2014 Annual Report
Posted On: 2/9/2015
We're proud of all we accomplished at Midland Memorial Hospital in 2014. We continued enhancing our facility while maintaining our focus on improving the quality of care we provide. Our efforts were recognized once again. In 2014 by leading national organizations. Financially, we achieved
significant net income increases over 2013. Some of this can be attributed to the growth in inpatient and outpatient volume we saw in 2014.
All of us at Midland Memorial are honored to serve our community and will continue working to improve the quality and breadth of our offerings in the years ahead.
Year In Review: 2014
Growth at Midland Memorial builds
a strong foundation for the future
QUALITY
- American Heart
Association/American Stroke
Association Heart Failure Gold Plus Achievement
Award
- American Nurses
Credentialing Center Pathway
to Excellence Designation (now a two-time
designated
hospital)
- ACTION Registry - Get With
The Guidelines (GWTG)
Platinum Performance Achievement Award from the
American College of Cardiology Foundation
- NICHE designation with an
Acute Care for the Elderly
(ACE) Unit
CONSTRUCTION
- Added six more patient
rooms to the eighth floor of the Scharbauer Patient Tower,
bringing the total number of rooms in the tower
to 237.
- Consistently improved
energy management for cost savings of more than $550,000 to date.
- Completed surgical suite
upgrades, including new medical technology and enhanced patient amenities.
- Renovated and expanded
medical office spaces.
- Relocated Premier Urgent
Care to Tradewinds Boulevard, where it is now called Convenient Care at
Occupational Medicine and offers extended hours.
- Completed parking
expansion and other improvements to Illinois Avenue entrance.
FINANCIAL
-
Net income (before capital
contributions)
was $2,056,022 compared to the prior
year’s net loss of $1,691,360.
- During fiscal year 2014,
Midland Memorial
improved its overall cash position by
adding 4.5 days of cash on hand, or
$8.1 million.
- Admissions grew by 4
percent, as did
outpatient volume. This resulted in a 7.8
percent increase in net operating revenues.