“Dr. Dickson is an ideal chief executive for UMass Memorial Health Care at this time in the organization's history, taking the helm as the industry itself is undergoing transformational change” David Bennett, chair of the system's board of trustees, said in the release.
In financial results issued to bondholders for the quarter ended Dec. 31, UMass Memorial Health Care reported an operating loss of $10 million on revenue of $553.5 million.
The system lost $13.4 million in the same period in 2011 on revenue of $548.4 million.
“2012 was a financially challenging year for UMass Memorial Health Care, and nationally, healthcare faces an equally challenging future,” a UMass spokesman said in an e-mailed statement regarding the results.
“Dr. Dickson is committed to continuing the transformational changes started by John O'Brien, and leading UMass Memorial Health Care to be an organization focused first and foremost on the health and well-being of the patients we serve and the people who care for them in a financially responsible manner.”
Facing a $50 million budget gap last year, O'Brien said in September that UMass would cut 140 full-time positions from the five-hospital system, which includes 682-bed UMass Memorial Medical Center in Worcester, Mass.
The system ended its fiscal 2012, ended Sept. 30, with operating income of $5 million, compared with $35 million in 2011.