Billings Clinic and RegionalCare Hospital Partners, a national hospital system, have announced a new joint venture that draws on the resources of both organizations.
The new relationship will provide multiple options for health care organizations in the northern Rockies region to become affiliated with the newly formed entity – Billings Clinic RegionalCare LLC.
This new relationship does not affect the governance or ownership of Billings Clinic or any of its current affiliate relationships across Montana and northern Wyoming, a news release said. The new arrangement offers potential partners expanded clinical services; access to physician integration, support, and recruitment; clinical protocols; and quality improvement systems.
Additionally, the new entity offers operational expertise and access to the capital needed for such growth strategies, including technology and facility expansion and renovation, the release said.
“Billings Clinic has a longstanding commitment to partnering with local communities to enhance access to quality health care. To build on this commitment, we have formed this relationship with RegionalCare in large part because of our shared values,” said Nicholas Wolter, chief executive officer of Billings Clinic. “This creates an additional opportunity for other organizations and communities that have an interest in exploring a relationship with Billings Clinic,” Wolter added.
Wolter and RegionalCare Executive Chairman Martin Rash noted that the joint venture fits with a national trend of excellent health systems like Billings Clinic working with national health care companies like RegionalCare to combine their expertise and capital.
“RegionalCare brings extensive management experience, along with physician recruitment strategies and access to capital at a time when many communities are in need of such assistance,” Wolter said.
“The ever-changing health care environment requires new and innovative approaches and alliances. Working together, Billings Clinic and RegionalCare can provide a path forward for organizations seeking collaborative solutions to the health care challenges of today and tomorrow,” Rash said.
Billings Clinic currently has partnerships with nine other hospitals and multiple branch and outreach clinics serving patients in Montana, Wyoming and the western Dakotas. RegionalCare Hospital Partners is a system of full-service community hospitals in non-urban markets across the country.