Mount Sinai Medical Center in Miami Beach finished 2009 with a net operating surplus for the first time in 12 years, according to a report by the Miami Herald.
The 699-bed hospital had an operating net of $2.8 million, compared with an operating loss of $16.2 million last year.
Steven Sonenreich, who has been CEO for 8.5 years, attributed the turnaround to the hospital's heart surgery team, which has attracted VIP patients from around the world and expanded its patient volume by 51 percent in 2009.
Net patient revenue increased from $454.3 million to $478.8 million last year, even as uninsured patients represented 21 percent of gross charges and the hospital wrote off $34.5 million in charity care.
However, Mount Sinai still has $260.7 million in debts, about twice the size of comparable hospitals, Mr. Sonenreich said.
Read the Miami Herald's report on Mount Sinai Medical Center.
The 699-bed hospital had an operating net of $2.8 million, compared with an operating loss of $16.2 million last year.
Steven Sonenreich, who has been CEO for 8.5 years, attributed the turnaround to the hospital's heart surgery team, which has attracted VIP patients from around the world and expanded its patient volume by 51 percent in 2009.
Net patient revenue increased from $454.3 million to $478.8 million last year, even as uninsured patients represented 21 percent of gross charges and the hospital wrote off $34.5 million in charity care.
However, Mount Sinai still has $260.7 million in debts, about twice the size of comparable hospitals, Mr. Sonenreich said.
Read the Miami Herald's report on Mount Sinai Medical Center.