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Friday, May 24, 2024

Cone Health to invest $150 million in underserved health

Greensboro-based Cone Health says it’s investing $150 million over five years to address health disparities in east Greensboro and other underserved areas in North Carolina.

The funding will go toward areas in Alamance, Forsyth, Randolph, Rockingham and Guilford counties with disproportionately high rates of preventable illnesses. These efforts continue Cone Health’s “CATCH 5 in 5” plan which aims to close the 15-year life expectancy gap in underserved areas by five years, within five years. That gap is the difference in the average lifespans of residents of wealthier neighborhoods versus areas with more poverty.

In January, the Duke Endowment awarded the not-for-profit healthcare system a $1.2 million grant to aid health equity efforts in Rockingham County and east Greensboro.

Cone Health will partner with the City of Greensboro to reconstruct and remodel existing facilities to host health and wellness programs and a community health hub. It plans to construct a medical office complex in east Greensboro with urgent care, primary care, pharmacy, radiology, and lab centers.

“Good health is essential for thriving, vibrant communities,” Mae Douglas, Cone Health Board of Trustees chair, said in a release. “And good health begins with people being able to find health care in their community. This investment will bring much-needed services to these areas and renews Cone Health’s promise of better health and longer lives for all.”

After establishing these programs, Cone Health expects to work with key stakeholders to conduct research to address specific needs within these communities.

Cone Health said it is too early to determine how the investment will be spent. In 2023, it invested $72 million to construct a Cone Health MedCenter in Asheboro, which is expected to open in November.

Cone Health is the dominant hospital system in Guilford and Alamance counties with 12,800 employees. It had operating income of $112 million and revenue of $2.8 billion in the 2023 fiscal year, Triad Business Journal reported.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

providing transportation assistance, establishing mobile health clinics, and hosting community health fairs.

In October, Cone Health said it would add several services – including urgent care, primary care and imaging – to its planned cancer center in Asheboro at a cost of $72 million.

Cone Health had annual revenue of $2.8 billion in its 2023 fiscal year, a 11.6% increase from 2022. It is the dominant hospital system in Guilford and Alamance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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