Monday, February 10, 2014
MetroHealth Moves On From A Healthy 2013
MetroHealth was featured Monday in Crain's Cleveland, as writer Timothy Magaw documented the hospital's climb from red to black in 2013 and discussed Dr. Akram Boutros' ambitious vision for 2014 and beyond. Magaw's opening words are below:
MetroHealth's staff hunkered down after a disappointing start to 2013, but with some intense financial discipline and a healthy dose of optimism from its new CEO, the taxpayer-supported health system in Cuyahoga County finished the year in the black.
And with its finances on stable ground, MetroHealth CEO Dr. Akram Boutros said the health system is gearing up for an eventful 2014, which could include the unveiling of preliminary designs for a dramatic facelift to its main campus, the groundbreaking for a new health center in Brecksville, and a round of hiring.
“We're looking at our progress from the eyes of the taxpayer,” Boutros said. “They'll ask, "Why should I continue to support Metro?' I think today we've demonstrated our commitment to provide exceptional services.”
Boutros inherited an enterprise that finished the first quarter of 2013 about $6.5 million in the hole. But the man who became CEO last June 1 steered MetroHealth to a robust profit, at least by health care industry standards, of $18.6 million for 2013 — a total that surpassed its $15 million goal. That profit represents a 2.2% operating margin on about $844 million in revenue. In 2012, the health system posted a $10 million profit on $773 million in revenue.
“I think we had a good year,” said Tom McDonald, who chairs MetroHealth's board of trustees. “But if you look at where we started, I'd say we had a pretty exceptional year.”
For a look at the full article, click here!