HOWARD UNIVERSITY HOSPITAL ANNOUNCES FISCAL IMPROVEMENT

Howard University Hospital officials announced that the hospital has reached profitability, making $4.3 million in operating income during FY 2015-16. During FY15, the hospital had announced a $19 million loss, and in FY14 it reported a $58 million loss. 

"Over the past two years, Howard University and Paladin Healthcare have embarked on a large-scale strategic restructuring plan for the hospital," President Wayne Frederick said. "Today, Howard University Hospital is emerging as a stronger institution."

HUH operating highlights for the FY15-16 fiscal year ended June 30, 2016 include:

- Revenue from patient services grew by $17.3 million to $233 million, up 8%
- Operating expenses were $238 million, down 8%
- HUH market share stabilized to 7.2%
- HUH's previous profitable year was 2012

In addtion, HUH reported improvements in the delivery of emergency services to the community. After a significant overhaul of emergency operations this year, patient wait time declined from 106 minutes to 20 minutes, an improvement of 81%. The emergency department also reported improvements in other metrics, including discharge times and patient satisfaction scores, which improved by 20%. 

In October 2014, Howard University entered into a management services agreement with Paladin Healthcare. The collaboration brought new senior leaders and other managers who assumed responsibility for day-to-day hospital operations under the joint oversight of Howard University and Paladin Healthcare Management. Howard University continues to be the licensed operator of HUH.

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