Palomar Health struggles financially as Kaiser partnership nears to close

Escondido, Calif.-based Palomar Health, a publicly owned health system, is in dire financial straits due to $585 million in debt, Voice of San Diego reported June 26.

Advertisement

Currently, Palomar’s finances are boosted through a partnership with Oakland, Calif.-based Kaiser Permanente that allows Kaiser members to access Palomar Medical Center. Kaiser is getting ready to open its own hospital in nearby San Marcos. 

The partnership will end Dec. 31, 2024. 

Credit rating agency Moody’s recently downgraded Palomar to “negative” due to risks associated with meeting its financial obligations.

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.

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.