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Dive Brief:
- BHSH system now goes by the name Corwell HealthAccording to the release on Tuesday.
- The health system was created in February following the merger of Spectrum Health and Beaumont Health, two Michigan-based nonprofit systems.
- The rollout of the new name and brand will begin soon and is planned for the next two years, according to the release.
Dive Insight:
BHSH was intended to be a temporary name for the system, which officially merged in February.
It has a large footprint in the state of Michigan, with 22 hospitals, a large outpatient practice, a health plan covering 1 million people and $13 billion in revenue.
Following the merger, Beaumont President John Fox announced He plans to leave The organization, and his successor will serve as the president of the new unified system.
The system announced in June that it had named Benjamin Schwartz, a former Northwell Health executive. The new president.
In the first half of this year, the system’s operating income, including state and federal funds, was approx. 120 million dollarsThat fell short of projections of $156 million, according to financial filings.
The Beaumont Health division posted an operating loss of $96 million through June 30 and the Spectrum Health division posted operating income of nearly $140 million, beating earlier forecasts.
In September, the system announced plans They cut 400 jobs In management roles under financial pressure. The cuts represent less than 1% of the health system’s workforce, which employs 64,000 people.
“Our health system, like many others across the country, is facing significant financial pressures from historic inflation, pharmaceutical and labor costs, COVID-19, CARES Act funding and cost-prohibitive reimbursement,” the system said.
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