Bay Medical Center in Panama City, Fla., is dealing with funding cuts and $30 million per year in uncompensated services, and it is continuing to explore an affiliation with a larger health system to help absorb the financial strain, according to a News Herald report.
According to the report, BMC employees would retain their jobs if a deal is made. Pensions funds would also be protected, and charity and uncompensated care would continue as well.
BMC, a safety-net hospital that provides a lot of care to low-income patients, currently needs between $12 million and $15 million per year in capital improvements. It did not say which healthcare systems it is pursuing for the partnership.
Read the News Herald report on Bay Medical Center.
Connecticut's Johnson Memorial, Saint Francis Care Enter Affiliation Talks
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According to the report, BMC employees would retain their jobs if a deal is made. Pensions funds would also be protected, and charity and uncompensated care would continue as well.
BMC, a safety-net hospital that provides a lot of care to low-income patients, currently needs between $12 million and $15 million per year in capital improvements. It did not say which healthcare systems it is pursuing for the partnership.
Read the News Herald report on Bay Medical Center.
Related Articles on Hospital Affiliations:
6 Legal Topics to Consider Before a Hospital Completes a MergerConnecticut's Johnson Memorial, Saint Francis Care Enter Affiliation Talks
Northern Michigan Regional Health System, McLaren Health Care Initiate Affiliation Talks
https://www.beckershospitalreview.com/hospital-transactions-and-valuation-issues/northern-michigan-regional-health-system-mclaren-health-care-initiate-affiliation-talks.html