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Financial Outlook

Positive performance allows CHB to reinvest in its future The challenges ahead


 


FY 1998-2002 revenue

FY 2003 revenue

2003 revenue sources

2003 expenses



Related link:
Dialogue with
CFO David Kirshner

 


Three of the most crucial financial challenges Children's faces in 2004 and beyond:

The rising cost of providing care due to:

  • The continued challenge of recruiting and retaining the best and brightest doctors, researchers and nurses
  • The need to invest in information technology
  • The increasing cost of medical supplies, pharmaceuticals, blood supplies and energy

Continuing to win fair reimbursement from government and private payors

  • State and federal reimbursements for Medicaid patients have not kept pace with medical inflation. In addition, public health programs that benefit our patients have been cut significantly over the past several years and will take work to restore.
  • Because employers continue to be very sensitive to health insurance costs, HMOs in Massachusetts will continue to try to limit premium increases—which also means limiting payments to hospitals and doctors.
Catching up on capital expenditures
  • For the eight years that the institution ran a deficit prior to 2002, investments in the physical plant and equipment had to be deferred. With a second year of surplus, the hospital is now able to make delayed and new investments such as the New Research Building and the Clinical Expansion.

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