In FY 2010, the hospital lost $6.5 million. Saint Vincent’s CEO Scott Whalen said the hospital still has roughly $123 million in cash on hand, according to the report. He also cited low reimbursements from health insurers, a decline in patient admissions and increases in charity care and bad debt as reasons for the loss.
The hospital plans to find $30 million in savings during the next fiscal year, and roughly 50 job openings will not be filled, according to the report.
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