'Enhancing the patient experience': Summa responds to criticisms of proposed sale
Summa Health is defending its decision to pursue a sale and dispelling fears that the deal could result in the hospital system sacrificing quality of care for higher profits.
At Monday's council meeting, Ward 8 Councilman James Hardy publicly called for Summa to pause its sale to Health Assurance Transformation Corp., a new health care company owned by one of America's largest venture capital firms, General Catalyst.
Summa spokesman Mike Bernstein responded to the concerns in an email the Beacon Journal.
"While HATCo is part of a venture capital firm, it isn't structured as a typical venture fund," Bernstein said. "We believe that in HATCo we have found a truly strategic partner that is committed to our model and the culture that has driven Summa Health’s success."
He explained that HATCo is structured to deliver continuing investment in technology, innovation and services that generate fresh revenue and push the hospital in a sustainable direction, improving local delivery of care in the process.
Bernstein stressed that HATCo isn't trying to "realize gains through cost cuts and increases in volume-based revenue."
"In addition," Bernstein said, "becoming part of HATCo positions our leadership, providers and employees for continued success and will build on and enhance the quality of care provided to our patients in the Greater Akron region and across Northeast Ohio. The HATCo promise of Health Assurance mirrors our promise to always provide everyone we serve with access to quality care.
"One of the aspects that makes this relationship so unique and exciting is our shared commitment to work together to define a plan that truly transforms and improves how care is delivered."
He said HATCo's experience in health care, combined with a knowledgeable leadership team, provides a well of "expertise in innovation" from which Summa can draw.
Summa also will benefit from more efficient operations, he said.
"Doing so will allow us to continue achieving our plans for growth and enhancing the patient experience across the organization," said Bernstein.
Gathering community input
Bernstein didn't directly answer a question about how Summa feels about pausing the sale to gather community feedback, though he did say that the system's leadership and board — comprised, he said, of members of the communities Summa serves and its medical staff —are "focused on opportunities that will ensure the growth of our health system and help Summa build upon our current strengths and enhance our organization."
He reiterated that Summa believes that HATCo shares its vision, adding that the immediate investment into the health system will generate short-term benefits to the organization and those that Summa Health serves, but also a long-term sustainable model, guaranteeing Summa's presence in Akron for generations.
"We're now going into due diligence," Bernstein wrote, "with a strong focus on defining the specific path forward. We're looking forward to this important work and sharing additional details as they become available."
Contact reporter Derek Kreider at DKreider@Gannett.com or 330-541-9413
This article originally appeared on Akron Beacon Journal: Summa responds to criticism of proposed sale to venture capital firm
