SAVANNAH, GA (WTOC) - Profits are up according to Memorial Health CEO Maggie Gill. In less than six months, revenue collections are up by 8 percent.
This is after memorial hired an outside company to look at how to increase the struggling hospitals revenue. Gill took over as interim CEO in Jan. 2011. When she took over she was faced with trying to improve a $28 million operating loss, which means they were spending more money then they were bringing in.
Over the past several months she has restructured Memorial's leadership team, as well as changed the hospitals billing and collection processes. She says they decided to partner with Conifer Health Solutions to look at revenue cycle, contracts, and cost control. She says that was the right decision and it helped get the hospital out of the red.
"I love this place and it gives me tremendous pleasure to see our success. Now, it's very thin and we have a ways to go. It doesn't take much to wipe that away so we need to continue on the strategies in place and press on to strengthen the organization," said Gill.
Gill says the board is working on developing a capital plan. They are looking at ways to invest in infrastructure and growth strategies, and return benefits to employee who haven't had a raise in several years.
She says her main goal is taking care of the 5,000 employees. Patient revenues are also up 6.5 million.
Memorial Health net income is now 1.4 million as opposed to last year they were loosing 17.4 million.