The County Commission is set to act next Wednesday to approve the move by Erlanger Health System to an independent non-profit hospital.
It will be known as Erlanger Health under the new setup.
The change was approved earlier by the General Assembly and the governor.
Jim Coleman, new Erlanger president and CEO who has been serving on the hospital board, said the process began some 18 months ago.
He said it will allow the hospital "to be more flexible and nimble. It's about securing the hospital's future. I think it will solidify Erlanger for years to come."
Mr. Coleman said under the new designation that Erlanger will no longer be eligible to participate in the Tennessee Public Hospital Supplemental Pool. The payment received from the Pool to Erlanger was $25 million in 2021 and is expected at $29 million in 2022. However, he said the pluses "far outweigh" this and other negatives of the move.