Saint Thomas Health Services executives have signed a joint venture agreement with Birmingham, Ala.-based ContinuumRx, a home infusion pharmacy company, according to a statement released today from ContinuumRx officials.
"As new healthcare delivery models take shape, there is increasing interest from hospitals to own, or be more closely aligned with, their pre- and post-acute service providers," said Brian Booth, a ContinuumRx senior vice president. "Our joint venture model is a very attractive option for healthcare systems seeking the clinical, operational, and financial benefits of having their own home infusion service to offer but without the start-up risks and day-to-day management responsibilities of doing it themselves."
It’s not clear how the JV is structured or what, if any, impact this agreement will have on structures the hospital now has in place. Officials at Saint Thomas could not be reached for comment late Wednesday.
Saint Thomas was one of three health systems that have recently agreed to use ContinuumRx’s hospital-to-home services. Erlanger Health Systems in Chattanooga and Huntsville Hospital Systems in Huntsville, Ala., also have signed on.
The partnership with ContinuumRx adds to Saint Thomas' array of services beyond its four core hospitals. The system, which employs more than 6,500 people, also runs networks of clinics for sports medicine and other treatments and has allied its chest pain group with more than a dozen regional health systems.