Banner Health: Tucson ASC, other projects will offset financial setbacks
Phoenix-based Banner Health is losing millions of dollars in Tucson, Ariz. However, company officials say the health system plans to offset the losses through a series of projects in the area, according to tuscon.com.
Here are six things to know:
1. Banner Health lost $89 million in its Tucson operations last year and company officials expect to lose $45 million in 2017.
2. The health system has worked to restructure and eliminate various positions and has employed consultants to help devise strategies on cost-saving measures, according to tuscon.com.
3. The Arizona Republic obtained an email Banner executives sent to employees saying restructuring changes will impact corporate positions across several divisions, and the health system will eliminate the associate administrator position at some Arizona community hospitals effective March 31, 2017.
4. The health system has invested capital in new projects to expand its market share in Tucson and Phoenix including building a $98 million outpatient clinic that will house an ASC, a parking structure and a multispecialty health center. Banner expects to complete the project in 2018.
5. Banner Health is also underway with building a $426.7 million hospital at Banner-University Medical Center Tucson. The health system expects to complete the hospital in 2019.
6. Kathy Bollinger, executive vice president of Banner-University Medicine, told tuscon.com, these projects are helping Banner Health keep pace with the rapidly changing healthcare environment. She said, "You are not going to get better sitting and waiting."
More articles on surgery centers:
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SurgCenter Developments opens 100th operational center; Tenet Q4 net losses total $79M & more—5 ASC company notes
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