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% year-over-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 cross-town 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. —Beth KutscherFollow Beth Kutscher on Twitter: @MHbkutscher
New York Blood Center in Manhattan and Community Blood Center of Greater Kansas City (Mo.) have completed their merger, creating one of the largest community-based, not-for-profit blood centers in the nation.
Financial terms of the deal were not disclosed. NYBC said it plans to expand its services and research to the Kansas City metropolitan area.
NYBC provides transfusions and other blood-related services to 200 hospitals throughout Connecticut, New Jersey, New York and Pennsylvania. CBC, which will retain its name, works with about 70 hospitals throughout Missouri and Kansas. In addition to blood donations, NYBC is the site of the National Cord Blood Program, which uses donated umbilical cord blood for advanced transplants and stem cell research.
In fiscal 2013, NYBC posted a $1.6 million surplus on more than $329 million in revenue, according to the group's most recent Internal Revenue Service Form 990. Comparatively, CBC lost $3.1 million in its fiscal 2012 on $42.9 million in revenue. —Bob HermanFollow Bob Herman on Twitter: @MHbherman