Joe Burns
The Franklin Memorial Hospital in Farmington, Maine, opened a new chapter in its almost 100-year history last month, when it became part of MaineHealth, the state's largest health system. Revenue declines forced the hospital to seek a strategic partner, the organization's CFO acknowledged.
When large hospitals and health systems buy or affiliate with smaller facilities, the deals can benefit both parties.
When large hospitals and health systems buy or affiliate with smaller facilities, the deals can benefit both parties, but these deals may not work well if costs are out of control.
James E. Crissey watched the election returns closely on May 20. President and CEO of the Southern Regional Medical Center in Riverdale, Ga., Crissey had a vested interest in a ballot measure in Clayton County that included a financing option for the medical center.
Many small, rural hospitals have struggled financially in recent years. But one critical access facility in Nebraska has discovered a means to financial stability and beyond.
How do hospitals survive if they keep patients healthy and at home? For New Hampshire’s New London Hospital, the answer is to partner with the largest hospital in the state to keep costs low and possibly boost patient volume.
Hospitals in Georgia have struggled financially in recent years, as uncompensated care costs rose after the recession and the state rejected Medicaid expansion. But one standalone facility decided that affiliation and clinical integration might be the right path to stave off closure.
In a challenging financial climate, hospitals of all sizes are looking for partners.
The recent ruling in the case of ProMedica Health System vs. the Federal Trade Commission offers two key lessons for CFOs about how hospitals and health systems should proceed with mergers or acquisitions: Make sure any deal serves to keep costs low and competition high.
Hospitals of all sizes are looking for partners. But the quest to increase market share by acquiring physician groups or other hospitals is drawing critical analysis from regulators, particularly if a merger results in eliminating a competitor.