Tag Archives: Mercy Health

23-hospital system rolls out student loan repayment program to attract nurses

Posted on by • Posted in Uncategorized • Tagged , , , , , , , • Leave a comment

https://www.beckershospitalreview.com/workforce/23-hospital-system-rolls-out-student-loan-repayment-program-to-attract-nurses.html?origin=cfoe&utm_source=cfoe

Image result for nurse student loan repayment program

Mercy Health, a 23-hospital system based in Cincinnati, has launched a student loan repayment program to attract and retain nurses in hard-to-fill roles, according to WVXU.

Due to tough competition for nurses and an increase in voluntary turnover, Mercy Health typically has between 1,500 and 2,000 openings for nursing positions. “We’ve seen voluntary turnover of almost 18 percent,” Allan Calonge, Mercy Health’s human resources vice president, told WVXU. “That’s quite a bit higher than it has been historically.”

Officials hope the new student loan repayment program will help address the problem. Mercy will make monthly contributions toward outstanding student loan debt for nurses who qualify. The system will contribute up to $20,000 to each nurse’s loans, according to WLWT.  

“Talented nurses are vital to ensuring the health and well-being of our patients,” Mr. Calonge told WLWT. “Our new student loan repayment program is a win-win for us and our nurses.”

 

 

Bon Secours finalizes merger with Mercy Health

Posted on by • Posted in Uncategorized • Tagged , , , , , • Leave a comment

https://www.fiercehealthcare.com/hospitals-health-systems/bon-secours-finalizes-merger-mercy-health?mkt_tok=eyJpIjoiWTJSa1kyWTVPR1F6T1dZNSIsInQiOiJGTjlCOStnaytPRkNHZ3pZM3ZwRzczWm1KUVZ4ZHV2TU1VenV4b1VFelNFM3pXcloySWxnSmFHcEdqamUzXC9TUVBEckNIaE01cFhEcG5JNTVwMFpsZUptRTBtQ2k2eFR0YmllQVB4cnU4S2E0dUtTbm54SEdLZ3FiNE5Od29FVmIifQ%3D%3D&mrkid=959610

handshake / shaking hands

Bon Secours Health System and Mercy Health finalized their merger on Wednesday, creating the fifth largest Catholic health system in the U.S.

The new leadership team, to be led by President and CEO John M. Starcher Jr., former chief of Mercy, took effect immediately upon the announcement, officials said.  The merger comes about six months after the organizations first announced plans to integrate.

Officials said the combined nonprofit health system will provide nearly $640 million annually in charity care and community benefit programs.

In February, it was first announced Bon Secours—a not-for-profit Catholic health system with operations in Maryland, Virginia, South Carolina, Kentucky, Florida and New York—intended to merge with Mercy Health, a Catholic health ministry in Ohio and Kentucky.

The two organizations represented $8 billion in net operating revenue and $293 million in operating income, according to an announcement about the merger. The combined systems will include 57,000 associates and more than 2,100 employed physicians and advanced practice clinicians.

The new system will have more than 10 million patient encounters across seven states, with 43 hospitals, more than 1,000 care sites and more than 50 home health agencies, hospice agencies, and skilled nursing and assisted living facilities.

Officials said they were able to finalize the deal so quickly because of “early alignment of similar cultures and grounding in mission-based” care. They also said no outside resources were used to organize the agreement between the two organizations, but Deloitte Consulting was hired to assist with operational integration.

Leaders of the newly formed health system include Chief Operating Officer Brian Smith, Chief Clinical Officer Wael Haidar and Chief Financial Officer Debbie Bloomfield.

The C-suite also includes Chief Administrative Officer Mark Nantz, Chief Enterprise Risk Officer Jeff Oak, Chief Legal Officer Michael Bezney, Chief Community Health Officer Sam Ross and Chief Sponsorship and Mission Officer Sr. Ann Lutz.

The merger is part of ongoing consolidation across the industry including a planned merger between Dignity Health and Catholic Health Initiatives as well as a merger between Partners HealthCare in Massachusetts and Care New England Health System in Rhode Island.

 

 

 

 

Mercy Health and Bon Secours Announce Merger

Posted on by • Posted in Uncategorized • Tagged , , , , , , , , • Leave a comment

http://www.healthleadersmedia.com/finance/mercy-health-and-bon-secours-announce-merger?utm_source=edit&utm_medium=ENL&utm_campaign=HLM-Daily-SilverPop_02222018&spMailingID=12986669&spUserID=MTY3ODg4NTg1MzQ4S0&spJobID=1342027713&spReportId=MTM0MjAyNzcxMwS2#

Image result for hospital merger

 

The Maryland and Ohio health systems announced Wednesday their intention to merge. The joint venture would be the nation’s fifth-largest Catholic health system.

Bon Secours Health System and Mercy Health announced their intention Wednesday to merge, potentially forming the fifth-largest Catholic health system in the country.

The proposed merger would join Mercy, the largest health system in Ohio, with Bon Secours, a Maryland-based Catholic health system with locations throughout the East Coast.

Related: Expect M&A Deluge To Continue Through 2018 And Beyond

If approved, the new system would operate 43 hospitals and more than 1,000 care sites across seven states, while generating close to $9 billion in annual operating revenues. Additionally, the new system would employ more than 2,100 physicians and advanced practice clinicians.

“Our decision to join forces with Bon Secours is rooted in our shared and very deep commitment to delivering compassionate, low-cost, high-quality health care to our communities,” said John M. Starcher Jr., president and CEO of Mercy Health, in a statement. “Working together, our strong faith-based heritage fuels our mutual focus to provide efficient and effective health care for each patient who comes through our doors.”

The proposed merger will need to gain approval from state and federal regulators as well as the Catholic Church, which oversees both systems. Leaders from Mercy and Bon Secours expect the deal to be completed by the end of the year.

“The mission, vision, values and geographic service areas of Bon Secours and Mercy Health are remarkably well-aligned and highly complementary,” said Richard J. Statuto, president and CEO of Bon Secours, in a statement. “This merger strengthens our shared commitment to improve population health, eliminate health disparities, build strength to address social determinants of health, and invest heavily in innovating our approaches to health care.”