Larry Kaiser, MD, president and CEO of Philadelphia-based Temple University Health System, is developing a strategy to improve finances by attracting insured patients, according to a Philadelphia Inquirer report.
The hospital is Philadelphia's "unofficial public hospital for the poor," according to the report, as 42 percent of Temple's discharges in the year ended June 30, 2011, were Medicaid patients.
To balance low payments from a large Medicaid patient base, Dr. Kaiser has led several changes at the health system to improve its care and stature, thereby attracting patients with higher-paying insurance. For example, the heath system has acquired the Fox Chase Cancer Center in Philadelphia for $83.8 million, opened a new outpatient facility and recruited more than a dozen high-profile physicians, according to the report.
The health system had nearly $133 million operating losses from 2008 to 2010 and brought in little more than $1 billion. Dr. Kaiser aims to raise revenue to the $3 billion to $5 billion range to compete in the area, which has systems like Jefferson Health System, which had $2.95 billion in revenue in the year ended June 30, according to the report.
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The hospital is Philadelphia's "unofficial public hospital for the poor," according to the report, as 42 percent of Temple's discharges in the year ended June 30, 2011, were Medicaid patients.
To balance low payments from a large Medicaid patient base, Dr. Kaiser has led several changes at the health system to improve its care and stature, thereby attracting patients with higher-paying insurance. For example, the heath system has acquired the Fox Chase Cancer Center in Philadelphia for $83.8 million, opened a new outpatient facility and recruited more than a dozen high-profile physicians, according to the report.
The health system had nearly $133 million operating losses from 2008 to 2010 and brought in little more than $1 billion. Dr. Kaiser aims to raise revenue to the $3 billion to $5 billion range to compete in the area, which has systems like Jefferson Health System, which had $2.95 billion in revenue in the year ended June 30, according to the report.
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