Day Kimball Healthcare (DKH) Corporators
“Dedicated and visionary members of the community”
In the News
Massachusetts-based Covenant Health experienced $60.9 million in operating losses in 2018, largely due to expenses associated with its $83 million Epic EHR implementation.
Financial services company Standard & Poor’s (S&P) referenced Covenant Health’s operating losses as part of a June decision to downgrade the health system’s bond rating from BBB to BBB- with a negative outlook, according to Boston Business Journal.
Service cuts often follow acquisitions. The cuts have had a particularly strong impact on the state’s rural labor and delivery landscape. Researchers have connected hospital consolidation to rising health care costs.
“OHS must stop these health care moves that are based on economic interests rather than health care needs.“
U.S. Senator Richard Blumenthal
The sale confirms other research that acquisitions result in losses to the hospital acquired and then hospitals, stripped of value, are resold. Manchester, Rockville and Waterbury (now planned to be acquired by Yale) were previously sold to Prospect Medical Holdings in CA, which extracted value for their investors, then resold the hospitals.
This is what DKH is heading for with Covenant or with any other
acquisition where obstetrics is closed first as it does not have high profit margins.
Good discussion regarding SaveDKH's efforts in the Washington Post!
