UPDATE: Hospital president to leave after parent group reports loss

Rhode Island Hospital and Hasbro Children’s Hospital President Margaret Van Bree is seen at the 2019 Hasbro Hospital Radiothon. It was reported on December 4, 2019 that Van Bree would step down at the end of the year after the hospitals’ parent, Lifespan reported a $55 million 2019 operating loss. Photo by Steve Klamkin WPRO News

By WPRO News and The Associated Press

Margaret Van Bree, the president of Rhode Island Hospital and Hasbro Children’s Hospital will leave at the end of the year, the Boston Globe reported on Wednesday, in the wake of losses by Lifespan, the parent of the group that owns both hospitals and others in Rhode Island.

It comes after the chief of Rhode Island’s largest hospital group said the system will look to cut costs after finishing the 2019 fiscal year with a net loss of $35 million.

Lifespan President and CEO Timothy Babineau said Wednesday those measures include an early retirement plan. He says layoffs will be a last resort.

Babineau attributed the loss to several factors, including a dramatic reduction in Medicare funding following a change in the federal government’s formula for determining rates.

Lifespan operates Rhode Island Hospital as well as Miriam, Newport and Bradley hospitals and is the state’s largest private employer.

This story has been updated to reflect Margaret Van Bree’s reported departure. 

 

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