The alliance will enhance clinical offerings, research opportunities and technological advances, according to a joint statement, with a core focus on value-based care.
“Partnering with Mount Sinai to provide enhanced value-based care to patients in their communities will ensure they enjoy long-term care improvements,” Michael Maron, CEO and president of Holy Name, said in the statement.
“Many hospital collaborations have faltered because of unclear goals. We are different. Holy Name and Mount Sinai share identical goals, and will significantly improve the health outcomes for patients in northern New Jersey as a result.”
The two entities are still conducting joint strategy meetings to better understand how the relationship can benefit both the New York City and Bergen County communities.
“We look forward to working with Holy Name’s leadership as we continue to strategically grow Mount Sinai affiliations,” Mount Sinai President Arthur Klein said.
“Their commitment to excellence and to their community provides a strong foundation for our relationship.”
Teaneck-based Holy Name remains one of a handful of independent hospitals in New Jersey, although it has established several partnerships and alliances with hospitals and health systems in the state.
The announcement marks the third major New York City system affiliation in New Jersey. Valley Health System created a partnership in 2014, and Hackensack Meridian Health and Memorial Sloan Kettering partnered recently.