CEO Jerry Fedele previously said two years of cost-cutting and reinvestment would make the institution financially viable once again.
The hospital suffered a $120 million loss in 2007-2008 following a failed plan to reinvent itself as a major academic hospital. Boca Raton board members considered selling or even closing the hospital.
Mr. Federle said the hospital has achieved its financial turnaround by eliminating 190 positions, focusing more on core strengths and increasing its number of referring physicians.
Read the Palm Beach Post article on Boca Raton Community Hospital.
Read more on hospital finances:
–Making Hospital Bills More Patient-Friendly
–Four Trends in Real Estate Investment Trusts
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.
