Ostra Outlines ProMedica’s Role In Economic Development
ProMedica’s role in economic development throughout Northwest Ohio and Southern Michigan is so important to its mission that a committee of its Board of Directors has been established.
That was part of the message delivered recently (March 3) at the annual meeting of the Northwest Ohio Regional Economic Development Association (NORED) by Dr. Randy Oostra, president and chief executive officer of ProMedica, which manages 332 sites including 12 hospitals in 27 counties, more than 16,000 employees and 800 physicians and 4.7 million patient encounters annually.
He said ProMedica had $3 billion in revenues last year and although is a non-profit organization plans for 3% operating margin a year which it uses to invest in new capital projects.
“Last year, ProMedica invested $90 million in our communities,” Oostra noted.
He said health care represents 16.6% of Gross Domestic Product in the U.S. today, and is projected to grow to 22% of GDP by 2039.
“Our mission is improving your health and well-being,” he explained.
He said ProMedica is investing in programs like a downtown Toledo food market, teaching kitchen and job training center to help alleviate hunger as a health issue.
He noted that 35% of U.S. households with single mothers and children go hungry and an estimated 31% of seniors skip meals because they can’t afford them.
ProMedica has joined with AARP as founding members of The Root Cause Coalition to bring together healthcare leaders, health insurers, and other industry organizations to focus on hunger and social determinants of health.
Oostra said he agrees with a saying that nobody is coming to save you; you need to save yourself, and that was part of the reason why ProMedica plans to establish its headquarters for 1000 persons in the former steam plant in downtown Toledo. He explained that everyone wants downtown Toledo to be a vital destination, and
ProMedica hopes its commitment to the downtown will help make that happen.
Groundbreaking is scheduled for April on construction of the newest addition to The Toledo Hospital which will be the single capital investment ever for ProMedica.
NORED represents economic development practitioners and partners spanning 12 counties throughout Northwest Ohio.