Business Roundup: Healthcare M&A Activity Brisk
Headquartered in Phoenix, Banner Health is one of the largest non-profit health care systems in the country. The system operates in seven states with assets that include 23 acute-care hospitals, the Banner Health Network, Banner Medical Group, long-term care centers, outpatient surgery centers, and an array of other services.
WellMont Health Weighs Its Options
Kingsport, TN-based Wellmont Health System has begun an evaluation of its strategic options, which executives say may include aligning with another health system.
Wellmont CEO Denny DeNarvaez said health systems across the country are preparing for increasing demands for upgrading information technology, quality mandates, and population health management in an environment of low inpatient volumes, reimbursement cuts, and potential performance penalties under the Patient Protection and Affordable Care Act.
DeNarvaez says the seven Wellmont hospitals serving Northeast Tennessee and Southwest Virginia face a litany of challenges because of extremely low Medicare payment rates and the high volume of Medicaid and uninsured populations, and the recent decisions by state the governors of Virginia and Tennessee not to expand Medicaid.
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