The system decided to close the hospital due to declines in inpatient volume. Laurel Regional has seen its inpatient admissions drop by 20 percent since 2013, and its finances have been worsening over the past six years.
The decision to close the hospital and replace it with an outpatient center was made after Kaufman Hall, a healthcare consulting firm, determined an ambulatory care center could operate without financial losses.
The ambulatory care center, which will offer emergency services, outpatient surgery and diagnostic imaging, is expected to be open on the hospital site by 2018, according to the report.
More articles on healthcare finance:
CMS’ final IPPS rule for 2016: 10 things to know
Michigan physician-owned hospital files for bankruptcy
10 hospitals and health systems with strong finances
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
