Memorial Considers Strategic Partnership
Yakima Valley Memorial Hospital is evaluating proposals for a possible strategic partnership that would strengthen the Memorial Family of Services, health care access and the Yakima community at large. Four outstanding Washington organizations submitted proposals: PeaceHealth, in collaboration with University of Washington Medicine; Swedish Health Services/Providence Health and Services; and Virginia Mason Medical Center. Providence Health & Services and Swedish Health Services have recently notified Memorial Family of Services that they are removing their proposal from consideration at this time. Memorial will be proceeding with a due diligence process with the remaining candidates.
For more information, please see our frequently asked questions below:
Why is this being considered?
Healthcare is in a time of intense change. New technologies are creating exciting advances, but often come at great financial expense. In addition, reimbursement for healthcare delivery is changing. Memorial is not immune to the dynamics of this change and must be pragmatic about current trends. Hospitals and health systems around the country are seeking new ways to collaborate and share resources in order to achieve the triple aim - improving the care experience of patients, improving the health of populations, and reducing the cost of health care.
Why are you telling us about this now?
We want the message you hear to come from us, sooner rather than later. A lot of specifics are unknown at this time, but we want to be as transparent as possible about the decisions the Board is making.
What will factor into your final decision?
Any partnership must meet the goals of Memorial's not-for-profit mission and must strengthen both Memorial and the Yakima community to be considered. Key considerations include:
- Cultural compatibility
- Maintenance of a full-service community hospital
- Improved access to and continuity of care associated with services not available in Yakima
- Financial stability and investment in Memorial and the community
- A positive referral experience for physicians and patients
- Enhanced physician retention and recruitment
- A reasonable level of local control by a governing board
What is the next step?
First and foremost, our commitment to our mission and community remains the same. We will continue to deliver the best care to patients and families as we proceed.
Over the next nine to 12 months, Memorial's Board of Trustees will be conducting more thorough investigation, through a due diligence process, with each of these well-recognized healthcare systems. Periodic updates on this process will be provided in the months ahead.
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