Boca Raton (Fla.) Community Hospital announced that its plans for a teaching hospital will be delayed and that it has named a new president and chief executive officer.
The hospital and its affiliates lost $28 million on revenue of $317.7 million for the year ended June 30, 2007, according to a news release. Thats compared with net income of $5.6 million on revenue of $279.4 million for the prior year. Increased labor costs, rising bad debt and a drop in admissions contributed to the losses. Poor finances, local economic conditions and the healthcare industry landscape have delayed construction of Boca Raton Communitys $600 million teaching hospital, with groundbreaking no longer scheduled for this year.
The hospital named its chief operating officer, Richard Van Lith to succeed Gary Strack as president and CEO, effective Jan. 4. Van Lith was appointed by the board during a special board meeting, and Strack will continue to advise the hospital, said Lisa Cook, a spokeswoman for the 380-bed hospital. Given the opportunities and challenges before us, we feel that now is the best time to make the transition in leadership roles, said Richard Schmidt, the hospitals board chairman, in a news release. -- by Melanie Evans
What do you think? Post a comment on this article and share your opinion with other readers. Submit your letter to Modern Physician Online at [email protected]. Please be sure to include your hometown and state, along with your organization and title.