“Renton, Wash.-based Providence St. Joseph Health named Victor S. Jordan health network executive and COO of its Southern Region, effective March 26, according to a SCV News report. Mr. Jordan most recently was executive vice president and CFO of Detroit Medical Center. In his new role at Providence St. Joseph Health, Mr. Jordan oversee day-to-day operations for the health system’s 14 Southern California hospitals and two medical foundations.” Read more at Becker’s Hospital Review.
Intermountain, SSM, Ascension and Trinity’s Generic Drug Venture Could Have a Third of the Hospital Market as Members
“Seventy U.S. hospitals expressed interest in joining a nonprofit generic drug company venture formed by four health systems across the country and the U.S. Department of Veterans Affairs, according to Politico.” According to Becker’s Hospital Review, things to know include, “The generic drug company, formed by Salt Lake City-based Intermountain Healthcare in collaboration with St. Louis-based Ascension; Livonia, Mich.-based Trinity Health; St. Louis-based SSM Health and the VA, plans to address the high costs and shortages of generic medications. As a result of the expanded interest, the generic drug venture could soon count a third of all U.S. hospital operators as members, according to the report.”
“Bon Secours Health System has named a new chief executive officer for its hospitals in Norfolk and Portsmouth. Paul Gaden will be the CEO overseeing DePaul Medical Center in Norfolk and Maryview Medical Center in Portsmouth,” The Virginian-Pilot reports. “Gaden will work with John Barrett, CEO for DePaul, and will also serve as the executive leader for surgical services for Bon Secours Virginia, according to a news release from Bon Secours. He will start April 2. Gaden most recently was the CEO of Providence Portland Medical Center in Portland, Ore. “
“Irving, Texas-based CHRISTUS Health saw operating income jump to $101.9 million in the first half of fiscal year 2018, up from $46.4 million reported in the same period a year prior,” according to Becker’s Hospital Review. “The system posted revenues of $2.7 billion in the first half of 2018, compared to $2.3 billion reported in the same period for fiscal year 2017. This growth is largely attributable to net patient service revenue, which climbed 15 percent year over year. Premium revenue also increased to $140.1 million in the six months ended Dec. 31, up from $96.1 million reported for the first half of 2017.”
“Dignity Health and SEIU-UHW member workers at California Dignity Health facilities have reached a new five-year contract as fears over job loss and wage cuts due to the proposed merger with Catholic Health Initiatives are laid to rest,” reports Healthcare Finance News. “Fifteen-thousand union healthcare workers in California ratified the new contract with Dignity Health which expires April 30, 2023, the system announced Monday. It maintains employer-paid family healthcare and provides rising wages, with fully-paid, employer-provided family healthcare, which was a major point of contention in negotiations. Additionally, workers will receive 13 percent raises spread over five years, a one percent bonus in the second year, and will maintain their defined benefit pension.”