LifePoint CEO says Yuma Regional Medical Center deal good for Yuma healthcare
Representatives of LifePoint Health, the hospital management company owned by a private equity firm, will be on hand to discuss a proposed joint venture with Yuma’s nonprofit hospital at a meeting of the Hospital District One Board this evening.
The Yuma Regional Medical Center deal has sparked concern from a local citizen’s group and the labor union, UNITE HERE with both launching social media campaigns questioning the increasing trend of private equity ownership of rural hospitals across the country. Locals worry about a drop in services, while the union worries about staff cuts driven by a for-profit business model.
LifePoint CEO David Dill tells KAWC there would be no contraction of services in the Yuma community under the deal.
"We would not be successful if all we did was partner with a community that had to put their trust in us," Dill said. "We go into that community, and we shut down services, get rid of people and shrink the footprint? First of all, that’s not good for our company, it just doesn’t make sense. It also is not good for the community.
He says the company is committed to investing $300 million dollars over the next 10 years to improve the healthcare infrastructure and expand the number of providers. He adds that the company would pay local taxes and help build on the YRMC Foundation’s work to expand healthcare options.
Dill says company representatives, including its chief medical officer, will answer all the community's questions tonight, and in the months ahead.
The Hospital District One Board meeting is at 5:30 this evening at Yuma Civic Center.
Yesterday we heard objections from the labor union, UNITE HERE, to a proposed joint venture between Yuma Regional Medical Center and LifePoint Health, a hospital management company held by private equity firm, Apollo Management Group.
The union says LifePoint has a record of shrinking staff and services at the more than 80 hospitals they run nationwide. And they say changing YRMC’s non-profit status will put profits ahead of care.
But LifePoint CEO David Dill says the proposed deal with YRMC is also a deal with the Yuma community. He says LifePoint will expand healthcare in the region, pay taxes and spark the local economy.
Dill tells KAWC’s Victor Calderón that company representatives will talk about the company's record of accomplishment and philosophy at tonight's meeting of the Hospital District One Board. He says they will also introduce two initiatives that will impact local healthcare for years to come.