A local hospice is using its own money to help cover the costs of treating and managing patients at a community health center.
The local hospices in town recently agreed to build a health center and a nursing home for elderly patients at the H-E-B plant in Elgin, Illinois.
The company says it is making about $3.5 million to $4 million a year in profits from the project.
The project will cost $4.5 to $5 million.
“We’re going to be able to make a lot more money if we’re building a facility that’s much more robust and more durable and better staffed,” said Mark DeAngelis, the general manager of the Elgin facility.
The hospital is in need of additional beds and the facility will house patients from other nearby hospitals, and there will be room for additional care.
DeAngelas says the facility is also expected to make about $200,000 in annual revenue.
“The hospice in Elbridge is going to make over $1 million,” he said.
He added that the hospice will be the only one that has an income.
Hospice is not an established health care industry, but is a popular way for seniors to access hospice care.
A 2014 study by the Institute of Medicine estimated that approximately 25 million Americans were eligible for hospice, but that only 10 million received care in the most intensive care units.
A 2015 report by the Centers for Medicare and Medicaid Services estimated that 1 in 6 Americans aged 65 and older could not be home by the end of this year due to their own health conditions or disability.
“People are dying of a variety of causes,” DeAngeles said.
“And this facility will help them, for better or worse.”