CHS Purchases Beacon Health Partners
Catholic Health Services of Long Island (CHS) announced it recently purchased the remaining 50% stake in Beacon Health Partners, a Westbury-based independent physician network, resulting in a 95.5% CHS and a 4.5% St. John’s Episcopal Hospital ownership. Last year, CHS and St. John’s, located in Far Rockaway, acquired a 50% stake in the company. Founded in 2010, Beacon currently comprises more than 200 practices and 670 affiliated physicians. The acquisition will allow CHS to consolidate the Beacon Independent Practice Association (IPA) with CHS’s existing Physician Hospital Organization (PHO) to create an expanded network of more than 1,100 physicians. Beacon participates in the Medicare Shared Savings Program (MSSP), as well as several pay-for-performance contracts, as an accountable care organization (ACO). In total, Beacon has approximately 100,000 individuals currently served under its population health program.
The new structure, known as CHS Beacon, will play an important role in the Delivery System Reform Incentive Program (DSRIP). CHS is partnering with both the Nassau/Queens and the Suffolk County Performing Provider Systems (PPS). Under DSRIP, CHS is charged with improving performance metrics, as well as long-term transformation and sustainability of health care for more than 200,000 beneficiaries for Medicaid. Also, CHS Beacon will assist with contracting for the physician partners with commercial payors such as Blue Cross Blue Shield, United, Oxford and Aetna, as well as Medicare and Medicaid Managed Care plans.
“We are delighted about this further expansion of Beacon,” said CHS President and CEO Alan D. Guerci, MD. “This extensive network will help deliver better care to patients and reduce hospital costs and readmissions.”
CHS’s Senior Vice President for Medical Affairs and Chief Medical Officer Patrick M. O’Shaughnessy, DO, commented, “A major focus of CHS Beacon in the upcoming months will be to consolidate and better coordinate our efforts in population health, care management and care navigation programs of CHS and Beacon Health Partners into one high-performing and efficient system.”
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