VCU Health System finalizes acquisition of Riverside Tappahannock Hospital

Joseph B. Hash

VCU Well being System has lately accomplished its acquisition of Riverside Tappahannock Clinic, a 67-bed facility in the higher Middle Peninsula region of Virginia which is aspect of the broader Riverside Well being System. As aspect of the agreement finalized in October, quite a few similar solutions — diagnostics, physical […]

VCU Well being System has lately accomplished its acquisition of Riverside Tappahannock Clinic, a 67-bed facility in the higher Middle Peninsula region of Virginia which is aspect of the broader Riverside Well being System.

As aspect of the agreement finalized in October, quite a few similar solutions — diagnostics, physical therapy, the Riverside doctor techniques in Tappahannock, Warsaw, Aylett and Callao, as effectively as Tappahannock Urgent Care (MD Categorical) — will also come to be aspect of VCU Well being in 2021.

Economic terms of the deal had been not disclosed.

What is actually THE Affect

In a statement from VCU Well being, the methods managed that client care at the local degree will continue being intact, but will advantage from expanded solutions connecting men and women to gurus in specialised care at VCU Massey Cancer Heart, VCU Well being Pauley Coronary heart Heart and the VCU Healthcare Heart.

In that regard, the methods are promising greater entry to local solutions, with the hope that they will inevitably maximize preventive care, thus strengthening wellness outcomes. Dr. Tom Yackel, president of MCV Medical professionals, VCU Health’s faculty exercise, stated one more advantage will be seamless entry to Richmond-primarily based solutions, with a lot more streamlined care coordination involving local providers and specialists.

In accordance to Virginia Enterprise, Riversider staff will transition to VCU Well being System on July 1, remaining on Riverside’s payroll until that time.

Individuals will proceed getting ready to see their same medical professional, and about the subsequent quite a few months VCU expects to incorporate providers and techniques to maximize entry to care. Companies will accept the same insurance as just before the transition.

As aspect of the shift, VCU will adapt the Epic Digital Healthcare Document System, which is at the moment utilized by Riverside, to assist in continuity with client data. People today will be ready to see medical practitioners who focus in coronary heart wellness, cancer and transplants, and Yackel stated the medical center will incorporate a lot more solutions domestically, like a lot more speciality processes. Really specialised solutions this sort of as open-coronary heart surgical procedure or transplant will nevertheless come about at VCU Healthcare Heart in Richmond.

The group is at the moment operating with analysis clinicians to set up VCU Well being Tappahannock as a web-site for medical trials in the potential.

Riverside Well being System operates 5 acute care hospitals, like RTH, a behavioral wellness medical center and a doctor rehabilitation medical center. VCU Well being encompasses Virginia Commonwealth University’s wellness sciences academic courses, the VCU Massey Cancer Heart and the VCU Well being System, which involves the VCU Healthcare Heart, Local community Memorial Clinic, Kid’s Clinic of Richmond at VCU, MCV Medical professionals and Virginia Premier Well being Program.

THE Much larger Trend

So considerably this calendar year, health care merger and acquisition action has been down, mostly as a outcome of COVID-19. The 2nd quarter of 2020 noticed M&A action fall twenty% from the initial quarter and 34% when as opposed to Q2 of 2019, in accordance to Irving Levin Associates.

Not only had been there fewer mergers and acquisitions in Q2, but the ones that did come about had been well worth fewer than individuals in Q1 2020 and Q2 2019, in accordance to S&P Global Industry Intelligence. The mixture transaction benefit of the M&As in Q2 was $12.26 billion, as opposed to $29.31 billion in Q1, and $137.29 billion in the 2nd quarter of 2019.

Irrespective of Q2 getting the cheapest quarter as considerably as M&A action in 5 several years, analysts at Waller and Kaufman Corridor predict that the pent-up M&A action from the pandemic will “extremely probable” cause a surge of M&As relocating into 2021. They predict that M&As will be notably lively between small and independent hospitals hunting to husband or wife to keep afloat.

Twitter: @JELagasse
Electronic mail the writer: [email protected]

Next Post

EMBA experience: embracing change during coronavirus

Mary Fisher at the Countrywide Arts Club in New York © Pascal Perich One of the excellent items about an executive MBA is that it teaches you to search at a dilemma in many distinct strategies and what to prioritise. It requires you out of a dogmatic way of contemplating. […]

Subscribe US Now