Locally owned and operated community hospitals these days often face an impossible dilemma: Should they allow a larger hospital system to take over their operations, which can mean cuts to staff and services—or close entirely?
Even though the hospital authority says they don't plan to ask for any money right now, they could choose to in the future. That's thanks to a Georgia law that allows local governments to put a certain portion of property tax revenue toward funding non-profit hospitals.
Even though larger institutions are stepping up to help rural communities, their leaders agree that there are some obstacles preventing them from serving the rural communities more effectively.
Hospitals and other providers, which historically put their patients in interest-free payment plans, have welcomed the financing, signing contracts with lenders and enrolling patients in financing plans with rosy promises about convenient bills and easy payments. For patients, the payment plans often mean something more ominous: yet more debt.
J.P. Morgan is a cornerstone financial institution, with investments and interests in all sectors across the globe. With regards to healthcare, the company made headlines just a few years ago for its innovative partnership with Amazon and Berkshire Hathaway in launching Haven, a joint venture to optimize healthcare costs and the care experience for patients.