“We can’t find anything like it around the country,” Kate Walsh, Boston Medical Center’s CEO, told The Globe. “There’s no freestanding safety-net hospital that has raised these kinds of dollars.”
Boston Medical Center has a high patient population reliant on government insurance or who are uninsured. While many hospitals can turn to their patients to help raise money, the safety-net hospital lacks a pool of wealthy patients who appreciate their treatment and have the means to give back.
“Most hospitals and research organizations in our town have very grateful patients who often go on to become donors,” Kate Walsh, Boston Medical Center’s CEO, told The Globe. “At Boston Medical Center, they write us heartwarming notes. They’ll send us $5 in a card. But they’re not [usually] in a position to make substantial contributions.”
Still, the hospital was able to raise an amount that other hospitals across the nation would envy, according to the report.
Ms. Walsh said that about half the donations came from individuals and foundations and the remainder came from corporate gifts or competitive grant programs.
The six-year $450 million fundraising campaign was the largest in Boston Medical Center’s history.
Read more here.
More articles on healthcare finance:
Montefiore to close 121-bed hospital in New York
U of Louisville has $379M backup plan if it can’t buy Jewish Hospital
Lawmakers urge Illinois attorney general to investigate MetroSouth hospital closing
