Pennsylvania's Memorial Hospital Turns 2010 Losses Into 2011 Profit

After posting a $2.8-million operating loss in fiscal year 2010, Towanda, Pa.-based Memorial Hospital turned its finances around and recorded a net profit of $685,000 in fiscal year 2011, according to a Daily Review report.

Memorial Hospital CFO Bill Rohrbach said revenues were up 7 percent in 2011 compared with 2010, and the hospital's expenses dropped by 1.6 percent, according to the report.

Gary Baker, CEO and president of Memorial Hospital, attributed the turnaround to controlling costs, an additional $1.4 million in governmental reimbursement and an increase in patients using the physician practice owned by the hospital, according to the report.

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