UMass hospital system posts $92m surplus
December 28, 2009 09:01 AM
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UMass Memorial Health Care Inc., the dominant hospital system in central Massachusetts, posted a $91.6 million surplus during the recently completed fiscal year by cutting costs, deferring purchases, treating more patients and reversing investment losses.
Hospital officials say the surplus for the fiscal year that ended Sept. 30 was up 65 percent over the previous year.
President and chief executive John O'Brien tells The Telegram & Gazette the system was able to generate a surplus despite a rough start to the year.
O'Brien said the system boosted hospital admissions by about 2,000 from the previous year as UMass Memorial sought to capture patients and procedures that otherwise likely would have gone to Boston hospitals.
The system runs hospitals in Worcester, Fitchburg, Leominster, Clinton, Marlborough and Palmer.
Hospital officials say the surplus for the fiscal year that ended Sept. 30 was up 65 percent over the previous year.
President and chief executive John O'Brien tells The Telegram & Gazette the system was able to generate a surplus despite a rough start to the year.
O'Brien said the system boosted hospital admissions by about 2,000 from the previous year as UMass Memorial sought to capture patients and procedures that otherwise likely would have gone to Boston hospitals.
The system runs hospitals in Worcester, Fitchburg, Leominster, Clinton, Marlborough and Palmer.
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