Detroit Medical Center CEO Positive About Future Despite Vanguard Losses

Over the past two fiscal quarters, Nashville, Tenn.-based Vanguard Health Systems reported net losses of $9.9 million and $19.2 million, but Mike Duggan, CEO of Vanguard-owned Detroit Medical Center, said the hospital is moving in the right direction, according to a Crain’s Detroit Business report.

Advertisement

Mr. Duggan said volumes and hires have grown at DMC, although he did not provide specific figures, according to the report. Additionally, DMC is embarking on its five-year, $500-million capital improvement plan that includes projects such as emergency department expansion and the DMC Cardiovascular Institute.

DMC has also looked into lean manufacturing principles to cut costs and has switched some staff positions into patient care, according to the report.

Related Articles on Detroit Medical Center and Vanguard:

Vanguard Health Systems May Fall Short With Construction Promises for DMC

Detroit Medical Center CEO to Make $2.41M in Total Compensation

Detroit Medical Center CEO Says Patients, Physicians Returning to System After Vanguard Buyout

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.