Sandoval Regional Medical Center in Rio Rancho, N.M., on Jan. 1 will join UNM Hospitals and change its name to University of New Mexico Sandoval Regional Medical Center-A Campus of UNM Hospital.
Both facilities are part of Albuquerque-based University New Mexico Health System, but have been operating under separate licenses, a spokesperson for the health system told Becker's. This integration will create a multi-campus hospital with UNM Sandoval Regional Medical Center operating under UNM Hospital's license.
The UNM board of regents approved the transaction in April and expect revenue to increase by $6.9 million annually as a result.
The $6.9 million annual revenue boost will be driven by a projected $5.3 million increase in Medicare payments and a $2.5 million increase in Medicaid payments —- offset by a $765,000 decrease in managed care payments.
"Given the high levels of integration present between SRMC and UNMH, the outlined projected financial impacts are expected to be achieved within the first year," according to a board of regents presentation.