Columbia, Mo.-based Boone Health is declining to release further financial records after losing $112 million since becoming an independent community hospital in 2021 and cutting services, the Columbia Missourian reported Nov. 6.
Boone Health officials have claimed that as a private entity, it cannot release records that contain trade secrets. The hospital has said that it is putting in place an $11 million cost reduction plan. In November, the hospital announced that it would be ending home care and hospice services, affecting 26 employees. The news came after the hospital had already cut 62 positions in August.
In 2021, the hospital, which is run by an elected five-member board of trustees, officially became independent after merger negotiations with Columbia-based Missouri University Health Care collapsed.
Despite the financial struggles, Boone Health officials said the quality of care has not been affected.
"Do you think the public's out there worrying about the quarterly reports of the hospital," Jerry Kennett, chair of the Boone Hospital Board of Trustees, told the Missourian. Becker's has reached out to Boone Health for comment and will update the story if more information becomes available.