El Centro (Calif.) Regional Medical Center, an affiliate of UC San Diego Health, is making strides towards its financial turnaround and reported $7.2 million in operating income in the third quarter of fiscal 2024, compared to a $6.5 million net loss in the same period last year.
"I am extremely proud of the results we have achieved and amazing progress we have made in a short period of time, including turning around our net operating loss into profitability in a single year, achieving our first profitable quarter in over three years in Q3, as well as numerous gains on the operational front," CFO David Momberg said. "We will continue to build on this progress to ensure the longevity and financial sustainability of ECRMC."
ECRMC has implemented several operational initiatives to establish the organization for future longevity. Leaders have improved the hospital's contract management process and negotiated more favorable contracts, aligned the organization to meet its operational needs and worked to increase timely payment reimbursements for services provided.
In collaboration with UC San Diego Health, ECRMC is creating new programs and services to ensure patients receive quality care close to home. It manages the only cancer center in the region and has the only robotic surgical program in the county, according to the health system.
"Our goal is simple — to ensure that the people of El Centro and the broader Imperial Valley have long-term access to health care services," CEO Pablo Velez, RN, PhD, said. "Over the last year, the amazing team of dedicated physicians and staff at ECRMC have worked tirelessly in partnership with UC San Diego Health to help revitalize our organization — and the results we have achieved together on both the operational and financial fronts speak for themselves."