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Collaboration among different healthcare professionals consists of effective teamwork and communication that involves patients and families, and is based on a clear understanding of each others’ roles and responsibilities on the healthcare team, and a deep appreciation for the value that all professions bring to patient care. Yet it is still unclear how this collaboration works to influence patient health and wellness, especially for disadvantaged urban populations. This study sought to elucidate this phenomenon using both qualitative and quantitative methods. The qualitative component of the study employed the grounded theory approach to conduct 4 focus groups and 19 individual interviews with healthcare professionals who work with disadvantaged urban patients, to produce a conceptual model that explains the phenomenon of interest. In the quantitative component of the study, this model was converted into an online survey that was then administered to 150 healthcare professionals, so that it could be validated quantitatively with a larger number of people. Statistical regression methods were used to control for the influence of personal characteristics of the participants on their perception of the model. The study identified 114 qualitative themes, which were condensed into 10 theoretical categories (interprofessionalism, building trust, coordination, facilitating sharing, patient care, enhancing reciprocity, common goals, effecting change, healthcare system disparities, and patient individual, group or population disparities) that were further reduced to two theoretical concepts (social capital and disparities). The survey and regression analysis revealed that the extent to which healthcare professionals are satisfied with their careers is the most important factor that influences their perceptions of this model. Other important factors include the type of healthcare profession, gross annual income, and whether a healthcare professional had worked in patient care for at least 6 months. In conclusion, this study showed that social capital is the theoretical foundation for collaboration among healthcare professionals, patients and families, and it helps explains why collaboration works or does not work in different settings. Additional research using more objective data sources is needed to determine whether collaboration can truly impact patient health and system outcomes.