Palm Drive hired HealthTech Management Services in Aug. 2009 to help turn the hospital around, according to the report. The hospital pays HealthTech roughly $720,000 per year for management fees as well as the hospital CEO’s and CFO’s salaries and benefits.
The board of directors reported the hospital was down more than $1.7 million this past year, but the management firm defended its performance, saying it helped the hospital out of bankruptcy and helped the hospital start new initiatives such as a new physical therapy center, according to the report.
Related Articles on Hospital Management:
White County Medical Center in Arkansas No Longer Hiring Smokers
Kent Hospital First in R.I. to Stop Diverting Ambulances From ER
Virginia’s Inova Utilizes Church Volunteers to Reach Underserved
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.
