Tim Walsh, president and CEO of Martha's Vineyard Hospital in Oak Bluffs, Mass., has expressed cautious optimism regarding the hospital's fiscal year-end profits, according to a Martha's Vineyard Times news report.
The hospital moved to a new building at a cost of nearly $48 million but struggled to remain financially viable, mainly due to emergency room procedures that could not be transferred to the new facility. Since then, Martha's Vineyard Hospital has implemented new emergency department policies and brought on new equipment and employees. As a result, the hospital ended the fiscal year in March with operational profits of $155,620.
However, while Mr. Walsh is proud of the accomplishments, he has already expressed some concerns over whether the hospital will continue to prosper under future changes in healthcare, according to the news report.
Read the news report about Martha's Vineyard Hospital.
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The hospital moved to a new building at a cost of nearly $48 million but struggled to remain financially viable, mainly due to emergency room procedures that could not be transferred to the new facility. Since then, Martha's Vineyard Hospital has implemented new emergency department policies and brought on new equipment and employees. As a result, the hospital ended the fiscal year in March with operational profits of $155,620.
However, while Mr. Walsh is proud of the accomplishments, he has already expressed some concerns over whether the hospital will continue to prosper under future changes in healthcare, according to the news report.
Read the news report about Martha's Vineyard Hospital.
Related Articles on Hospital Finances:
Summit Park Hospitals Lost $10M in 2010; Programs May Be Cut or Eliminated
New York Work Group Tasked With Saving Cash-Strapped Hospitals
Florida's Lakeland Regional to Lay Off 133 Workers