Business Roundup: Health System Buyers, Partnerships Sought
Wellmont's challenges are particularly acute in Upper East Tennessee and Southwest Virginia, a service area that grapples with low Medicare payments and a high volume of Medicaid and uninsured populations. In fiscal 2012, Wellmont had a community benefit of $94 million, which included $77 million in uncompensated care, as well as free programs and services provided to the community, and cash and in-kind donations to community groups. Making matters worse, Virginia and Tennessee have not expanded Medicaid coverage.
The Wellmont Board has created a special committee to assess its options.
Daughters of Charity Health System (CA) Seeks Buyer
Los Altos Hills, CA-based Daughters of Charity Health System has announced that it is soliciting proposals from Catholic, public, non-profit and for-profit organizations either to buy the system's individual hospitals or the entire health system.
DCHS President/CEO Robert Issai said in prepared remarks that the decision came after a long review of the options available to preserve services at the health system, which includes six hospitals located along coastal California from San Francisco to Los Angeles.
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