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Auburn Memorial Hospital enjoys Largest Annual Gain in its History
AMH made the latest in a string of positive financial announcements and it was the biggest one to date. The hospital posted a $3.1 million operational gain in 2008, according to hospital officials. This is also the second year in a row the non-profit hospital has posted a gain, as it made just less than $1 million in 2007.
The only other year when AMH saw positive returns in the last decade was 2003, when it gained $300,000. The reason for such a large increase in gains, according to AMH Chief Financial Officer John Baran, was the large increase in patients admitted by local doctors.
In past years, local doctors had sent many of their patients to other hospitals in the region, he said. “The physicians were extremely supportive in 2008,” Baran said. “As a result, we can now re-invest that into this hospital.”
The announcement continues the string of good news that has followed years of financial turmoil. AMH had posted significant losses and amassed large amounts of debt before filing for Chapter 11 bankruptcy in April 2007. The hospital emerged from bankruptcy during the summer.
Since then, AMH has announced improvements to its maternity and mental health units, as well as its operating rooms. A $3.1 million gain is not common for a 99-room hospital such as AMH, especially one that is a non-profit organization. However, all of the gains are invested directly back into the organization, Baran said.
As of now, the hospital is planning to invest in an information technology project, infrastructure updates and other upgrades. “Every single dollar is re-invested into this hospital to serve the community,” Baran said. “Nothing is going out to investors.”
But Baran also said two years of financial success does not mean the hospital is back to where it needs to be.
While the 2009 budget has some modest increases, AMH must continue these types of gains for a while to fully recover from its “prior sins,” he said. “We had 15 years of dismal financial performance,” Baran said. “We need these kinds of results for several years.”
The hospital announced this month that it has completed a remodel and system upgrade of its operating room. The facility now features state-of-the-art technology, making it the latest of many facelifts the hospital has received over the past year.
Fittingly, the hospital's clinical staff performed the first surgery in the operating room Friday on a former AMH nurse. And not only will there be more operations in the new room, but the hospital is working on opening more.
“The (updated OR) provides a new level of medical care while allowing us to increase the productivity of our staff, reduce our overall operative costs and ... improve procedural efficiency,” Emilie Hauger, AMH nurse manager of surgical services, said in an announcement.
Known as an i-Suite, the new facility is custom designed for the hospital. The high-definition unit is connected through a central control system that improves efficiency and precision during surgery, according to AMH. The project was partially funded through a state HEAL NY grant, with the remaining money raised through private foundations.
According to Hauger, the new system will shorten the length of operations, thus making sure patients will not have to be under anesthesia for too long. The operating room is also ergonomically sound, she said. “This is beneficial for both the patients and the physicians,” Hauger said.
The new operating room will be one of three at the hospital, two of which are expected to open next year, according to AMH. The units are the most recent of numerous upgrades the hospital has unveiled since emerging from bankruptcy last year. Other improvements include a renovated inpatient mental health unit, improved maternity care and the Finger Lakes Weight Loss program.
The new room, according to Hauger, re-affirms the hospital's commitment to providing high-quality health care to the community. And it seems like she is not the only one who believes that. Judy Dove, who retired as nurse manager of AMH's psychiatric unit in October after 25 years with the hospital, did not look far when scheduling a surgical procedure. She was the first patient to undergo an operation in the facility last week.
Though Dove was recovering from the procedure over the weekend and could not be reached, she said in a release that it was “very exciting” to be the first person.
“I wouldn't want to go anywhere else for my surgery,” Dove said.
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