Boca Raton Regional will retain its independence and there are “no financial structures” to the agreement, the spokesman said. Instead, the organizations will jointly form clinical and research programs under an initial three-year term.
Like many independent hospitals, Boca Raton's board had recently conducted a review of its operations, but decided to pursue partnerships rather than putting itself up for sale.
The two parties also will have opportunities to collaborate in other ways, a news release said. Boca Raton Regional, for instance, will be able to learn from the larger system's experiences in transitioning to population health management and risk- and performance-based payment contracts.
For North Shore-LIJ, the affiliation allows it to retain a connection to many of its current patients who spend their winters in Palm Beach and Broward County.
“Establishing this new relationship will lead to better continuity of care for patients who rely on both providers for their care,” Dr. Michael Dowling, North Shore-LIJ's president and CEO, said in the release.
Follow Beth Kutscher on Twitter: @MHbkutscher