Milford (Mass.) Regional Medical Center's service expansion efforts led to an operating surplus in the fiscal year ended Sept. 30, financial documents show.
Here are eight things to know.
1. The medical center recorded an operating surplus of $178,000 in fiscal year 2017, compared to an operating loss of $7 million in the year prior.
2. MRMC's revenues rose $9 million year over year to $270 million last fiscal year.
3. Hospital officials attributed the growth partially to expanded services and improved patient access through opening new urgent care facilities.
4. Last year, the medical center expanded its neurosurgery, prostate cancer, gastroenterology and vascular surgery services.
5. MRMC also opened three urgent care facilities. The Massachusetts facilities are located in Milford, Northbridge and Hopkinton, and were opened in partnership with their physician practice group, Milford Regional Physician Group, according to the hospital.
6. MRMC officials said other service expansion efforts included adding more physicians in the areas of neurosurgery, gastroenterology and vascular surgery, as well as adding MRI/US prostate fusion biopsy equipment.
7. Hospital officials said amid service expansion efforts, MRMC also closed its inpatient pediatric unit because of low patient volume.
8. MRMC's expenses also rose in fiscal year 2017 compared to the year prior, from $269 million to $272 million.
For more on this story, including the hospitals future renovation plans, read MRMC’s annual report here.
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