City-owned Sitka (Alaska) Community Hospital's finances are beginning to improve, according to the Juneau Empire.
The hospital's CEO Rob Allen shared that news at the Sitka Chamber of Commerce luncheon April 20.
Mr. Allen began serving as Sitka Community Hospital's CEO after the previous leader, Jeff Comer, abruptly resigned in late 2014. Less than a month before Mr. Comer's departure, Lee Benett resigned as the hospital's CFO.
The hospital was facing financial troubles when Mr. Allen began serving as CEO. In 2015, the hospital only had 19 days cash on hand.
Due to a number of factors, including Alaska's decision to expand Medicaid, patients paying their bills faster and the hospital providing less charity care, Sitka Community Hospital's finances are improving. It now has 74 days cash on hand, according to the report.
The hospital will likely still record a loss for the fiscal year that ends June 30, according to the report.
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