Turnaround time. A financially troubled Philadelphia hospital goes out of the red and into the black.
Health Prog
; 72(3): 57-61, 1991 Apr.
Article
em En
| MEDLINE
| ID: mdl-10109970
ABSTRACT
A large Medicare population, a higher than average length of stay, an aging medical staff, and difficulty in retaining professional staff were a few of the indications that Nazareth Hospital, Philadelphia, was headed for financial difficulties. Unfortunately, Nazareth leaders overlooked these warnings because the hospital was concentrating on a major construction project. In 1989 the hospital lost approximately $5 million from operations, resulting in debt covenant violations on a $33 million bond issue. Nazareth then adopted a revitalization program with the following basic components Establishing extensive cost-cutting measures to help reverse the financial deficits Retaining outside consultants to serve as management advocates and to keep the repositioning effort moving forward Enhancing long-range strategic planning to lay firm groundwork for the hospital's future As a result of these efforts, Nazareth went from a fiscal year 1989 operating loss to a 1990 year-end break-even position. Nazareth leaders attribute this success to the total commitment by the involved constituencies board, managers, medical staff, and employees.
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Coleções:
01-internacional
Base de dados:
MEDLINE
Assunto principal:
Administração Financeira de Hospitais
Tipo de estudo:
Health_economic_evaluation
País/Região como assunto:
America do norte
Idioma:
En
Revista:
Health Prog
Assunto da revista:
HOSPITAIS
/
SERVICOS DE SAUDE
Ano de publicação:
1991
Tipo de documento:
Article