Hospital Medical Practice Valuation, Health Care Financial Services

Posted on Monday, September 5th, 2011 at 5:32 am.

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Amednews:Two powerful competitors are declaring their intentions to affiliate with outside physician practices: Mayo Clinic and Cleveland Clinic.

They and other large, brand-name health systems have affiliated with local hospitals in recent years as one way to expand their reach and names. Despite their prominence, Mayo and Cleveland separately are seeking physician practices because they don’t want to be left behind as hospitals and physicians furiously ally as health system reform rolls out.

“There’s a lot of consolidation among health care groups as people try to predict what health care reform will mean,” said David L. Hayes, MD, a cardiologist and medical director of Mayo’s affiliated practice network. “The whole point for us is to grow strong relationships with other health care groups, other health care systems, that are of a similar mindset in terms of caring for the patient. We can help support them with clinical expertise and help the local practices stay strong.”

Neither Mayo nor Cleveland is interested in acquiring practices. Instead, they are seeking practices to pay subscription fees that will vary according to the terms of the deal and to meet clinical criteria. In exchange, the practices get to use the Mayo or Cleveland resources and name.

The organizations said they’re open to groups of all sizes but that they are more likely to affiliate with medium or large single-specialty groups. These groups already may be affiliated with other institutions in some way. As of yet, Mayo and Cleveland have not signed any partners or said when they will announce their first deals.