NYC Health + Hospitals has picked Boston Consulting Group to help overhaul the struggling public hospital system, according to a Crain's New York Business report.
Here are four things to know about the move.
1. A $3.65 million contract for Boston Consulting Group to help NYC Health + Hospitals stabilize the struggling network was approved by the system's finance committee July 7. NYC Health + Hospitals' full board must still sign off on the deal.
2. The system has said it sought an outside consulting firm, "given the enormous body of work facing the transformation office and its nascent state," according to the report.
3. If approved, the project will be led by Ross Wilson, MD, the system's CMO, acting as chief transformation officer.
4. The move comes as a recent report from the New York City Independent Budget Office shows NYC Health + Hospitals faces a number of challenges, including rising expenses and declining revenues, leaving the public hospital system with a projected cash shortfall of $6.1 billion over the four years through 2020.
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