What differences can we expect to see when Carolinas Hospital Systems changes from a for-profit to a not-for profit organization?
Studies have shown that when hospitals convert from for-profit to not-for profit status, no significant differences have occurred in quality measures, such as mortality rates or in community representation on hospital boards. MUSC Health has a robust charity care program and invests millions of dollars in ensuring that community health needs are met.
One significant difference after the partnership is that MUSC Health has access to capital resources that can help support transformation and growth in the Florence and Lancaster communities.
When do you expect the acquisition will be completed?
MUSC Health has begun the due diligence process, which is expected to be complete by the end of February. During this time, MUSC Health and Carolinas Hospital Systems will complete negation terms. Pending any regulatory approvals, we plan to begin our partnership with the hospitals in the Chester, Florence, Lancaster, and Marion communities on March 1, 2019.
What are the advantages to being part of MUSC Health?
Benefits of joining MUSC Health include:
- Commitment to statewide innovation initiatives that support access to health resources in local communities.
- Financial stability and security.
- Additional resources and expertise to continue enhancing patient safety and quality care.
- Enhanced ability to expand services and continue to build key services.
- New support to recruit and retain physicians.
- Additional capital to invest in facility improvements, new technology and services.
- Access to operational experts with knowledge in a range of areas from strategic planning and policy to marketing and information technology.
Will MUSC Health broaden the scope of services offered? What capital expenditures will be made and when?
Joining MUSC Health will bring many benefits to Chester Regional Medical Center, Carolinas Hospital System in Florence, Springs Memorial Hospital in Lancaster, and Carolinas Hospital System – Marion its employees, medical staff, patients, volunteers, and communities.
MUSC Health sees great opportunity to work together to expand and enhance services provided by these hospitals, improve health care access throughout the state, and advance health innovation efforts throughout South Carolina.
In the coming months, MUSC Health will work closely with care team members in Chester, Florence, Lancaster, and Marion on the development of plans to ensure future growth and success. As part of this transition process, MUSC Health will be looking for opportunities to meet unmet needs and enhance service delivery to the community. Decisions related to capital expenditures will be made as a result of this planning process.