Informational Meeting on Agreement Between Memorial Medical Center and Marshfield Clinic Health System, Part 6
Wednesday, March 21st, 2018 -- 10:29 AM
-Memorial Medical Center held another informal meeting last week to provide more information on their recent deal with Marshfield Clinic Health System.Ryan Neville, CEO and President of MMC, explained some of the numbers that helped them realize the merger would be beneficial.
"We did a little bit of homework and here's a couple things I want to share with you. From a 3rd party analysis of our market share. When we look at market share, it's what percentage of people that use our facility. And ours is 40%. Which means 60% do not. So, we don't have the majority of markets share and Marshfield Clinic has the majority of that 60%. So, that was eye opening to us, meaning that an organization of our size in a community of our size, we only have 40% market share. Now, the reasons for that? Well, it could vary. One reason could be insurance. One reason could be we didn't do a good job with someone. One reason could be I work in Marshfield, so that's where I'm going to get my care."
"Second, when you look at Security Health Plan being the majority or the largest commercial insurer in Clark County, 41% of our revenue is dependent on a Security Health Plan product. And with Security Health Plan being a subsidiary of the Marshfield Clinic Health System, we knew that working with Marshfield Clinic and Security Health Plan was part of our future going forward."
"Three, we know that no matter what we do, we have to have specialists local. So, if we don't work closely with Marshfield, even in this arrangement or less, we're still going to have to battle bringing specialty care local for the foreseeable future. This helps us with that."
"Four, we want to make sure that whatever we do, we want to protect the jobs of our employees. We have 230 employees here. We only want to grow support for our local economy."
"And five, we kept going back to our community mission. And our community mission is to provide the best quality of healthcare one patient at a time. We'd love to say to be independent and provide the best quality of healthcare one patient at a time. But it's really to provide the best quality of healthcare one patient at a time."
Coming up on Thursday, Ryan will explain the final facts that helped them decide to sign a letter of intent with Marshfield Clinic.
In Case You Missed It:
Part 1: cwbradio.com/news/index.php?p=news&fn_incl=1&fn_mode=fullnews&fn_id=20866
Part 2: http://cwbradio.com/news/?fn_mode=fullnews&fn_id=20877
Part 3: http://cwbradio.com/news/index.php?p=news&fn_incl=1&fn_mode=fullnews&fn_id=20888
Part 4: http://cwbradio.com/news/index.php?p=news&fn_incl=1&fn_mode=fullnews&fn_id=20908
Part 5: http://cwbradio.com/news/?fn_mode=fullnews&fn_id=20922
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