VALPARAISO | Local physicians will have the opportunity to invest in Porter County's new hospital and gain control of the board of trustees in the process, according to a provision in the draft copy of the purchase agreement.
Physicians with active medical staff privileges at the hospital would make up at least 60 percent of the board if the syndication option is exercised, according to the proposed agreement.
The dollar amount the physicians would have to invest to trigger the syndication would be up to the physicians and Triad Hospitals Inc., which is poised to take ownership of the county hospital, said Deb Butterfield, Porter hospital's vice president of marketing and media relations.
The proposed syndication would give physicians greater involvement and participation in operating the hospital, said Porter Chief Executive Officer Ron Winger.
Triad already has seven or eight hospital syndications in place and is looking to enact as many more, he said.
While Porter hospital has just two physicians on its nine-member board, the hospital has four joint ventures that involve investments by physicians. These include the Sleep Disorders Institute of Northwest Indiana and EndoLabs, which provides colonoscopy and gastroscopy services.
The hospital board's responsibilities would include granting medical staff privileges and when necessary, taking disciplinary action, according to the draft purchase agreement.
Winger said there are antitrust laws in place that would prevent a group of physicians from abusing their control of the board by attempting to exclude others from working at the hospital.
The hospital board of trustees also would be responsible for conducting periodic evaluations and selection of the chief executive officer, assuring medical staff compliance with accreditation requirements, identifying new services and educational opportunities and participating in business decisions.
Butterfield said the syndication provision has not been discussed with representatives of Community Health Systems. It recently announced plans to purchase Triad. Officials from those two companies were to meet behind closed doors Wednesday evening with members of the Porter hospital board and local task force that negotiated the hospital sale.
