Skip to content

Ascension closes Bedford hospital, limiting competitors in area

Ascension Well being introduced it could shut its Bedford hospital solely days after posting a fiscal 12 months, system-wide lack of $1.8 billion that got here largely on account of funding losses that exceeded $1 billion.

Whereas a hospital business spokesman stated the Bedford hospital’s closure was prompted, no less than partly, by a decent labor market, a well being care business critic and a few neighborhood members laid no less than a part of the blame at Ascension’s toes, saying the Catholic nonprofit didn’t make correct investments and cared extra about cash than mission.

Ascension, primarily based in St. Louis, declined requests for interviews to debate why it determined to shut St. Vincent Dunn Hospital, which previously served because the county hospital and dates again to 1941.

The well being system in September stated it misplaced $1.8 billion for the 12 months that ended June 30, in comparison with a revenue of practically $5.7 billion the prior 12 months. Ascension misplaced practically $900 million from its well being care operations, partly as a result of wages and salaries rose by $1.2 billion from the prior 12 months. Nevertheless, the well being system additionally noticed a roughly $7 billion swing in its non-health care-related investments: Ascension misplaced about $1 billion on its investments this 12 months. Final 12 months, the investments generated a revenue of practically $6 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *