Financial Turnaround Earns National Recognition
For immediate release
May 28, 2010
Memorial Health System reduced its spending on wages and benefits by more than $35 million in three years. The remarkable improvement – and the efforts by staff to make it happen – recently earned Memorial Health System a 2010 Healthcare Advantage Award by Thomson Reuters. The Colorado Springs health system was one of seven hospitals nationally to win for performance efficiency.
The achievement came after a new leadership team arrived in 2008 and launched a series of initiatives to make Memorial’s operations more productive. Staff embraced the call to action. The result: significant improvement in efficiency relative to other hospitals nationally. For example, expenses were reduced by nearly 20 percent from the first quarter of 2008 through the fourth quarter.
Memorial, which does not receive taxpayer support, reinvests 100 percent of its revenues into care for local patients and families.
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals.
For more information, call Memorial’s public relations office at 365-5235.