Each Thursday, we put one of our local newsmakers On The Spot.
This week: President, CEO of Auburn Memorial Hospital Scott Berlucchi.
Chapter 11 is a well established legal process that allows an organization to continue to conduct business as usual while its financial house is put in order.
The current Chapter 11 filing by Auburn Memorial Hospital will allow for the restructuring of its significant debt, accumulated over a number of years, and re-emergence as a thriving organization. Our goal is to move through the process as quickly as possible, and the community will be kept up to date every step of the way.
AMH has successfully addressed operational challenges through an 18-month turnaround initiative. We are now profitable in our core operations for the first quarter of 2007.
Restructuring debt accumulated in 2004, 2005 and 2006 is the final step in the turnaround. It will enable us to free up our cash flow to re-invest in the hospital.
We are looking forward to building our program services, recruiting and retaining physicians, and modernizing our infrastructure, which has needed upgrading for some time.
The recently received HEAL NY challenge grant is earmarked for important projects that will update AMH's infrastructure, including the renovation of the Memorial wing, construction of a new surgical center with seven operating rooms, updating our HVAC energy system for significant savings in heating and cooling, and the relocation of the psychiatric unit within the hospital.
These changes will enhance the trust and confidence our community has in the hospital and will greatly improve our ability to recruit and retain the best physicians in a variety of specialties.
Our enhanced profitability will also ensure that Auburn Memorial Hospital is viable for the long-term - we have been serving Cayuga County for 127 years and we will continue to fulfill our mission - to provide compassionate, quality care - for the next 127 years and beyond.
Chapter 11 is a well established legal process that allows an organization to continue to conduct business as usual while its financial house is put in order.
The current Chapter 11 filing by Auburn Memorial Hospital will allow for the restructuring of its significant debt, accumulated over a number of years, and re-emergence as a thriving organization. Our goal is to move through the process as quickly as possible, and the community will be kept up to date every step of the way.
AMH has successfully addressed operational challenges through an 18-month turnaround initiative. We are now profitable in our core operations for the first quarter of 2007.
Restructuring debt accumulated in 2004, 2005 and 2006 is the final step in the turnaround. It will enable us to free up our cash flow to re-invest in the hospital.
We are looking forward to building our program services, recruiting and retaining physicians, and modernizing our infrastructure, which has needed upgrading for some time.
The recently received HEAL NY challenge grant is earmarked for important projects that will update AMH's infrastructure, including the renovation of the Memorial wing, construction of a new surgical center with seven operating rooms, updating our HVAC energy system for significant savings in heating and cooling, and the relocation of the psychiatric unit within the hospital.
These changes will enhance the trust and confidence our community has in the hospital and will greatly improve our ability to recruit and retain the best physicians in a variety of specialties.
Our enhanced profitability will also ensure that Auburn Memorial Hospital is viable for the long-term - we have been serving Cayuga County for 127 years and we will continue to fulfill our mission - to provide compassionate, quality care - for the next 127 years and beyond.
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