St. Joseph Health, Orange, Calif., reported it lost more than $16 million from operations in its most recent fiscal year. But its new affiliation with a regional provider wasn't the cause for the decline.
In March 2013, St. Joseph and Hoag, a two-hospital system based in Newport Beach, Calif., created a new system called Covenant Health Network. Covenant brought in Hoag's hospitals with St. Joseph's five in Southern California with the intent of building an integrated delivery system in the region. St. Joseph owns a total of 14 acute-care facilities in California and Texas.