N17 W24100 Riverwood Drive, Waukesha
Industry: Health care
2014 annual revenue: $716 million
Waukesha-based ProHealth Care is doing its job to reduce health care costs for its patients. New, system-wide cost reduction and efficiency initiatives have helped drive the financial growth of the organization.
“All health care systems are working on this,” said Jeff Squire, chief corporate affairs officer at ProHealth Care. “We spent most of the calendar year 2014 working on a very specific initiative to re-work our processes to become a more efficient organization.”
The work identified more than $50 million in expendable costs across the organization.
“Everyone is looking for ways to do more with less,” Squire said. “For us, it was just a matter of the practice becoming more of a core discipline – to continuously look for ways to do things differently to drive costs down. The long term goal is to be able to pass those savings on to our patients.”
The organization achieved $716 million in total operating revenue in 2014, and is projecting $738 million in 2015.
In order to better serve its clientele, ProHealth Care has expanded to several new facilities in the region.
The organization is set to open a new emergency department in Mukwonago later this summer, and is also building a state-of-the-art cancer center in Pewaukee that will open its doors in August.
The cancer center is the centerpiece of a new, innovative collaboration among ProHealth Care, UW-Health and Aurora Health Care. ProHealth Care and UW Health have signed an agreement to co-manage the new center, and Aurora Health Care cancer specialists will deliver care in the facility. It’s the first step toward a more clinically integrated relationship among the organizations when it comes to cancer care, Squire said.
ProHealth Care, Aurora and UW-Health are also members of AboutHealth, a network of top performing health systems in Wisconsin that share common goals.
“There is a significant amount of energy and excitement around health care and these initiatives in Wisconsin,” Squire said. “ProHealth Care is committed to improving health care quality and delivery and lowering costs for patients. This partnership is an excellent way for us all to work together to achieve those goals.”