Temple University’s board of trustees said Friday that it had appointed four new members to the board of the Temple University Health System as part of a restructuring announced last week.
The new direction could include the sale of Fox Chase Cancer Center and Jeanes Hospital, and will likely reshape the health system’s clinical and research programs, writes Harold Brubaker at philly.com.
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With its main hospital in North Philadelphia, Temple has for decades been forced into the role of a safety net for poor neighborhoods. That means it must contend with unavoidable financial strain from patients who are uninsured or rely on Medicaid for health insurance.
Without special aid from the state that is negotiated every year, Temple would face steep annual losses. Even with a substantial transfer from the state this year, it’s uncertain if the system will eke out a budgeted $5 million profit on revenue of more than $1.6 billion, health system officials said on a conference call with municipal bond analysts Friday.
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