Saint Francis Healthcare System Prices
I am Maryann Reese and I have served as the President and CEO of Saint Francis Healthcare System since the Fall of 2017. While Saint Francis provides best in nation quality and safety, our prices WERE too high compared to our region.
Since I took over in 2017 we have not taken price increases that we were contractually allowed to take, resulting in a price freeze. January 2019, we decreased prices by 15 percent. January 2020 we decreased prices by another 10 percent. The amount of decreases totals $30 Million dollars.
Our system-wide decreases resulted in lower prices for all insurance companies and $10.5 million dollars specifically for United. At the negotiating table with United, I expected United to acknowledge our price reductions….And to extend the savings to our patients and employers. Instead, $10.5 Million dollars ended up in United’s profits. Profits, which totaled $9 Billion, that’s 9 billion with a “b”, for United last quarter alone.
United refuses to give Saint Francis credit for the recent decreases, and proposes we cut prices another $11.5 million dollars. This is unacceptable and jeopardizes our ability to keep our doors open long term. If an agreement cannot be reached, Saint Francis facilities will be out of network with United Insurance beginning March fifth, 2020.
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