April 22, 2016 |
The decision announced Wednesday by Philadelphia College of Osteopathic Medicine to offer on-campus student housing for the first time since its founding in 1899 is not earth-shattering in itself. But the move could be a sign of bigger changes to come for the City Avenue school, which has long been a relatively quiet presence in the region's medical-education sector - even as it opened a second campus a decade ago near Atlanta. "It's time to raise the profile, because we do great things here," said Jay S. Feldstein, a 1981 PCOM graduate who became the college's eighth president in July 2014.
March 17, 2016 |
Aetna, one of the Philadelphia region's largest health insurers, and Virtua Health, South Jersey's largest health system, will introduce the Aetna Whole Health-Virtua insurance plan later this year, the two organizations said Wednesday. The commercial insurance plan for businesses and individuals will use Virtua's three acute-care hospitals and Virtua Physician Partners to coordinate care in ways designed to reduce costs and improve the quality of care, they said. Aetna participates in similar so-called accountable-care organizations with Children's Hospital of Philadelphia, Mercy Health System of Southeastern Pennsylvania, and St. Mary Medical Center.
February 26, 2016 |
Mercy Health System of Southeastern Pennsylvania sold its Mercy Suburban Hospital for $25 million, $10 million less than originally planned, a court filing last month showed. The sale, announced nearly a year ago with an expected completion date in September, finally closed Feb. 1. The price is not the only thing that changed. The buyer did, too. Taking the place of a for-profit subsidiary of Prime Healthcare Services Inc. was Prime Healthcare Foundation Inc., a tax-exempt affiliate of Prime.
January 14, 2016 |
The Philadelphia region has a new crop of accountable-care organizations aiming to reduce the cost of caring for Medicare beneficiaries while improving quality by emphasizing coordination by doctors and other providers. If the accountable-care organizations reduce costs beyond targets while meeting quality criteria, the government shares savings with them. Genesis Healthcare Inc., a major nursing-home owner based in Kennett Square, has formed Genesis Healthcare ACO, which covers nine states, including Pennsylvania, New Jersey, and Delaware.
July 9, 2015 |
Corporate mergers often mean layoffs, as new bosses redefine standards. But when Valley View at Elwyn, an assisted-living home for deaf residents, joined the Mercy Health System, something very different happened. Valley View's 13 direct-care providers are deaf and use American Sign Language with their patients, some of whom have lived there for 30 years. But Mercy LIFE (Living Independently for Elders) requires staff to be registered nurse aides, and Valley View's staff lacked that qualification.
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.