Pennsylvania Hospital [SEP] parent company
Pennsylvania Hospital
Pennsylvania Hospital is a private, non-profit, 515-bed teaching hospital located in Center City Philadelphia and affiliated with the University of Pennsylvania Health System. Founded on May 11, 1751, by Benjamin Franklin and Dr. Thomas Bond, Pennsylvania Hospital is the earliest established public hospital in the United States. It is also home to America's first surgical amphitheatre and its first medical library. The hospital's main building, dating to 1756, is a National Historic Landmark.
History.
Pennsylvania Hospital was originally conceived
instead be paid an all-inclusive fee to maintain the health of the patient (thus incenting the health care provider to focus on the overall health of the patient and preventive care so as to avoid more costly hospital care). In the mid-1970s, he left R.H. Medical and with the aid of $3 million in federal loans, he founded a non-profit HMO, "HMO of Pennsylvania." In 1981, he abandoned the company's nonprofit status and in 1983, he took the parent company, renamed U.S.