Fort Wayne-based Parkview Health this month established a business relationship with Hamilton-County-owned Riverview Health that includes consulting services and which could be expanded further in the future.
The relationship comes following at least two consecutive years of operating losses for Riverview and as Parkview Health rapidly builds its presence in Central Indiana. The Fort Wayne hospital system on Tuesday announced plans for a new $150 million hospital in Lebanon and last month announced a new $200 million hospital in West Lafayette.
“Riverview Health and Parkview Health have entered into an agreement under which Parkview began providing on August 1 strategic consulting services to Riverview in the areas of executive leadership and strategic initiatives,” the two hospital systems said in a joint statement emailed to the IBJ. “The parties are discussing other potential collaborations and services.”
“Riverview and Parkview are aligned in their missions and are committed to ensuring access to high-quality care for Hoosiers,” the statement continued. “Additional information about their collective efforts will be shared when those arrangements are finalized.”
Riverview Health had an operating loss of $16.1 million on total operating revenue of $720.1 million in 2023, according to the hospital’s most recent financial filings with the Indiana Department of Health. It had an operating loss of $11.3 million in 2022.
Riverview Health’s operations include a 156-bed hospital in Noblesville, a 16-bed hospital in Westfield, three additional combined ER and urgent care facilities and 10 primary care locations, according to the joint statement.
Parkview Health, a not-for-profit system, primarily serves northern Indiana and northwest Ohio. The system includes 15 hospitals and an extensive network of primary care and specialty care physicians.