OVHS&E’s President and CEO George Couch attributed the $3.68 million turnaround in the first quarter mainly to fewer employees. Renegotiations in third-party contracts and lower expenses for equipment, supplies and food also helped the system improve its finances, according to the report.
Mr. Couch told The Intelligencer the system currently owes approximately $18 million in short-term debt and lost nearly $6.8 million in 2010.
Read the Intelligencer report on Ohio Valley Health Services and Education Corp.’s finances.
Read more coverage on hospital finance and business news:
– Iasis Issues $2.17B in New Debt
– Providence Hospital Eliminates 35 Jobs as Part of Cost-Cutting Plan
– Moody’s: Rating Volatility in Healthcare At Lowest in 10 Years
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