Much of the income will come from $7.2 million in annual hospital lease payments from Swedish, although Stevens said it plans to spend only $4-$6 million annually in the interest of frugality.
Decisions on spending will be made by the five elected board members of Stevens Hospital, who will transition to leading the organization like a foundation. The public will also have the chance to give input on how the hospital’s money should be spent.
If approved by the state department of health, Swedish Health Services will begin managing Stevens on Sept. 1.
Read the Daily Herald report on the Stevens Hospital merger.
Read more coverage on recent mergers and acquisitions:
–Cleveland Clinic Partners With Suburban Hospital in Illinois
–Two Michigan Hospitals Formally Affiliate to Create Superior Health Partners
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.
