Citing financial pressure from the COVID-19 pandemic, University Hospital in Augusta, Ga., plans to withdraw from its joint venture with a 400-member physician group, according to a letter obtained by local news station WJBF.
University Hospital notified University Physicians Associates that it will remove its physicians and stop funding for University Health Link, the jointly owned physician-hospital organization that has about 30 managed care contracts.
After University Hospital ends its participation, the physicians group will become completely independent.
University Physicians Associates Chair Chris Carlson wrote in a letter to its members that the hospital made the decision because it is facing a significant financial pressure due to COVID-19.
When University Hospital withdraws Dec. 31, University Physicians Associates will take over the Health Link functions of contracting, credentialing and provider relations.
Mr. Carlson said the goal of transitioning to a completely independent organization is to remain financially strong while maintaining the same services.
Read the full letter here.
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