The downgrade is based on a variety of factors, including the medical center’s third consecutive year of weaker operating performance and greater-than-expected declines in liquidity following the construction of a new outpatient center on its main campus in fiscal year 2016.
The outlook is negative, reflecting Moody’s Investors Service’s expectation CRMC will face ongoing challenges with respect to operating performance if the medical center’s cash flow cannot cover its operating expenses.
More articles on healthcare finance:
Moody’s revises Tampa Bay General Hospital’s outlook to stable
UF Health Shands Hospital adopts new policy to minimize debt
Oregon Advanced Imaging selects McKesson for RCM
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
