Newpoint advised the Shore Health System Board on an options process that would produce a strong outcome, and preserve the support of its local patient base. The conventional wisdom made it a given that Shore would merge with an excellent nearby system who had a keen interest in sweeping referrals from Shore. Keeping an open mind, the Board and medical staff leaders took a closer look at another excellent system with an AA bond rating, and recognized that because that System’s facilities were a bit more distant from Shore, it would have limited interest in maximizing referrals out of Shore, but instead would be more aligned with supporting growth right on the Eastern Shore. The Board surprised and pleased many onlookers, especially on the medical staff, by selecting Riverside Health as its partner, negotiating post-closing commitments to support local growth with capital investment and recruiting. Shore remains an independent 501(c)(3), signing a governance agreement to strengthen its access to the capital markets funding under Riverside’s AA rating. Riverside exceeded its contractual commitments by doubling its promised investment, building a new campus rather than renovating the existing 1970’s facility.
Longtime CEO, Joe Zager (now CEO of Riverside Shore Memorial Hospital), reviewed our performance as follows:
“We felt like (they) were always looking out for our best interests. They listened to us – relentlessly – and really heard the concerns of our physicians. Joe and Paul respected our proud history and the affection our community had, and still has, for their local hospital.”