CFO John Dragovits reported that hospital’s net income for the fiscal year was $1.1 million, which fell dramatically short of the projected $15.6 million. The financial struggle was attributed to salaries, capital improvements and lost income from trauma care.
Parkland Memorial has also been dealing with federal and public scrutiny of its quality of services. Since last year, the hospital has been embattled in scandal surrounding its infection control and patient safety practices. It was initially in danger of losing its Medicare status but has since entered into an agreement with CMS under which the hospital partnered with consulting group Alvarez & Marsal to help remedy the patient safety deficiencies.
Related Articles on Parkland Memorial Hospital:
Parkland Memorial Board Works to Get Up to Speed on Quality Improvement Efforts
Parkland Memorial in Dallas Names Ronald Laxton Chief Implementation Officer
Parkland Memorial in Dallas Receives Corrective Action Plan From Consulting Group
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