ProMedica might not be done expanding
But even if it doesn't,
In one fell swoop,
The move, officials say, should provide wider care options for seniors while at the same time shifting some of that care to lower-cost facilities.
"It's not an area that has readily been embraced by hospitals in the past. HCR did their thing. We did our thing,"
Changes in how the government reimburses both acute care and skilled nursing facilities have strained the finances for many operators and forced them to rethink how they can best deliver care.
That, said Dr.
"Across the country, we are seeing mergers, acquisitions and alliances that formerly seemed improbable or unnecessary,"
In that climate,
"What it allows us to do is to think about serving people's needs no matter where they're at in life," he said.
Officials also said they will look to expand the work
Acquiring
After ManorCare filed for bankruptcy earlier this year and was set to be absorbed by its landlord,
In addition to growing
"The impact for
The company has about 700 employees working downtown and about 50,000 total workers.
No major changes are expected in the short term, other than the fact that
The health system has said it expects to invest as much as
"Adding a wellness component to what it is we're doing is really important,"
The funding should also allow for technological upgrades, including getting all its facilities up to speed on electronic medical records and moving toward telemedicine capabilities that could connect
"It allows us, at a time when the industry is struggling a little bit, to have the cushion and have the oxygen to continue to invest in the business, to invest in our people, and to invest in innovation to come up with new ways that we're going to deliver care,"
Still, there have been questions about
"I guess it's a big hoorah for the people of
The deal, which had
"The economics are very, very different under this model than what HCR had before,"
Officials have said the new 15-year lease will charge less than half of what ManorCare had been paying, yet still allow
Contact
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.
___
(c)2018 The Blade (Toledo, Ohio)
Visit The Blade (Toledo, Ohio) at www.toledoblade.com
Distributed by Tribune Content Agency, LLC.
Hospital transfers can leave diagnoses behind
Foley Is Co-Counsel in U.S. Supreme Court Tax Victory for Canadian National Railway
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News