name one healthcare organization that uses the joint operating agreement partnership

Expert Solution

The Joint Operating Company is a legal structure that carries joint operation of services and business activities among hospitals that are not owned jointly. It allows participating hospitals or healthcare organizations to retain separate boards of directors but its managerial functions have separate entity. The JOC sometimes may also refer as a virtual merger.

A Joint Operating Company is formed in accordance to the JOA terms and conditions, which is in form of formal legal agreement defining the terms and conditions of the combined operations. It is used to integrate operations without transferring assets. The legal agreement sets upcoming financial relationships of the parties or organizations and distribution of profits and losses as well.

One of the healthcare organization that uses the joint operating agreement partnership is The MidMichigan Health (University of Michigan Health System). The MidMichigan Health sold an equity interest to University of Michigan. The healthcare organization which are in joint operating agreement are required to know the structural characteristics, Tax exemption and Antitrust issues.

Nightingale answered 1 year ago

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