Skaggs will Partner with CoxHealthTrustees Unanimously Affirms, 98-0, the Board of Director’s Recommendation
The Skaggs Regional Medical Center Board of Trustees has approved the Board of Directors’ recommendation to strategically partner with CoxHealth. This is a significant accomplishment for both healthcare systems, setting in motion progression and stability of healthcare for the Branson Tri-Lakes region.
Under the agreement, a member substitution model, Skaggs continues to maintain its own hospital board while becoming a subsidiary of CoxHealth. CoxHealth, as the parent company, assumes the responsibilities previously held by the Skaggs Board of Trustees. Additionally, CoxHealth will have representation on the Skaggs Board and Skaggs will have representation on the CoxHealth Board. This allows both parties to act together as one entity for the purposes of contracting, recruitment and growth.
“The Skaggs Board of Directors is pleased that the Board of Trustees recognizes the advantages that come from collaboration with CoxHealth,” says David Smith, Chairman of the Skaggs Board of Directors. “The board’s growth strategy focuses on developing necessary components and relationships, resulting in coordinated care and reduced cost. We are certain CoxHealth is the right partner to help maintain and grow healthcare for our area residents.”
In January, Skaggs issued a Request for Proposals (RFP) seeking a strategic partner for the future. The field was narrowed to two potential partners, locally-owned and governed not-for-profit CoxHealth, based in Springfield, Mo., and LifePoint, a for-profit healthcare system based in Brentwood, Tenn. In June, the Skaggs Board of Directors signed a letter of intent with CoxHealth. Leadership from both organizations worked closely together to review operational practices in preparation for its formal recommendation to the Skaggs Board of Trustees for a final vote.
“We are humbled by this decision, and by the faith Skaggs’ Board of Trustees has shown in selecting CoxHealth as the partner to help secure the future of their organization,” says Steven D. Edwards, President and CEO of CoxHealth. “We look forward to investing in technology, facilities, employees and physicians to bolster the healthcare resources available to residents of the Branson Tri-Lakes region. Our health systems will now stand strong together for the good of the communities we serve throughout the Ozarks.”
“On behalf of the CoxHealth Board of Directors, we are grateful to the Skaggs Board and Trustees for their decision to partner with us to provide quality healthcare to the people of the Branson Tri-Lakes region,” said Larry Lipscomb, Chairman of the CoxHealth Board of Directors.
Skaggs President and CEO William K. Mahoney said, “This is an exciting time in healthcare for the Taney and Stone county communities. Physical changes to the existing hospital are expected to begin in the first half of 2013 with a pronounced focus on recruiting additional physicians to serve the Branson Tri-Lakes region.”
The partnership will provide Skaggs’ 1,100 employees security and stability, adds Edwards. “We value the engaged and committed medical staff and employees who have made Skaggs the vital institution it is today,” Edwards says.
The agreement is anticipated to be complete by Dec. 31, 2012. CoxHealth and Skaggs officials will then begin integrating operations.
Skaggs Regional Medical Center is a 165-licensed bed community-owned and supported healthcare facility dedicated to improving the health of all area residents. Skaggs holds the highest national accreditation available for medical facilities from the Joint Commission on Accreditation of Healthcare Organizations. Skaggs has also earned the Gold Seal of Approval™ for its advanced inpatient diabetes care and is an Advanced Primary Stroke Center through the Joint Commission on Accreditation.
CoxHealth, recently named as a Best Hospital by U.S. News & World Report, is accredited by The Joint Commission and distinguished as one of the nation’s Top 100 Integrated Healthcare Systems (2006-2012). Established in 1906 and based in Springfield, Mo., CoxHealth serves more than 1 million people in a 22-county service area in southwest Missouri and northwest Arkansas. Their comprehensive array of primary and specialty care includes four hospitals and more than 65 physician clinics in 20 communities. The health system includes Oxford HealthCare (a home health agency), Home Parenteral Services (home infusion therapy), CoxHealth Foundation, Cox College, Cox Family Medicine Residency Program and much more.