Two large hospitals in Reno, Nev., saw a combined loss of more than $68 million for the 2010 year, according to a Northern Nevada Business Weekly report.
Renown Regional Medical Center lost $24.1 million and Saint Mary’s Regional Medical Center lost more than $44.5 million in 2010.
Combined, the losses of Renown and St. Mary’s more than offset profits at four other acute-care hospitals in Reno, Sparks and Carson City. Together, the six hospitals saw a $27 million loss for the year compared to a combined loss of approximately $100,000 in 2009.
“Even though we saw our financials improve in the fourth quarter of last year due to the excellent medical management by our hospital physicians, we continue to struggle financially like most of Nevada’s hospitals due to the economic recession,” Mike Uboldi, president and chief executive officer of Saint Mary’s, said in the report.
Read the Northern Nevada Business Weekly report on Reno hospitals.
Read more about hospital finances:
– Mayo Clinic Publishes 2010 Financial Results
– Texas’ Methodist Posts 2011 Q1 Results, Total Operating Revenue Up $22.2M From Last Year
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.
