Ascension (company)

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Ascension
Non-profit organization
IndustryHealthcare
Headquarters,
Area served
North America
SubsidiariesCarondelet Health Network

Seton Healthcare Family St. John Providence Health System Saint Thomas Health St. Vincent's Health System Via Christi Health Wheaton Franciscan Healthcare Columbia-St.Mary's Ministry Health Presence Health St.John's Health System

Providence Health
Websiteascension.org

Ascension is the largest Catholic health system in the world[1] and the largest non-profit health system in the United States [2][3] with facilities in 23 states and the District of Columbia. It is a faith-based collaboration of hospitals, medical practices, and innovators that shares best practices and the objective of developing healthier communities throughout the United States by community outreach[4] and researching means of reducing the cost of healthcare.[5] The organization is headquartered within Greater St. Louis in the northwestern suburb of Edmundson, Missouri.

In its fiscal year ending 30 June 2014, Ascension provided $1.8 billion for programs that benefit communities and that care for indigents.[6] Subsidiaries of Ascension provide various services including health care delivery, physician practice management, venture capital investing, treasury management, biomedical engineering, clinical care management, information services, risk management, and contracting through Ascension’s own group purchasing organization.

History[edit]

Originally titled "Ascension Health", Ascension was founded on 1 November 1999 by the union of the Daughters of Charity National Health System, that was based in St. Louis, Missouri, and the Sisters of St. Joseph Health System, that was based in Nazareth (Kalamazoo), Michigan.[7] In December 2002, Carondelet Health System, that was based in St. Louis, Missouri, joined Ascension. In January 2012, Ascension Health began operating as a subsidiary with a new organizational structure under a new parent holding company titled "Ascension", which Anthony R. Tersigni, EdD, FACHE, former President and CEO of Ascension Health, led.[8] In 2012, Alexian Brothers Health System joined Ascension.[9] In 2013, Marian Health System joined Ascension.[10] According to IRS data from 2014, Ascension's Anthony R. Tersigni was the highest earning CEO of a not-for-profit hospital, earning $17,565,552.

Subsidiaries[edit]

1. Ascension Ministry Service Center (MSC): The Ascension Ministry Service Center works with Ascension process partners to provide services such as human resources, supply chain management, finance, and travel.[11]

2. Ascension Investment Management: Ascension Investment Management is an investment adviser for Ascension and non-Ascension clients, including Catholic and non-Catholic institutional investors with a focus on socially responsible investments.[12] In March 2012, Ascension Investment Management officially became a registered investment advisor with the US Securities and Exchange Commission (SEC).[13]

3. The Resource Group: The Resource Group is a contracting and purchasing subsidiary.

4. Ascension Risk Services: Ascension Risk Services manages traditional commercial and self-insured risk management functions and works throughout Ascension both to identify and manage emerging risks in an effort to transform and diversify Ascension’s ministries.

5. Ascension Technologies: Formerly Ascension Information Services (AIS): Ascension Technologies is a North American healthcare IT service company. AIS has over 2,400 employees[14] and works with Ascension’s affiliates to determine means to improve services, cut costs, and improve operating efficiencies within each ministry.[14][15]

6. Ascension Holdings: Ascension Holdings develops and manages services and solutions to increase the performance of Ascension, Catholic and faith-based health care, and the health care industry. Its portfolio includes TriMedx, LLC; TriMedx International; Medxcel Facilities Management; Axess Ultrasound; and eProtex.

7. Ascension Healthcare: Ascension Healthcare, based in St. Louis, Missouri, is the healthcare arm of Ascension, focusing on hospitals, outpatient centers, long-term care, senior care, home healthcare, and more.

8. Ascension Clinical Holdings: Ascension Clinical Holdings works to improve operational efficiency and decrease costs for providers throughout Ascension.

9. Ascension Global Mission: Ascension Global Mission was instituted to expand formally Ascension’s mission to developing nations. It aligns the Ascension ministry with the World Health Organization’s (WHO) Health System Strengthening Initiative Framework (HSSI Framework)[16] by collaborating with global and local partners in the communities it serves.

10. Ascension Ventures: Ascension Ventures is a strategic healthcare venture fund focused on the medical device, technology, and services sectors[17] with $550 million in assets under management.[18]

11. Ascension Care Management

References[edit]

  1. ^ "World's Largest Catholic Hospital System to Acquire Rochester Hills Hospital". MLive.com.
  2. ^ Molly Gamble. "15 Largest Nonprofit Health Systems - 2014". beckershospitalreview.com.
  3. ^ "Two N. Texas Nonprofit Systems among 30 Largest in America". D Healthcare Daily.
  4. ^ "Employees Connect to Ascension Health's Mission by Volunteering". chausa.org.
  5. ^ "Drug Price Hikes Impact Patient Care, Increase Hospital Costs". TheHill.
  6. ^ "Archived Copy" (PDF). Archived from the original (PDF) on 2015-06-16. Retrieved 2015-06-15.
  7. ^ Lee Enterprises. "How a St. Louis-Based Health Care System Became One of the Nation's Biggest". stltoday.com.
  8. ^ "Ascension Health Senior Care Names New CEO". St. Louis Business Journal. 13 February 2015.
  9. ^ "News - Alexian Brothers Health System - Alexian Brothers Health System". alexianbrothershealth.org.
  10. ^ HCPro, Inc. (7 July 2015). "Ascension Health Adds Marian Health System". healthleadersmedia.com.
  11. ^ "Jobs, Careers, HR, Supply Chain, Finance - Ascension Health Ministry Service Center Indianapolis". ascensionhealth.org.
  12. ^ Lee Enterprises. "Ascension Renames $26 Billion Money Management Unit". stltoday.com.
  13. ^ "SEC FORM D/A". sec.gov.
  14. ^ a b "Large Nonprofit Winner: Mike Oligschlaeger, Ascension Information Services". St. Louis Business Journal. 16 May 2014.
  15. ^ "Ascension Information Services (AIS)". ascensionhealth.org.
  16. ^ http://www.who.int/healthinfo/HSS_MandE_framework_Nov_2009.pdf
  17. ^ Paul Barr. "Ascension Venture Capital Unit Finding Value in Health Information Technology". hhnmag.com.
  18. ^ "Ascension's Anthony Tersigni on Accountability, Integrity". Modern Healthcare.