Hospital Management

Gainesville Hospital District saw light at the end of the tunnel—a new beginning for North Texas Medical Center (NTMC). The district had leveraged bankruptcy to get the legal protection and time it needed to develop a plan to restructure $40 million in debt, pay creditors, and keep the hospital open. The district secured debtor-in-possession financing and filed a bond validation to enhance the appeal of its bonds as investments. Gainesville Hospital District was on the right track to emerge from Chapter 9, but the district needed to...

Plano, Texas (August 1, 2019) – Community Hospital Corporation (CHC) is proud to announce Jodi Harris as winner of the 2019 Dan Wilford Award for Compassion and Community Service. Harris is Director of Rehab Services for Southwest Health System (SHS), Cortez, Colorado, a hospital managed by CHC. Nominated by SHS colleagues Meghan Higman, Education/Staff Development Director, and Travis Parker, Chief Human Resources Officer, Harris is described as “passionate about helping others and delivering evidence-based, patient-centered care.” Early on in her 18 years at SHS, patients needing physical therapy began requesting...

A recent guest blog by Community Hospital Corporation (CHC) featured tips for successful turnaround by Anthony Sudduth, CEO of Southwest Health System.

Last year, Southwest Health System (SHS), in Cortez, Colorado, found itself in the midst of a significant financial crisis. The hospital had violated bond covenants associated with a $32 million building project, failing to meet the 80 days cash-on-hand requirement for four consecutive quarters. This violation triggered technical default, which could have led to bankruptcy and closure. Instead, SHS acted swiftly and decisively, becoming not a cautionary tale...

Unfortunately, thin margins have long been a reality for most rural hospitals, but a worsening array of issues—from decreasing reimbursements to declining populations—have forced growing numbers of them into financial distress. By monitoring indicators, creating transparency and responding swiftly to warning signals, financially stressed or distressed hospitals can get turned around before bankruptcy or closure become imminent threats. In this interview, Jim Kendrick, president and CEO of...

Becker’s Hospital Review reported the following hospital and health system CEO moves in the last week.

The moves are listed below, in alphabetical order.

1. Baton Rouge, La.-based Woman’s Hospital selected Robert Burgess to serve as interim CEO, effective immediately.

2. Albuquerque, N.M.-based Lovelace Health System named Buddy Daniels CEO of Lovelace Regional Hospital in Roswell, N.M., effective April 29.

3. Jay Kreuzer, CEO of Honolulu-based Hawaii Health Systems Corporation’s West Hawaii Region and of Kona Community Hospital in Kealakekua, Hawaii, is retiring, effective at the end of the year.

‘Not out of the woods’ yet, but progress being made

A financial recovery effort at Southwest Memorial Hospital is gaining momentum, officials said during a public forum Wednesday.

About 40 citizens and hospital staff attended the quarterly joint board meeting between the Montezuma County Hospital District and Southwest Health System, the nonprofit corporation that operates the hospital.

Southwest Health CEO Tony Sudduth presented a financial update on the encouraging results of an aggressive recovery effort that began after the public was notified in May that the hospital was in danger...

The Southwest Health System Board of Directors has announced that Anthony Sudduth has been named the CEO of Southwest Health System, effective March 28.

Sudduth joined SHS in April, fulfilling the role of interim CEO.

“During this time, he has led the significant financial turnaround of our organization, and in doing so, has improved every financial metric of our organization,” according to a press release.

Read the full article in The Journal, March 29,...

Cortez, Colo.-based Southwest Health System tapped Anthony Sudduth to serve as permanent CEO, effective March 28.

Four notes:

1. Mr. Sudduth became interim CEO of the health system in April 2018.

2. He has experience serving in CEO, COO and CFO roles at both nonprofit and for-profit healthcare facilities.

3. He holds an MBA from Eastern Kentucky University in Richmond.

Read the full article in Becker’s Hospital Review, March 28,...

Plano, Texas – March 28, 2019 – The Southwest Health System Board of Directors is pleased to announce that Anthony Sudduth, CPA, FACHE, FHFMA has been named Chief Executive Officer for Southwest Health System, Cortez, Colo., effective today, March 28, 2019. Sudduth joined Southwest Health System in mid-April 2018, fulfilling the role of Interim CEO.

“During the past year, Tony has led the significant financial turnaround of our organization, and in doing so, has improved every financial metric of our organization. This success could not have been possible without the...

Thin margins have long been a reality for most rural hospitals, but a worsening array of issues—from increasing charity care and bad debt to declining reimbursements and rural populations—have forced growing numbers of them into financial distress. Despite today’s challenging operating environment, many rural hospitals across the country are using a practical approach to get turned around before bankruptcy or closure become imminent threats.

Step 1: AWARENESS

Know the signs and symptoms of declining financial health

Certain financial indicators are clear signs that “business as usual” isn’t working and course...