AG's office oversees BRMC hearing
Published on February 25th, 1998
STONEHAM, MA - The Boston Regional Medical Center's (BRMC) proposed joint venture with Doctors Corporation of America (DCA) was summarized for the Board of Selectmen on Tuesday night as a prelude to the public hearing scheduled with Attorney General Scott Harshbargar's office at the Town Hall on Thursday.
Dr. Charles Ricks, president and CEO of BRMC, presented the Board with a summary of the venture and its impact on the hospital, the town of Stoneham and on the community it serves.
Ricks called the venture, with the Arizona-based organization, an important one for BRMC which began seeking, in May of 1997, a financial partner who would help the hospital con-tinue to compete in the increasingly volatile healthcare marketplace.
The right partner, according to Ricks, was determined to be one that would support the BRMC's mission of ministering "...to the physical, mental and spiritual needs of those who seek our services and to help improve the quality of life in the communities we serve."
In addition, the partnership must also support the affiliation the hospital has enjoyed, since March of 1997, with Lahey Hitchcock Clinic, an enterprise Ricks referred to as likewise "physician driven," and which is the largest managed care facility in the area.
DCA was chosen for a number of reasons, including respect for these two conditions as well as for its understanding and experience with Adventist health care, with two of its senior management members experienced in this field. DCA also agreed to meet the financial needs of BRMC while committing to maintaining and enhancing BRMC's services.
With DCA a for-profit organization, and BRMC a not-for-profit one, the proposal calls for DCA ownership of 80 percent, with BRMC owning the remaining 20 percent.
Ricks also called the joint venture a plus for the town of Stoneham.
While BRMC has provided the town with various donations in the past, the impact of hav-ing 80 percent ownership by a for-profit enterprise will contribute more significantly to the town through tax payments.
Ricks also stated that the BRMC would also continue to enhance its campus, just as it has with recent additions such as the Life Care Center, opened last summer as well as the Transi-tional Care Unit. A proposed 120-unit senior living apartment complex is also being consid-ered.
Ricks encouraged the Selectmen to attend the hearing, in the Town Hall, with formal pres-entations by representatives of BRMC and DCA as well as testimony by state and local offi-cials in the first session from 4 to 6 p.m.
The second session, beginning at 7 p.m., will summarize the afternoon presentations and will include a general question and answer session with the public.
Selectmen Chairman Albert Conti expressed his appreciation to Ricks for his presentation, stating "you've always done exemplary work down there...our support goes out to you."
The Board voted to compose a letter of support of the venture for Thursday's meeting.
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