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Cleveland Clinic CEO Toby Cosgrove on how the clinic’s partnership with Community Health Systems helps the organization as well as care.
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-- -- -- health care I want you to listen to this one when it comes to prestigious medical centers the Cleveland clinic right there on the coast of went -- Is tops and it is forging an alliance with big for profit hospital operator community health system some now.
The Cleveland clinic doctor Eric is -- and its stellar reputation level of care is exploding all over the map.
Toby Cosgrove Cleveland clinic CEO -- president joining me now.
He's -- Fox Business exclusive from Cleveland to talk about this partnership with CYH which by the way up 43%.
So that's stock.
Today is also hitting a new highs so it's done very well but now -- has the glow of utopia -- Cleveland clinic.
Well we're very excited about this -- we think this is a great opportunity as you know everyone's trying to produce better value for your health care dollar.
And we've got two very different organizations.
Coming together here.
Cleveland clinic well known for its high quality.
And activity health system well known for its efficient driving.
And management of hospitals.
And we think the two of numbering more value to our ability to drive.
Value free health care dollar and we see great synergy between these two organizations and we're very enthusiastic about this opportunity.
Okay let's talk about this because -- -- a patient and I have a choice of either -- -- all the way to Cleveland to go to the Cleveland clinic if if there were no flight.
I would go there may be vs -- not to not to say anything negative about local hospitals but.
Now these local hospitals with C -- -- really an opportunity I guess because its success by association not guilt by association what will -- now get.
At that hospital that has the partnership with you guys that feels more like the Cleveland clinic.
Well we wanna start -- small things and begin to build on those are our expertise in my heart and vascular is well known.
And so we're going to start out there and after I've tried to look at ways that we can.
Enhance.
They already good quality the I think community health system cardiac -- -- and then we will look at other programs as we go forward.
We think there's more and more synergies and the more we talk to them more opportunities we see between the two organizations.
Okay what's new -- -- to the patient world that that specifically use of cardiac and health but how about doctors are you going to be.
At least maybe having visiting doctors now I'm making up ideas here but you tell me what it's gonna be like.
Well -- what we think is there as we begin to measure quality and -- begin to look at and ninety specific away.
We can raise the level of equality of that performance all the way across the board -- -- you know Liz.
Equality is really measured in three ways it's the clinical performance it's also the physical and the emotional aspect of and we have talked about all of these things.
About how we could begin to share.
Our learnings over the last several years now -- organizations across the United States and happily we found a partner -- interest in doing this.
Now what will you be watching their outcomes to see if they become more successful when it comes to patients and and of course you don't want re admissions within thirty days due to complications what -- you -- -- -- you gonna make sure that.
The quality is not just -- we're lending -- name of the Cleveland clinic to these companies a -- First of all is -- -- not paying down putting the name of Cleveland clinic on these hospitals right well we're we're doing is we're working with them and they haven't -- good quality metrics right now we're hoping to continue to refine those metrics into.
Standardize as we go forward and we're also hoping to developed care pass.
Which will decrease the variation and health care treatments across this entire -- So -- conundrum will there be any branding of Cleveland clinic at all in CY eight hospitals.
-- there will not be branding on these hospitals to start with -- we don't know where this is gonna go over time this is -- Infancy of a relationship which -- is going to be a long and successful one we're sure.
And is we can't begin to tell us where it's gonna go that we're starting and where is -- determination.
To make this -- relationship work.
Well well let you know the Mayo Clinic has done this MD Anderson cancer clinic has done this have -- is this exclusive to -- -- -- We'll start you open to do other partnerships with other hospital company.
We area and our only going to do -- this for profit organization we're certainly open to do for other not for profit.
-- take one last question Paul Ryan.
Is a floating his new budget on behalf of the GOP and he has been very clear that he -- the affordable health care law repealed.
This is big news today I'd be remiss if I didn't ask you what would that do -- suddenly -- year at least aware of one level playing of one playing field.
And then it gets switched if this were to be repealed without harm your look going forward how would you feel about that.
Well I really don't think it makes any difference we know that the train -- RE left the station we have to reduce the cost of health care we have to improve the quality of health care.
-- that's going to happen by.
Beginning to have these sorts of relationships of hospitals and doctors -- hospitals across the country.
So -- we really are determined that we will improve the value of health care.
And it's necessary for the country to bring cost down.
Toby Cosgrove Cleveland clinic CEO and president on the new relationship with CYH the Community Health Systems which is hitting.
A 52 week high on behalf of the news of the partnership thank you doctor for cover not with -- exclusively nice dodge dealers at a time closing.
