AccentCare Strikes Joint Venture with Major Texas Health System
Fresh off entering the state of Mississippi for the first time, home health provider AccentCare has announced a new joint venture with a nonprofit health care system in Texas.
The JV will consolidate six AccentCare agencies with four from the health system, Baylor Scott & White. AccentCare will maintain a majority stake and manage all operations, AccentCare Marketing & Communications Director Jackie Lilley told Home Health Care News. The company did not disclose further financial details of the arrangement.
A name has not yet been chosen for the combined agencies, which will have about 3,000 patients on service, according to AccentCare. The Dallas-based company has more than 140 locations across 11 states, offering home health, hospice, and other post-acute services. Baylor Scott & White, also based in Dallas, is the largest nonprofit health system in Texas, with 48 hospitals and total assets of about $10.8 billion.
This arrangement is similar to one that AccentCare forged in 2015 with the University of California, San Diego Health System. That is no coincidence. With “value-based” health care frameworks increasingly paying for greater coordination across the continuum, partnering up with health systems is a winning play, AccentCare believes.
“We believe strongly in the value of strategic partnerships and are pursuing others currently,” Lilley said. “Organizations like AccentCare deliver the most meaningful clinical value when they are closely connected with health systems. We believe this is what our partners look for and what CMS [the Centers for Medicare & Medicaid Services] intends in its value-based initiatives.”
The JV is expected to be completed in the summer of 2017.
“AccentCare shares our commitment to innovative and compassionate patient care and brings significant home care experience to our collaboration,” said James H. Hinton, President and CEO of Baylor Scott & White Health, in a press release. “As health care delivery continues to evolve, this joint venture helps to ensure that high quality integrated care is available to our patients and their families in their homes.”
Written by Tim Mullaney