|
Children's Hospital Boston announced today that it generated an operational surplus in FY'04 of $19.6 million on total revenues of $778.5 million. This is the third year in a row the hospital has generated an operational surplus, indicating that operations have fully recovered from an eight-year period of losses.
''We are pleased that our performance has stabilized and will continue to conduct hospital operations in a way that maintains that stability,'' said Sandra Fenwick, chief operating officer at Children's. ''Regaining our financial health is crucial to our goal of improving the quality of and access to our care.''
Children's long-term strategy calls for expanding access and improving convenience by locating some of its services into surrounding communities. To that end, the hospital announced this September its plans to purchase of Sterling Medical Center in Waltham. In addition, the hospital is currently in discussions with NEMC's Floating Hospital for Children regarding a formal partnership between the two entities. Such opportunities are designed to help decompress the Longwood Campus, where outpatient visits have grown by more than 70 percent in the last 10 years. On an inpatient basis, Children's has invested in a new Clinical Expansion Building due to open in July 2005. The new building will be home to the latest in intensive care, surgical and diagnostic technology and is specially designed to better accommodate parents who wish to stay at their children's bedside during hospitalization.
|
