Mai­monides posts loss on lower pa­tient vol­ume

Modern Healthcare - - REGIONAL NEWS - —Beth Kutscher

Mai­monides Med­i­cal Cen­ter posted a higher-than-ex­pected op­er­at­ing loss as pa­tient vol­ume de­clined in the first half of the year.

The New York City hos­pi­tal saw 3.7% fewer dis­charges in the first six months of 2014, com­pared with the year-ago pe­riod, and 3.6% fewer emer­gency de­part­ment vis­its.

Out­pa­tient vis­its in­creased 7.6% yearover-year, ac­cord­ing to a re­cent fi­nan­cial re­port filed for bond­hold­ers.

With 679 beds, Mai­monides is the fourth-largest hos­pi­tal in Brook­lyn, a bor­ough that wres­tles with poverty and has strug­gled to keep com­mer­cially in­sured pa­tients from trav­el­ing across the river to Man­hat­tan for med­i­cal care. Lo­cated in Bor­ough Park, home to one of the world’s largest Ortho­dox Jewish com­mu­ni­ties, it has per­formed bet­ter than its peers and has ex­plored an af­fil­i­a­tion with at least one ail­ing crosstown provider.

For the first half of 2014, Mai­monides re­ported a loss of $3.1 mil­lion com­pared with a sur­plus of $141,000 dur­ing the same pe­riod last year. Rev­enue to­taled $520.4 mil­lion, up 1.4% from $513 mil­lion in the year-ago pe­riod.

The hos­pi­tal did not break out its payer mix. How­ever, it did note that its case mix in­dex—or the acu­ity of its pa­tients—was higher com­pared with last year.

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