![]() “We are looking to the future as we continue our nationally recognized industry leadership in the face of the changing health care environment and its challenges. “While we experienced growth in 2012, one of the biggest accomplishments was the talks that led us to announce our intent to merge with Beaumont Health System,” says Nancy Schlichting, chief executive officer, Henry Ford Health System. In October, Henry Ford and Beaumont health systems signed a letter of intent to combine their operations into a new $6.4 billion organization with the goal of designing a national model for health care. HAP’s current membership is the highest in its history, making HAP the second largest health insurer in Michigan.Īlso, Midwest Health Plan, a Medicaid HMO acquired by HAP in 2011, has grown to more than 80,000 members with annual revenue of $275 million. In its insurance operations, Health Alliance Plan (HAP) and its subsidiaries increased total enrollment to 668,000, an increase of 202,000 members (43 percent) from Jan. There also was substantial growth within the health system in 2012. 2011) and in 2012 the expense was $36.4 million for the year. In 2011, the Epic expense was $5 million (project started in Nov. The Epic impact in 2011-2012 was $41.4 million of additional expense. This investment represents a true transformation in the way Henry Ford delivers care to our patients and how we operate our business.” “This consists of a $356-million investment in our new clinical information and revenue system, which includes Epic, our new electronic medical record. “Second, Henry Ford is making a significant investment in state-of-the-art information technology in our clinical, business and insurance operations, which positions us well for health care reform,” says Connelly. ![]() This consists of $61 million in charity care, $90 million in unpaid costs of Medicaid and other public programs, and $82 million in bad debt. In 2012, the health care system provided $233.6 million in uncompensated care, an 11 percent increase from 2011. ![]() The first is an increase in uncompensated care in 2012 for the health system,” says James Connelly, chief financial officer of Henry Ford Health System. “The net income decrease is related to two factors. Overall, Henry Ford reported $53.1 million net income for 2012, as compared to $62.9 million in 2011, a decrease of 15 percent. Henry Ford reported total revenues of $4.46 billion in 2012, an increase of $490 million from the $3.97 billion total revenues in 2011. DETROIT - For the 10th consecutive year, Henry Ford Health System experienced positive revenue growth and net income in 2012.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |