Princeton HealthCare System may merge with another health care organization, chief executive officer Barry S. Rabner revealed to physicians in an email that was sent out last week.
Though PCHS, which moved from Witherspoon Street to Route 1 in Plainsboro three years ago, “is having one of the best years in its 96-year-history,” Rabner wrote, options are being explored due to significant changes expected in the areas of reimbursement, care delivery and coordination, information and clinical technology over the next two to five years.
“We are engaged in a thorough and thoughtful strategic planning process to determine how we can best remain a leading provider of healthcare services,” reads a statement issued by PHCS. “As part of this planning process, the Board of Trustees has decided to evaluate partnership options to determine if we could be most successful in addressing our patients’ and the community’s future needs if we partnered with another organization. We are now determining what type of partnership we might want and the criteria we will consider when evaluating potential partners. PHCS is committed to transparency and we will keep our community informed of our progress and welcome their input along the way.”
PCHS’ acute care hospital, University Medical Center of Princeton, was one of 40 across the country to be named High Performing for every procedure and medical condition for which it was rated in U.S. News & World Report’s Best Hospitals for Common Care ratings, according to the statement.
Mr. Rabner said, ““Princeton HealthCare System has achieved great success in large measure because of our commitment to the needs of our community and our ability to embrace change and think beyond who we are today to what we must do for our patients tomorrow. The decision to explore a potential partnership is one more step in our long-standing practice of planning, exploring options and initiating change for the good of our community.”
The hospital cost $522 million to build and has 231 single patient rooms spread over some 636,000 square feet. PCHS employs more than 3,000 and has 1,100 doctors on its staff.