Historic Philadelphia teaching hospital serving vulnerable populations.
Acquired by Cerberus Capital Management2018-01-01
Safety-net hospital providing care to underserved Philadelphia communities.
Reductions in nursing staff and replacement of RNs with LPNs or aides, leading to longer wait times and lower quality of care for patients
Sale-leaseback of Hahnemann's real estate assets, extracting equity for Cerberus investors and potentially leading to higher costs or reduced services for patients
Aggressive billing upcoding to maximize reimbursements, potentially leading to higher costs for patients and their insurers
Elimination of unprofitable but essential services like maternity care, psychiatric care, and care for vulnerable populations in the Philadelphia community
Announcements of 'optimization' efforts and a leadership shuffle, masking the underlying cost-cutting agenda
Staffing cuts begin, with noticeable declines in service quality and increased wait times for patients
Major service cuts and quality issues emerge, with patients experiencing longer wait times, reduced access to care, and potentially poorer health outcomes
Potential bankruptcy or hospital closure, leaving the vulnerable Philadelphia communities without access to essential healthcare services
Other companies that followed a similar path after PE acquisition
Advocate for the preservation of Hahnemann University Hospital's essential services and its role as a safety-net provider for the Philadelphia community
Monitor closely for any declines in service quality, staffing levels, or access to care, and be prepared to voice concerns to local officials and the media
Consider seeking care at other healthcare providers in the region that may be less impacted by Cerberus' cost-cutting tactics
Community-focused healthcare
Integrated managed care consortium