But comparing the last few years' income projections with the actual income the hospital generated, it is likely that El Camino Hospital will bring in far more than currently anticipated.
In 2012, the hospital made more than $60 million in net income — about $25 million more than it had forecast in the same year's budget. And looking at the 2013 numbers through April, ECH as a whole has already made $84.6 million in profits — nearly $30 million more than the $55.9 million that was projected one year ago.
In an email, the hospital's chief financial officer, Michael King, said the hospital's management team is currently planning to use ECH's profits to take care of "significant capital needs" and to continue to pursue the organization's "triple aim" initiative — a multi-pronged plan intended to increase quality of care, service and affordability at the hospital.
Also, according to a presentation given to the board on the fiscal year 2014 budget, the hospital anticipates hiring new staff along with a significant increase in costs associated with its employee health care plans.
This story contains 280 words.
If you are a paid subscriber, check to make sure you have logged in. Otherwise our system cannot recognize you as having full free access to our site.
If you are a paid print subscriber and haven't yet set up an online account, click here to get your online account activated.