BURLINGTON, Mass., March 20, 2014 /PRNewswire/ -- Decision Resources Group finds that competition for patients in the Springfield market is increasing with the acquisition of Cooley Dickinson Hospital by Massachusetts General Hospital, which is part of Partners HealthCare. Patients in Springfield have long been traveling to Boston, which draws patients from across the Northeast to its highly respected health systems. In Springfield, however, health systems are narrowing the gap in innovation and care coordination in an effort to keep local patients from leaving the market. Mass General responded by acquiring Cooley Dickinson to keep open the patient pipeline from Springfield to Boston.
Other key findings from the Springfield Market Overview report:
- Large physician hospital organizations and reimbursement reform that uses global payments for health plan contracts with providers are driving the formation of accountable care organizations (ACOs).
- Baystate Health System, the area's market driver, is planning to build on its market clout with the acquisition of 93-bed Palmer Wing Memorial Hospital.
- The state's Chapter 224 transparency regulations went into effect January 1, 2014. Under this law, insurers are required to release cost estimates of procedures and are using various mediums to relay the information.
Comments from Decision Resources Group Research Associate Louis Manning:
- "The increase in care coordination is designed to make local providers more attractive in an effort to keep patients from venturing to Boston for major procedures. Boston-based Mass General realized this effort and acquired Springfield-based Cooley Dickinson Hospital."
- "Hospitals and their respective physician hospital organizations have increased efforts in care coordination by developing ACOs and patient-centered medical homes."
About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. DRG insights and analysis on the U.S. managed care market are powered by HealthLeaders-InterStudy. Clients rely on this analysis and data to make informed decisions. Find out more at www.hl-isy.com and www.DecisionResourcesGroup.com.
All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.
For more information, contact:
Decision Resources Group
SOURCE Decision Resources Group