The chairman of Franklin-based Community Health Systems shared with business leaders today the acquisition of Triad Hospitals has been key to the company’s growth.
Community Health is now the largest publicly-traded hospital operator in the country with 120 facilities. Wayne Smith says geographic diversity has helped the company balance out fluctuating reimbursement rates with Medicaid.
“By being spread out in 29 states, if any one particular state has a problem with Medicaid, it’s good for us because no one state is all that problematic.”
When Community Health purchased Dallas-based Triad in 2007, the company added 54 hospitals. Now Texas has become the company’s largest revenue producer. Smith says Community Health’s rural strategy also continues to work. At least 65 percent of its facilities are the only hospitals in town.
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