Here are five things to know:
1. Many hospitals partner with larger healthcare organizations due to changing reimbursement models that focus on quality care.
2. Beaumont Health System, Oakwood Healthcare and Botsford Health Care merged to form Beaumont Health in 2014. As a result, Beaumont’s net revenue reached $4 billion in 2014, compared to $2.2 billion in 2011.
3. While some health systems thrive off the mergers, others systems’ revenue declined due to lost market share, sale of affiliated businesses or companies, rise in bad debt and decline in government and private insurance payments.
4. MidMichigan, based in Medland, experienced revenue decline of more than 5 percent to $544 million in 2014, compared to $570 million in 2011.
5. Some of the other recent mergers including ProMedica’s acquisition of Monroe-based Mercy Memorial Hospital earlier this year as well as Ontario, Calif.-based Prime Healthcare Services’ acquisition of Garden City (Mich.) Hospital.
More healthcare news:
7 things for ASC leaders to know for Monday — Nov. 16, 2015
5 key design points on Memorial Sloan Kettering’s new Josie Robertson Surgery Center
Resurgens Orthopaedics, The Orthopaedic South Surgical Center host coat drive: 5 key notes
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.