ProMedica restructures exec team amid financial struggles

Toledo, Ohio-based ProMedica has made changes to its executive leadership team, the health system confirmed in a statement shared with Becker's May 24.

The changes are "to better align our changing organization," according to the statement. It did not specify positions or executives affected. 

"Like many other healthcare organizations, we have been negatively impacted by the rising costs of labor and supplies, along with other economic factors. As a result, we are intensely focused on new initiatives to help ensure a stable and sustainable organization. We continue to be committed to delivering the best health and well-being care to the communities we serve," ProMedica stated.

The leadership changes come amid financial struggles at ProMedica.

In the three months ended March 31, the health system reported a $126 million operating loss, according to the Toledo Blade.

ProMedica also announced this month that its health plan, Paramount, is laying off about 200 employees after losing a Medicaid contract. Anthem acquired Paramount's Medicaid contract, and ProMedica said employees affected by the layoffs may have an opportunity to join Anthem or continue in a different capacity with ProMedica.

ProMedica has 11 hospitals and 500 locations in 28 states.

Copyright © 2023 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars