The hospital is Northern California’s only independent, nonprofit regional children’s hospital and one of two solely designated California Level 1 pediatric trauma centers. In late March, the hospital announced a 3-year plan to restructure its services, pursue new business opportunities and negotiate more favorable payor contracts, according to the Sentinel.
In the past four years, the hospital has lost $80 million. In 2009 alone it lost $26 million, and its current initiative is intended to reduce a projected deficit for this year from $26 million to $16 million, according to the report.
A second phase of the restructuring, expected in mid-summer, will involve new partnerships with community clinics to provide subspecialty outpatient care to children through an integrated model that would improve finances for both the hospital and clinics, according to the report.
Read the San Francisco Sentinel report on Children’s Hospital Oakland.
