Dive Brief:
- Beginning January 2016, North Shore-LIJ Health System — the parent company to health insurance services, 21 hospitals and doctors — will be known as Northwell Health.
- The name change is fueled by the company's growth beyond Long Island and into Manhattan and Brooklyn. Under a deal made while operating as North Shore-LIJ, a health insurance company was launched and grew through enrollment in Affordable Care Act exchanges and employer-sponsored health plans.
- The CEO said the name change, likely to cost "tens of millions of dollars," should help the company stand out in a very cluttered market.
Dive Insight:
The aggressive rebranding effort is designed to emphasize health and wellness as well as promote the full suite of offerings; long-term and at-home care, research, education and its hospitals and clinics. The name change is not new. North Shore Health System merged with Long Island Jewish Medical Center in 1997.
As the industry transforms, many healthcare operations are rebranding. But with that change, often comes the alienation of customers loyal to the original brand.
"Rebranding nullifies the previous brand and in some instances, can result in confusion or lack of brand recognition by consumers," Lisa McQuerrey told the Houston Chronicle. "If this happens, the rebranding effort is simultaneously expensive and detrimental to the original brand, which loses its equity and recognition."
