BMC Reports 3rd Quarter Financial Results
Contact: Ellen Berlin, 617-638-8491 | firstname.lastname@example.org
(Boston) – Boston Medical Center (BMC) has reported financial losses for the first nine months of FY04. In the nine month period ending June 30, 2004, the net operating loss was $1.037 million. In the same nine month period in FY03, BMC reported a net operating loss of $3.079 million.
In the third quarter of FY04, BMC posted a $3.176 million operating gain compared to a $1.171 million operating loss in the same quarter last year. The hospital’s revenue grew 9.8% to $170,588 million, up from $155,337 million in the same quarter of FYO3.
In this quarter, discharges were 9% over budget The improved financial performance can be attributed to increasing volume, the impact of changes made in the OR scheduling process, maintaining nursing staff levels, clinical changes in the pharmacy, and significant savings in material management.