March 4, 2015 |
Mercy Health System has agreed to sell Mercy Suburban Hospital in Montgomery County to Prime Healthcare Services Inc., a California-based for-profit company that owns Roxborough Memorial Hospital in Philadelphia and Lower Bucks Hospital in Bristol Township. Mercy, part of one of the nation's largest tax-exempt health systems, Trinity Health, of Livonia, Mich., and Prime did not disclose the value of the deal, announced Monday. Trinity said the 126-bed hospital in East Norriton lost $5.4 million on $54.6 million in revenue in the six months ended Dec. 31. An expert in health-care finance who is familiar with Prime estimated that the Ontario, Calif., company would value a place like Mercy Suburban at 25 percent to 40 percent of annual revenue.
July 1, 2014 |
Carol J. Quinn, now chief executive officer of Mercy Home Health and Mercy LIFE, runs a $130 million operation that employs 780 people focused on the home care of the frail and elderly. Much of what Quinn does as an executive, however, is governed by something that she noticed as a fledgling nurse working in community health: Patients often don't understand, or can't absorb, the discharge instructions they are given when they leave the hospital. "They are under too much stress," she said.
February 8, 2014 |
Independence Blue Cross announced CEO transition plans for its AmeriHealth Caritas subsidiary, which is one of the nation's biggest managers of Medicaid benefits. Paul A. Tufano, a top executive at IBC, will succeed Michael A. Rashid, 66, who is retiring after nearly 20 years at AmeriHealth, including the last four as chief executive. The change will be effective March 31. Tufano will remain chairman of AmeriHealth's board of directors, a position he has held since 2011. He will also remain president of IBC's government markets business and chairman of IBC's executive leadership team.
October 19, 2013 |
Independence Blue Cross and the Jefferson Health System on Thursday announced new two-year contracts for Thomas Jefferson University Hospitals and Main Line Health that include the potential for millions in incentive payments. The agreement with Jefferson means that IBC has 23 of 38 general adult hospitals in its network operating under incentive-laden contracts. Nearly $100 million in bonus payments from IBC are at stake for the hospitals and health systems next year. The incentive payment system covers doctors and hospitals, and is based on quality measures, such as the number of infections acquired in the hospital, and cost reductions through improved coordination of patient care and other measures.
October 18, 2012 |
Catholic Health East in Newtown Square has agreed to merge with Trinity Health in Michigan to form a system that would include 82 hospitals in 21 states coast-to-coast, the two Catholic health providers said Wednesday. The deal is far from complete. The two systems, which together have more than $13 billion in annual revenue, said they signed a nonbinding letter of intent to join forces. The goal is to reach a definitive agreement in the spring of next year The board agreed that John R. Swedish, president and chief executive of Trinity, which is based in Novi, Mich., will retain those positions if the merger is completed.
August 9, 2011 |
Independence Blue Cross, the region's largest health insurer, is forming a partnership with Blue Cross and Blue Shield of Michigan to enhance both companies' ability to gain market share in providing health insurance through Medicaid, a government-funded program for the poor. The two companies will spend a combined $170 million to buy out Mercy Health System's 50 percent share in AmeriHealth Mercy. The other 50 percent is already owned by Independence Blue Cross. AmeriHealth is headquartered in Philadelphia.
November 24, 2009 |
Seven of Philadelphia's largest health systems were sued yesterday and Friday by employees who said they were not compensated when they worked through their unpaid lunch hours. Among the plaintiffs is nurse Pamela Kimble-Armstrong of Vineland, who said she was fired for taking a 15- minute break when she worked in the emergency room at Mercy Philadelphia Hospital in Southwest Philadelphia. "A lot of times I worked triage," she said. "I was the only nurse out there. " It got so bad, she said, that she started to wear adult diapers to work because it was close to impossible to get a bathroom break, let alone find time to eat a sandwich.
November 23, 2009 |
Frank H. Abbott, 90, a Philadelphia corporate lawyer who aided the hospital work of the Sisters of Mercy for decades, died Nov. 15 of renal failure at St. Luke's Hospice in Bethlehem, Pa. He was a longtime resident of Berwyn. Sister Kathleen Keenan, senior vice president of mission for the Mercy Health System, said that Mr. Abbott, as a partner with the law firm of Schnader, Harrison, Segal & Lewis, worked on the 1969 merger of Fitzgerald Mercy and Misericordia hospitals to create Mercy Catholic Medical Center.
October 28, 2009 |
In 1943, Sister Marie Lenahan at age 23 got her first experience of caring for the ill. "Faced with a shortage of workers during World War II," an Inquirer 2003 story reported about what is now Mercy Philadelphia Hospital, "she was thrown into hospital work seven days a week. "She even scrubbed the hospital's front steps in the middle of the night. " On Monday, Sister Lenahan, 89, president of both Mercy Hospital in West Philadelphia and Mercy Fitzgerald Hospital in Darby from 1972 to 1986, died of heart failure at Mercy Fitzgerald.
July 24, 2008 |
Neighborhood opponents of a new hospital in Montgomery County's East Norriton Township have withdrawn two legal challenges to the project, according to Richard Montalbano, vice president and project executive for Albert Einstein Healthcare Network. Einstein and Montgomery Hospital are working together to build a $300 million, 192-bed hospital at Germantown Pike and North Whitehall Road. Two people who live near the proposed facility had filed challenges to a change in zoning regulations, based on the way township supervisors held hearings on the issue.