University of Chicago Medicine is opening a new clinic in the bustling South Loop as the academic medical center looks to reach more patients beyond its Hyde Park campus.
Physicians specializing in primary care, cardiology and orthopedics, among other specialties, are expected to have up to 75,000 patient visits a year at the 18,000-square-foot clinic. It’s slated to open in October 2016 inside Southgate Market, a retail hub at Canal Street and Roosevelt Road that includes Whole Foods Market, DSW shoe store and Marshalls. Read the article in its entirety.
A century ago, a doctor’s visit meant the doctor came to you and managed everything from lumps and bumps to minimal surgical procedures. Going to the hospital happened only when all other options were exhausted. In today’s healthcare environment, with its spiraling costs and downward pressures from the Affordable Care Act, it’s no wonder the question’s been raised whether that old-fashioned approach might be updated for today’s needs. Read the article in its entirety.
Scratch the surface of a rural town and chances are the healthcare, employment, and community linchpin is the local hospital. However, a fundamental challenge causing many rural facilities to shut down is the lack of ready cash flow for new equipment, construction upgrades, or staff retention.
When one looks at the healthcare market, it is clear that merger and acquisition activity among hospitals is high. However, for many hospitals considering some form of a transaction, a merger or acquisition may be a relatively foreign strategy to pursue. This is particularly true for smaller, community hospitals.
Expanding outpatient services, beefing up physician ranks and improving quality are key priorities for Sonia Mehta, who acknowledges that her new job as CEO of Chicago’s Loretto Hospital won’t be easy. An internist who trained at West Suburban Medical Center in Oak Park, Dr. Mehta takes the reins of a 187-bed safety-net hospital on the West Side that aims to survive and thrive in an industry rife with consolidation as insurance carriers and government programs pressure providers to reduce costs.
Mergers and acquisitions generally occur because organizations want to become bigger or they want to acquire capabilities that will make them more effective, but no matter what the reasons for the transactions, they aren’t simple.
Due to the high level of consolidation in the healthcare industry, the amount of hospital closures has increased. Although some hospitals have closed due to bankruptcy and financial issues, some hospitals close because the healthcare services are transferred to another facility. A health system may consolidate services to increase efficiency and reduce unnecessary healthcare costs. Regardless of the reason, the closing of a hospital — often a long-standing symbol in a community — can be hard for employees, physicians and community members to accept. They may pushback on the deal. According to Doug Fenstermaker, managing director and vice president of healthcare for Warbird Consulting Partners and former CFO of HealthEast Care System in St. Paul, Minn., when an executive team closes a hospital, they need to prepare employees and even community members for a “grieving” process: denial, anger, bargaining, depression and acceptance.
A North Chicago medical school with booming enrollment and an Arlington Heights nursing home that needs to modernize are plowing ahead with construction plans.
(Crain’s) — A North Chicago medical school with booming enrollment and an Arlington Heights nursing home that needs to modernize are plowing ahead with construction plans.
Hospital transactions can be transformative periods for hospitals due to the potential cultural and operational shifts that could result. Hospital staff and physicians may find it difficult to adjust to enterprise wide cultural changes. The following five best practices will help hospital executives and administrators guide their hospital staff and physicians through these cultural transitions.