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Article: Orange Coast Memorial looks to sustain profit momentum
- Article from:
- Orange County Business Journal
- Article date:
- February 5, 2001
- Author:
CopyrightCopyright CBJ, L. P. Feb 5-Feb 11, 2001. Provided by ProQuest LLC. (Hide copyright information)
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Orange Coast Memorial Medical Center has gone from losing more than a million dollars a month to its first monthly profit in more than two years-without layoffs.
The key to the turnaround, say hospital officials, was the renegotiation of managed care contracts. And the hospital hopes that those contracts, plus a new doctor-group affiliation that allows it to offer more services, will keep it in the black in the months to come.
The 230-bed Orange Coast Memorial reported steep operating losses over the past couple of years. The facility posted net losses from operations of $13.6 million in 1999 and $14.3 million in 1998, according to the Business Journal's most recent hospital list. Net ...