St. Joseph’s Hospital and Medical Center in Phoenix has created a co-management company with Barrow Neurological Institute, according to a Phoenix Business Journal report.
Barrow is now 75-percent owned by the physicians and 25-percent owned by St. Joseph’s. As a for-profit and limited-liability company, it will cover all of the neurology groups at St. Joseph’s, including the hospital’s employed physician group, Barrow Neurology Clinics.
Barrow’s COO, Tom Bour, said the model is an effective way to collaborate without putting the organizations at legal risk.
“Everybody is saying, ‘You have to work together. Oh, by the way, we might also pursue legal action if you don’t do it the right way,'” Mr. Bour said, according to the report. “We are more than willing to do this, but we do need the proper safe harbors to meet in the middle to coordinate what’s happening with the medical practice and what’s happening in the hospital.”
Related Articles on Co-Management Agreements:
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Physician-Hospital Alignment: 4 Strategies to Align Physicians
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