This year, Cortland Regional Medical Center celebrates its 125th year of
continuous service to the city of Cortland and its surrounding communities.
In an effort to secure a bright future for the medical center, Cortland
Regional’s Board of Trustees has voted to begin exploring corporate
affiliation opportunities with other healthcare systems.
Dramatic shifts in Medicare and Medicaid reimbursement rates, healthcare
reform, increased regulations, and steady Federal and State pressure on
healthcare systems to consolidate and collaborate have created an extremely
challenging environment for hospitals across the country, especially independent
community hospitals. “With these challenges and pressures facing
all hospitals in our region, it makes good business sense for Cortland
Regional to consider the possibility of partnering with another healthcare
system in the future,” says Mark Webster, President and CEO.
The Centers for Medicare and Medicaid Services has designated Cortland
Regional a sole community hospital providing vital access to healthcare
for more than 74,000 people, and the medical center is currently well
positioned for any potential partnership negotiations. Over the past three
years, it has rapidly expanded its service offerings, including opening
a new wound care center and state-of-the-art endoscopy suite and hiring
25 physicians and 10 advanced practice professionals from 17 different
specialties to provide access to expert care right in Cortland. Cortland
Regional has also received regional and national recognitions for its
patient safety and quality of care, and last fall it was named the top
hospital in New York State and 50th in the country by the Federal government based on quality, patient satisfaction,
and low cost.
“All these attributes make us a very attractive organization for
other healthcare systems to collaborate with. We will look for potential
partners with a compatible mission, vision, and values and like-minded
organizations that demonstrate a commitment to investing in the long-term
healthcare needs of the greater Cortland area,” says William Pomeroy,
Esq., Chairman of the Board of Trustees.
Cortland Regional’s Board of Trustees has hired a strategic healthcare
consulting firm, Veralon, to assist in evaluating the variety of affiliation
scenarios available and to assess the cultural and operational fit of
each organization interested in affiliation. A detailed, confidential
Request for Proposal (RFP) is under development that will outline clear
goals and objectives for any potential partnership. This formal RFP will
be issued in December 2016, and 10 or more healthcare organizations throughout
NY and PA will be invited to express their interest at that time. The
Board of Trustees anticipates identifying potential finalists by the 2nd quarter of 2017.
“The ultimate goal of any affiliation will be to strengthen our medical
center and to fulfill our mission of providing even better access to high-quality,
affordable healthcare for our community -- now and for generations to
come,” says Pomeroy. “We are inspired by the many opportunities
and potential benefits a future affiliation could bring to Cortland Regional
Medical Center, and we’re confident that we have the right leadership
and support to make any future partnership a success.”