UPMC announces $2B project to build three specialty hospitals – ModernHealthcare.com

UPMC will spend $2 billion to build three specialty hospitals, the Pittsburgh-based mostly built-in well being system introduced Friday.

The UPMC Coronary heart and Transplant Hospital, UPMC Hillman Most cancers Hospital, and UPMC Imaginative and prescient and Rehabilitation Hospital will probably be situated on the campuses of UPMC's Presbyterian Hospital in Oakland, Pa., and its Shadyside and Mercy hospitals in Pittsburgh. The most cancers heart is slated to open in 2022 and the rehabilitation facility in 2020; UPMC didn't present any element on the guts and transplant hospital opening.

The not-for-revenue system pledged a $ billion annual capital dedication for the brand new hospitals, which will probably be constructed into present amenities and never add new beds.

"Tomorrow's UPMC won't solely be greatest-in-class, it would, in reality, have created a category nearly unto itself," UPMC board Chair Nicholas Beckwith III mentioned in a press release.

The brand new hospitals will make use of new surgical methods, new imaging applied sciences, and superior scientific trials and analysis that may drive technological innovation, executives mentioned at press convention Friday.

"These digitally based mostly specialty hospitals are the expression of our innovative translational science creating remedies and cures for essentially the most devastating ailments," UPMC President and CEO Jeffrey Romoff mentioned in a press release.

Well being techniques have been carving out specialties in choose markets, notably in additional excessive-margin strains together with cardiac and orthopedic, whereas downsizing in markets the place they don't seem to be main. Suppliers have additionally been constructing out their ambulatory clinics to strive to safe extra referrals amid declining hospital admissions.

UPMC has been forming partnerships to bolster sure service strains together with a three way partnership fashioned in July with Butler Well being System to develop obstetric and gynecological care.

The group reported a web earnings of $901 million on income of $three.87 billion within the quarter ended Sept. 30, up from $254 million on income of $three.38 billion a yr earlier, pushed by its merger with Harrisburg-based mostly well being system PinnacleHealth, in accordance to an earnings report issued Wednesday. Whereas the seven-hospital deal bolstered its earnings, Moody's Buyers Service downgraded its debt one notch to A1 from Aa3 over considerations relating to shifting into the extremely aggressive market in central Pennsylvania that continues to consolidate.

UPMC additionally added 200,000 members on its health plan the previous yr, amounting to a 7% enhance to greater than three.2 million members

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UPMC announces $2B project to build three specialty hospitals - ModernHealthcare.com