The students at Salve Regina University calculated the approximate $54 million figure, which does not include payments to Newport city authorities and schools or charity care and community benefits, from the more than 300 jobs at the facility as well as vendor payments and capital expenditure.
The study was commissioned by hospital President Crista Durand, herself a graduate of Salve Regina.
The healthcare system in Rhode Island was described by Lifespan CFO David Kirshner as “in crisis” in September amid ongoing challenges including inflationary pressure, labor shortages and concern over future federal payments.
Lifespan reported an overall loss in 2022 of $187.6 million compared to a gain of $161.6 million in 2021.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
