Kootenai Health is on track to complete its conversion to a nonprofit by the end of the year, officials said Wednesday.
Trustees voted in May to assume the operations of Kootenai Health, Inc., a nonprofit organization. Since, hospital district staff and outside advisers have worked to implement transition plans, including employee benefits conversions and financial asset migration.
"Despite significant volatility, gains during this fiscal year help offset the $90 million loss last year and provide optimism for future growth," CFO Lawrence Furnstahl told the board.
Eli Lilly & Co. became the world’s biggest health-care company by market value, surging ahead of health insurance giant UnitedHealth Group Inc. The drugmaker gained 0.9% on Wednesday, extending its advance after four straight months of gains while adding more than $94 billion to its value this year.
“I did not come here for the hospital to close,” said Stan McLaren, who in 2021 became CEO of Carney Hospital in Dorchester. “I haven’t heard anything from corporate about plans to close Carney.” McLaren was referring to Carney’s owner, Steward Health Care. Concerns about the hospital’s future surfaced when its four-year union contract with Carney nurses expired in December.
Medicaid members who use Anthem Blue Cross Blue Shield for insurance can continue to receive care at Bon Secours Mercy Health hospitals in Ohio under a 90-day transitional "understanding" between the two parties.
A terminated contract between the two expired early Saturday without renewal, but representatives from Mercy Health and Anthem both say those affected can still get care without any disruptions, for now.
Baptist Health South Florida, the region’s largest healthcare provider, intends to trim its executive ranks through voluntary buyouts in order to reduce the nonprofit organization’s expenses during a challenging post-pandemic operating climate.