By: Dale King Contributing Writer
Officials at Boca Raton Regional Hospital are expected to decide by summer on a healthcare partner that will join forces with BRRH in its quest to become a pre-eminent academic tertiary referral center in the region.
The hospital announced the decision timetable in a news release last month, stating that Boca Hospital has pared its list of potential healthcare suitors to two.
Still in the running are Baptist Health South Florida and Cleveland Clinic. The three that were turned aside were: Memorial Healthcare System, Novant Health and Orlando Health.
From a total of 12 hopefuls who last year expressed an interest in connecting with the 51-year-old Boca hospital, the list was cut to five, and then, to the pair still in contention.
“Each of the five healthcare systems we selected to explore are impressive organizations that presented exciting and robust proposals,” said Jerry Fedele, president and CEO of Boca Regional.
“While each brought interesting and innovative ideas to the table, in the final analysis, we believe the two chosen presented offerings that were best suited to meet the goals and objectives the board established for the partnership.”
Those aims include enhancing Boca Regional’s ability to develop nationally recognized clinical programs to better serve the region, mitigate the challenges of a stand-alone organization in a complex and evolving healthcare industry and provide greater access to capital.
The hospital immediately began deliberations with the goal of making the final selection by summertime. Talks include participation by the hospital’s board, community leaders, medical staff and volunteers.
“When we embarked on this initiative, our goal was to implement a process that was deliberate, thoughtful and transparent,” said Dick Schmidt, former hospital board chair, noted civic leader in Boca Raton and chair of the partnership steering committee. “All of our key constituencies have had a voice in this critically important endeavor and will continue to do so as we bring it to conclusion.”
In June of 2017, BRRH established a steering committee to explore the possibility of entering into a strategic partnership with another healthcare provider.
Since then, the steering committee, working in conjunction with an outside consulting firm specializing in these matters, sought proposals from potential suitors and then evaluated them using a number of criteria deemed critically important to the hospital and the communities it serves.
The information has been shared with medical staff, employees, volunteers, philanthropists, community members, government and civic leaders.
Since that initiative was first announced, Boca Regional has emphasized that potential suitors would find the hospital an attractive partner, given its significant increases in market share and utilization, program and facility expansion, financial performance and record-setting philanthropic support in recent years.
“The candidates recognized the success we have achieved, and the important role we play in the community and the region as a top-tier, academic tertiary medical center,” noted Christine E. Lynn, board chair.
“Given the stature of those organizations, we find great satisfaction in knowing the regard in which we are held by some of the nation’s most formidable healthcare systems.”