions that bring a level of operational synergies and cultural alignment, we can better navigate the changing landscape of healthcare, expand our capabilities and provide patient-centered care,” Mr. Vincent said. “The careful evaluation of financial, operational, and cultural factors ensure these acquisitions contribute both to immediate and long-term value for our health system.”
These partnerships and strategies have helped Loyola Medicine reduce costs and improve patient outcomes, which Mr. Vincent said is key to addressing the financial constraints health systems are currently facing and will likely continue to face in 2025.
“We will continue to experience inflationary pressures, particularly as it relates to labor supplies, pharmaceuticals and equipment, as well as an increased demand for care related to the markets changing demographics,” he said. “While costs have increased significantly, we all know that reimbursement has remained largely flat.”
To tackle these challenges, Loyola Medicine is optimizing operational efficiencies, expanding outpatient care services and boosting workforce retention and training, Mr. Vincent said.
“By implementing strategies that support colleague recognition, career growth opportunities and foster a collaborative, inclusive work environment, we’ve seen a significant reduction in turnover and an improvement in our long-term colleague satisfaction,” he said. “These initiatives not only help retain critical staff but also enhance the quality of patient care, and ensure our health system remains resilient in the face of these ongoing workforce challenges.”
With its level 1 trauma center, Loyola Medicine serves a dynamic community and historically has had the highest patient acuity in Illinois, including in 2024, Mr. Vincent added.
“We treat the sickest of the sick and are truly on the front lines of trying to improve the health and wellness of those that we serve,” he said.
