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Magazine Article
Foreign ventures help academic systems boost brand, revenue
2017
Overview
Launching services in foreign countries also presents challenges, requiring robust amounts of investment, planning and manpower to execute successfully. [...]the international arena is still largely the domain of prestigious, multibillion-dollar academic health systems. Cleveland Clinic has been a player on the international scene for well over a decade and its success is largely influenced by the status it holds in the U.S. Most of its foreign partners want to learn from the best, and the clinic has trademarked itself as one of them. The majority of citizens don't have the financial means to travel and need better access to services close to their home. Since opening two years ago, the Abu Dhabi hospital has become a preferred destination for people across the Middle East, Glass said. Under the agreement, UCLA Health will provide a business plan to Chinese developer R&F Properties that outlines the design of the building, best practices in hiring physicians and staff, and quality policies. A team of about 30 UCLA staff members, including the chief medical officer and chief nursing officer, are also weighing in on the plan. THE TAKEAWAY Big academic medical centers have found partnerships overseas allow them to enhance their brand awareness and provide an added source of revenue.
Publisher
Crain Communications, Inc,Crain Communications, Incorporated
