Patient-Centered Ambulatory Model to Expand Access, Increase Efficiency
King of Prussia, Pa. and Westchester, Ill. (October 29, 2019) — Universal Health Services, Inc. (NYSE: UHS) and Regent Surgical Health (Regent) announced today the signing of a definitive agreement to form a national partnership. The new joint venture entity will build and operate Ambulatory Surgery Centers (ASCs), providing patients with convenient access to new high quality outpatient surgical services in served markets, and providing physician practices with more efficient outpatient locations to perform appropriate procedures.
“The partnership with Regent enables UHS to further expand its ambulatory capabilities bringing the right care to the right consumer at the right location,” said Marvin Pember, Executive Vice President and President, Acute Care Division, Universal Health Services. “Over the last 40 years, UHS has established and expanded its substantial leadership position in the acute care hospital space. Our dedication to delivering clinical excellence sets us apart in the communities we serve. Being a leader means providing the highest quality care every day. By engaging with Regent, we further extend that commitment to patients through Ambulatory Surgery Centers.”
Ambulatory surgery centers are at the center of today’s most pressing healthcare initiatives including value-based care and risk-sharing payment models. Regent will partner with UHS to develop and deliver a transformative ambulatory strategy that improves both quality of care and bottom-line results. In operating the centers, the Regent model leverages its best practices across all key functions, including staff recruitment and retention, training, physician recruitment, surgeon and patient satisfaction, clinical oversight, payer contracting, supply chain, case costing, revenue cycle and marketing.
“We continually innovate and enhance the ASC model to ensure success in the changing healthcare market conditions,” states Chris Bishop, CEO of Regent. “Our operating model has realized a material increase in both patient and surgeon satisfaction scores, due in large part to improved efficiency of operations and clinical focus. It’s a privilege to partner with UHS, sharing a common vision to drive innovation and transformation in healthcare.”
About Universal Health Services
One of the nation's largest and most respected providers of hospital and healthcare services, Universal Health Services, Inc. (NYSE: UHS) has built an impressive record of achievement and performance. Growing steadily since its inception into an esteemed Fortune 500 corporation, UHS today has annual revenue of approximately $11 billion. In 2019, UHS was again recognized as one of the World’s Most Admired Companies by Fortune; ranked #293 on the Fortune 500; and in 2017, listed #275 in Forbes inaugural ranking of America’s Top 500 Public Companies.
Our operating philosophy is as effective today as it was 40 years ago, enabling us to provide compassionate care to our patients and their loved ones: Build or acquire high quality hospitals in rapidly growing markets, invest in the people and equipment needed to allow each facility to thrive, and become the leading healthcare provider in each community we serve.
Headquartered in King of Prussia, PA, UHS has more than 87,000 employees and through its subsidiaries operates 354 inpatient acute care hospitals and behavioral health facilities, 40 outpatient facilities and ambulatory care access points, an insurance offering, a physician network and various related services located in 37 states, Washington, D.C., Puerto Rico and the United Kingdom. For additional information on the Company, visit our web site: www.uhsinc.com.
About Regent Surgical Health
Regent Surgical Health is among the nation’s leading surgery center management and development companies, and the largest private organization operating physician/hospital ASC joint venture partnerships. Regent has an unmatched record for delivering sustainable profitability while enabling physician partners to maintain clinical autonomy and financial control. The company invests capital side-by-side with hospital and physician partners, and firmly believes the by-product of excellent care and efficiency delivers great value to the community.
Founded in 2001, Regent Surgical Health currently owns or operates 26 U.S. facilities, 21 hospital joint ventures, 14 total joint replacement centers, and three bundled payment entities. Regent has more than 600 credentialed surgeons conducting more than 70,000 procedures annually.
To learn more about Regent Surgical Health and other physician/hospital alliance opportunities, visit www.regentsurgicalhealth.com.