Maimonides Slips as Volume Declines

Crain's Health Pulse
May 18, 2015
Maimonides Slips as Volume Declines

Maimonides Medical Center lost $6.9 million from hospital operations in 2014 after a $1.5 million profit in 2013 as inpatient discharges and outpatient visits both dropped. Discharges, excluding newborns, were down 4.2%, to 36,256, and outpatient visits, excluding psychiatry, dropped 5.7%, to 149,066, according to operating data released May 15. Discharges related to general medicine, as opposed to a surgical specialty, fell 10.2%. The hospital performed 14 fewer surgeries, with declines in the vascular and thoracic specialties. Operating revenue at the hospital fell less than 1%, and expenses rose less than 1%. Both were $1.1 billion. After investments and other items, Maimonides had a $10.4 million surplus, according to financial statements released April 30. Its physician practice, formed in August 2013, lost $3.4 million even as revenue increased tenfold, to $6.9 million, from $621,000 in the five months it was open in 2013. The hospital has been engaged in a three-year strategic alliance with Montefiore since 2013 and signed a memorandum of understanding with North Shore-LIJ in February to explore a partnership

Focus onHealth TV

Watch Focus onHealth, Northwell Health's TV show. It's the healthy way to stay informed!