Albany Medical Center, Columbia Memorial finalize partnership agreement

Albany (N.Y.) MedicalCenter and Columbia Memorial Health of Hudson, N.Y., rang in the new year with the finalized terms of a strategic partnership, according to a Times Union report.

The two organizations will now be able to entertain contract ventures together with insurance companies and government health plans, though there are no joint contracts currently under consideration, according to the article.

Through the joint partnership both institutions believe they will be better prepared to manage emerging methods of reimbursement in which payers are expected to pay a set fee per patient, rather than a fee for each service, Albany Medical Center senior vice president Steven Frisch told Times Union.

Two members of each health organization's board will sit on the opposite system's board to guide the strategic partnership.

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