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Cone Health executes $100M turnaround

June 14, 2024
Becker's Hospital Review
Summary
**Cone Health's $100 Million Financial Transformation** Cone Health, a North Carolina-based health system, achieved a $100 million financial turnaround by reducing contract labor by 48%, hiring international nurses, and creating a systemwide float pool and internal travel agency. Improvements included addressing workplace safety and establishing a value-based care institute alongside a partnership with Palantir to automate staff scheduling. These changes cut $60 million in spending last year, with another $40 million reduction underway. Cone Health plans to invest $150 million in community health initiatives over the next five years, highlighting its commitment to financial strength and community service.
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