Southern New Hampshire Regional Medical Center, Nashua, improved its financial performance last year despite heavier losses on physician practices, according to Standard & Poor's, which revised its outlook on the hospital's bonds to stable from negative. The bonds are rated A-minus. Analyst Brian Williamson said the 188-bed hospital lost $4.6 million on its 71 employed physicians for the year ended Sept. 30, 2002, compared with a $3.8 million loss for the previous year; both deficits, however, were down from a record $6.3 million loss in fiscal 1999. The hospital reported that losses on physician practices were offset by revenue generated by employed physicians' referrals to hospital-owned ancillary services, Williamson said. S&P cited the hospital's solid business position, growing utilization, strong balance sheet and improved operating results, including a 2.6% operating margin in fiscal 2002. -- by Mary Chris Jaklevic
Doc-related gains outweigh costs at N.H. hospital
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