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It's one of last two remaining independent hospitals in Westchester County. The RFP process is expected to take 18 to 24 months
“The changing healthcare landscape mandates that we reconsider our current business model in order to continue to serve the community with state-of-the-art care and remain as an important and valued economic contributor to our local community," said Ron Corti, the hospital's chief executive officer.
Corti cited changes from federal health care reform that led to the Board of Trustees' decision, after consulting industry experts.
“We’ve been able to deliver efficient, high-quality care to the community for 150 years,” Corti said. “But the healthcare landscape has changed dramatically. Today, the cost of healthcare has escalated while government reimbursement for Medicare and Medicaid patients has dropped precipitously. Additionally, insurance companies have increased denial rates for payment after we have rendered excellent patient care.”
Corti added that not only are insurance companies not reimbursing hospitals as they had in the past, but employers have been shifting to health plans with employee high deductibles to reduce their health benefit costs, leaving a growing percentage of patients unable to come up with cash to pay for medical care.
“Yet the hospital treats them, which amounts to a price cut for us," Corti said.
“Therefore, we are exploring affiliation options, while we are still strong and financially viable,” Corti said. “This will be a careful and deliberate process that we expect can take up to two years.”
After that, it could take another five years to integrate systems.
St. John’s Riverside Hospital has been an integral part of its community since 1869.
In 1894, the Cochran School of Nursing, the oldest hospital-based school of nursing in the metropolitan area, was founded, making the St. John’s Nursing staff the backbone of the hospital.
St. John’s is a four-campus health system that includes St. John’s Andrus, Dobbs Ferry, ParkCare and Boyce Thompson Pavilions.
About 400 physicians, representing almost every medical and surgical specialty, choose St. John’s for their patients’ care.
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