A Chicago community hospital threatened with closure two years ago has made a financial comeback, even after separating from a major nonprofit health system.
Saint Anthony Hospital has grown its business during its first year as a stand-alone hospital, after cutting it's ties with Ascension Health, the nation's largest Catholic and largest nonprofit health system.
The 166-bed hospital serves a densely populated swathe of neighborhoods on Chicago's west and southwest sides.
"We believed we were well-positioned to succeed, and we were absolutely right," said Guy A. Medaglia, St. Anthony's President and CEO. "We are maintaining continuity and quality in an urban area where community hospitals are scarce. By remaining open, we saved 1,000 Chicago jobs."
Medaglia said Illinois hospitals are continuing to close or be absorbed. He noted that, since 2006, two Chicago-area hospitals closed and three joined larger systems.
"Like most hospitals - especially safety net hospitals - we experienced major challenges over the past year," Medaglia said. He said the largest obstacle was the loss of $1.5 million in reimbursements since September 30, 2009. The losses were driven in part by the end of the CMS Section 1011 Program, which covered emergency care costs for undocumented immigrants.
Through the 12 months ending March 2010, Saint Anthony Hospital showed a reported operating income of $2,428,000 against a budget of $451,000; in fiscal year 2009, it was $3,811,000 against a $75,000 loss.
During the same period surgeries were up 18 percent; observation admissions rose 26 percent; deliveries increased 4 percent; adjusted discharges were up 2 percent; and charity care rose 20 percent.