Board of Directors reaches partnership decision
In June 2021, the Yuma Regional Medical Center Board of Directors formally began exploring a joint venture with LifePoint Health. Today, after a careful and purposeful due diligence process, members of the Board unanimously agreed to not move forward with an affiliation with LifePoint Health. As it is intended, the months-long due diligence process allows each party to learn more about each other and the potential value of a collaborative partnership. When evaluated with YRMC’s current strengths and vision for the future, the Board made the decision to explore options that will better meet the needs of our community today and into the future.
“Our board entered into this partnership search knowing that we were in a sound position to find the right partner,” said Woody Martin, Chairman of the Board of Directors. “LifePoint shared our deep commitment to keep quality care local. While there were many positive attributes that would have come from this joint venture, at the end of day we determined that the timing and details needed to move this forward were not in the best interest of our hospital and the needs of our community,” added Martin.
YRMC is one of the largest positive operating independent hospitals in the nation. “While we remain strong today, our path as an independent community hospital will become increasingly more challenging,” said Martin. “The realities of constantly advancing technologies, skyrocketing pharmaceutical costs, a growing shortage of skilled healthcare professionals and increased labor costs are even more difficult as an independent hospital,” he said.
The YRMC Board began its search for a partner to also help meet the needs for additional behavioral health services, specialty care and primary care – each important to ensuring a healthy community. While these are significant obstacles, the YRMC Board looks forward with optimism to the opportunity to partner with our community to find innovative, collaborative solutions for the future.
“This has been a very challenging year. We have learned about ourselves in the process. We are a progressive, innovative and forward thinking team. Together our future holds many opportunities,” said Robert Trenschel, DO, President and CEO. “As we head into the close of 2021 and holiday time with family and friends, we want to extend our gratitude to every member of the YRMC team who has remained focused on what matters most – patients, families and the communities we serve.”
In the coming weeks and months ahead, the Board of Directors will work collaboratively with employees, physicians and our community to set forth a positive path forward.