JERSEY SHORE HOSPITAL FINISHES FISCAL YEAR HEALTHY
JERSEY SHORE Wednesday, Oct. 31 - Jersey Shore Hospital
ended the year with a positive operating margin of four percent (+4%) as of
June 30, 2001. Previewing the upcoming annual report to the community, Hospital
officials reported growth in patient volume, new programs and sound budget
performance as the principle reasons for the Hospital's strong financial
finish.
Lou Ditzel, President and CEO for JSH, stated that the
Hospital's leadership is confident and cautiously optimistic in noting that
this year's first quarter mirrors the financial trends seen last year.
He cautioned, however, that healthcare is in a constant
state of change and the events of the past two months will create even more
uncertainty, along with new responsibilities.
"Rural hospitals across the country face more significant
challenges than larger, urban institutions in maintaining financial stability
and Jersey Shore Hospital needs to continue efforts to improve upon past
performance," says Ditzel.
William Williams, Chairman of the Hospital's Finance
Committee and long-standing member of the Board of Directors, noted that the
Hospital experienced improvements across all financial indicators.
"It has taken time to get the hospital to this point, but
the wait was worthwhile and I am confident in the hospital's vision and
direction over the long term," says Williams.
Hubert Valencik, Chairman for the Hospital's Board, agreed
and added that JSH's dedicated staff also is a big part of the hospital's
success.
Hospital officials noted that JSH's goals for the upcoming
year would focus on replacing the hospital's aging infrastructure and pursuing
collaboration opportunities that can enhance all the region's healthcare
resources. JSH is placing significant emphasis on taking advantage of the
government's initiatives to improve rural healthcare. Of particular interest to
the Hospital is the development of networking opportunities with other
providers in the region. The federal Rural Hospital Flexibility Program offers
planning and funding support for such efforts.
"It has been proven through practice that rural settings are
very poor areas in which to rely on competition. Efforts that do not focus on
collaboration and keeping the community's healthcare local tend to show poor
results," says Ditzel.
The Hospital will present a complete annual report to the
community in early December.
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