Financial woes have big impact on health systems, groups

Several healthcare organizations continue to struggle with finances in 2024.

Here are three health systems and groups that are undergoing big changes due to financial challenges: 

1. Somerville, Mass.-based Mass General Brigham has pulled its physicians out of Steward Health Care's Holy Family Hospital campuses amid Steward's financial challenges.

"This decision was made because of concerns about practicing in an environment that does not meet our standards of safe patient care," an email to Mass General's staff read, according to Boston Business Journal. "We have already begun to communicate this change to our patients, and we will be rescheduling their care at a nearby Mass General Brigham or community hospital location as soon as possible. Patient safety is our top priority, and it is critical that our providers have all the resources and equipment necessary to safely care for their patients."

2. Springfield, Ill.-based Hospital Sisters Health System will close two hospitals and all physician offices and health centers it operates in Western Wisconsin with multispecialty group Prevea Health.

Hospital Sisters Health System cited "lingering impacts of the pandemic, the effects of inflation, workforce challenges and other industry wide trends" as reasons for closing.

3. Saltzer Health, a primary and specialty care group based in the Treasure Valley, Idaho, region, plans to sell or end services by March 29. The group cited ongoing financial and economic challenges as the reason for selling or closing, according to a Jan. 18 news release from the organization.

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