- BHSH system will now go by the name Corewell Health, according to a Tuesday release.
- The health system was created in February following a merger between Spectrum Health and Beaumont Health, two Michigan-based nonprofit systems.
- A rollout of the new name and signage will start soon and is planned over the next two years, according to the release.
BHSH was intended to be a temporary name for the system, which officially merged this February.
It has a major presence in the state of Michigan, with 22 hospitals, a sizable outpatient business, a health plan covering 1 million people and combined revenue of $13 billion.
Following the merger, Beaumont’s president John Fox announced plans to leave the organization, and that his replacement would serve as president of the newly combined system.
The system announced in June that it appointed Benjamin Schwartz, a former Northwell Health executive, as its new president.
In the first half of this year, the system’s operating income, including state and federal funding, was about $120 million, as is fell short of its $156 million projection, according to financial documents.
The legacy Beaumont Health division posted an operating loss of $96 million through June 30 and the Spectrum Health division posted operating income of about $140 million, exceeding earlier projections.
In September the system also announced it planned to cut 400 jobs in management roles amid financial pressures. The cuts represent less than 1% of the health system’s workforce, which employs 64,000 people.
“Our health system, like others around the nation, is facing significant financial pressures from historic inflation, rising pharmaceutical and labor costs, COVID 19, expiration of CARES Act funding and reimbursement not proportional with expenses,” the system said.