WellSpan Health today announced that Fitch Ratings has once again affirmed the healthcare system’s bond ratings as stable, recognizing the organization’s leading position in central Pennsylvania. Earning stable bond ratings affords the financial flexibility to invest in new facilities, innovative technologies and people to deliver on the promise of exceptional care at the lowest cost to patients while investing in the community. WellSpan has maintained an AA- bond rating since 2007.

Fitch Ratings, a credit rating business that provides financial research on bonds and other debt securities to help illustrate an organization’s financial well-being, has issued a stable outlook for WellSpan Health’s AA- bond rating, pointing to “WellSpan’s strong financial profile that is expected to be sustained even through a stress scenario” and despite the ongoing challenges facing the health care industry.

“The efforts to maintain our health system’s financial performance is affirmed through this strong bond rating that attests to WellSpan’s strategy and execution especially as the industry as a whole face ongoing financial challenges,” said Laura Buczkowski, executive vice president and chief financial officer, WellSpan Health. “This assessment reinforces WellSpan as being exceptionally well-positioned to provide the best quality, experience, and lowest cost for our patients.”

The Fitch report says that despite WellSpan’s operating performance softening in recent years due to challenges facing the industry as a whole, its senior leadership team has a track record of producing solid operating results with performance expected to improve to levels more consistent with historical trends for the health system. 

“We are focused on operational excellence, while being fiscally responsible and making strategic investments to enhance care for our patients. Our teams consistently work to transform today’s healthcare system to exceed the expectations of our patients and communities,” said Roxanna Gapstur, Ph.D., R.N., president and CEO, WellSpan Health. “As we welcomed WellSpan Evangelical Community Hospital into our organization this year, we are 23,000 strong with a commitment to our mission and the communities we serve.”

WellSpan’s ongoing strategic partnerships with Hippocratic AI, Zipline, AiDoc, Emerus, General Catalyst, Truveta, Helix, Nuance and CRDC USA, among others, highlight the organization’s commitment to innovative approaches and vision to reimagine health care. 

To meet the rapidly growing demand for health care services across central Pennsylvania, WellSpan has invested in critical infrastructure projects such as building three new neighborhood hospitals in Shrewsbury, Newberry and Carlisle; and expanding access to care in Lancaster County with a new ambulatory surgical center. WellSpan is strategically investing in WellSpan York Hospital as the tertiary and complex care center of choice in central Pennsylvania. Efforts to incorporate sustainable solutions while keeping the majority of contracting work local have been successful in bringing new jobs to the communities across the region. 

Fueling the pipeline for health care professionals, WellSpan recently signed a memorandum of understanding  to establish a new regional medical school campus in York County. The new Jersey College’s School of Nursing at WellSpan will offer an associate degree in nursing to address the national nursing shortage. Additionally, WellSpan is building new residency programs across various specialties to educate the next generation of medical providers. 

WellSpan is committed to the communities it serves and works to make health care accessible by addressing barriers to care such as language and cultural resources, expanding telehealth opportunities, extending financial assistance for eligible patients, and collaborating with partners to bring such support directly to the community. In the last year, WellSpan had more than a $5 billion economic impact on the central Pennsylvania region with more than $400 million in community benefit as noted in its annual Community Benefit Report.

To learn more about WellSpan’s continued growth and community contributions, visit www.WellSpan.org/News.