Westchester Medical Center, Valhalla, N.Y., has hired Pitts Management Associates to help lead the hospital out of its financial troubles. A new senior management team, including a chief executive officer, will be in place by April 15 and will provide services for about one year. Financial terms are being negotiated, a hospital spokeswoman said. The consulting firm, based in Baton Rouge, La., performed a financial and operational assessment of Westchester in 2003. In January, 910-bed Westchester reported an unexpected $50 million operating loss, following a $70 million loss in 2002. At the same time, the hospital lost its top leadership due to its CEO's retirement and the resignation of its chief administrative officer. Westchester's credit rating plummeted, and analysts suggested it would not be able to turn around without outside help. -- by Cinda Becker
In fiscal crisis, N.Y. hospital hires outside help
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.