Palm Drive Hospital emerged from Chapter 9 bankruptcy protection last year and plans to increase its financial strength and possibly services under Adventist. A search committee at Palm Drive Hospital chose to consider Adventist for a parent company because of its turnaround of St. Helena Hospital, which was losing $1 million a month before the system took over and currently brings in annual net revenue of $270 million. Palm Drive Hospital’s operating loss at the end of May 2011 was close to $2.6 million.
Adventist also appealed to Palm Drive Hospital because of its similar affiliation with Red Bud Community Hospital in Clearlake, Calif., now called St. Helena Clearlake.
Palm Drive Hospital could either affiliate with Adventist or receive advice on improving finances. The two groups could make their decision by the end of July.
Read the North Bay Business Journal report on Palm Drive Hospital and Adventist Health.
Related Articles on Adventist Health:
Adventist Health Proposes $62M Reconstruction Plans for California’s Frank R. Howard Memorial
Voters Approve Sale of California’s Sierra Kings Hospital to Adventist Health
CEO Ed Noseworthy Moves From Florida’s Bert Fish to Adventist’s Fish Memorial
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.
