Randolph Hospital Enters into a Management Services Agreement with Cone Health
Randolph Hospital has entered into a management services agreement with Cone Health. Under the agreement the Asheboro, North Carolina, hospital will remain independently owned and governed by its current board of directors. The management agreement becomes effective June 1st.
Randolph Hospital has long believed that collaborating
with others is the best way to provide health care services of the highest quality, service and value to the region.
“We have long standing partnerships with providers and other organizations, including Cone Health. With the approval of a bold strategic plan last summer and the continuing rapid transformation of the health care industry, it is clear that an even deeper partnership with a larger health system is the most effective way for Randolph to be the health system we want and need to be for the people we serve, long into the future,” says Randolph Hospital Board of Directors Chairman Mac Pugh.
A management services agreement will allow Randolph Hospital to leverage the size, scale and subject matter expertise found in a larger health system, while still maintaining local ownership and board governance. This partnership enables Randolph Hospital to take what is already a broad array of services delivered with compassion, excellent quality, and low cost, and become even better for the communities it serves.
“The relationship is a natural fit for both of our organizations,” says Cone Health CEO Terry Akin. “This management services agreement will strengthen the already established relationships between Randolph Hospital and Cone Health and with the physician community in Randolph County. This will help both of our systems keep people healthier throughout our region, which is our shared goal.”
Through this partnership with Cone Health, Randolph Hospital will have increased access to best practices and subject matter expertise in a variety of areas that a health system the size of Randolph Hospital simply cannot include in its staffing model. It will enable Randolph Hospital to move even faster in the transition from an organization which primarily takes care of the sick to one which has an equal desire and responsibility to keep the people in this region healthy. Finally, this management services agreement creates economies of scale that will allow Randolph Hospital to continue to invest in its employees, facilities, equipment and the development of new services for the region it serves.
“Cone Health is the right management partner for us. We already have long standing and successful partnerships together, such as the Randolph Cancer Center. We share the same values and are equally committed to serving our respective communities. We both believe in excellence and continuous improvement in quality, service and cost. And we are both committed to being leaders in health care transformation,” says Randolph Hospital CEO Steve Eblin.
“This is an exciting time for our health system and the communities we serve. We have chosen a partnership model and a partner that will allow us to achieve so much, some of which we probably can’t even envision today,” says Pugh.