Another good year for El Camino Hospital | June 21, 2013 | Mountain View Voice | Mountain View Online |

Mountain View Voice

News - June 21, 2013

Another good year for El Camino Hospital

Health organization's financial team predicts more growth through 2014

by Nick Veronin

El Camino Hospital's financial officials anticipate the local healthcare organization will rake in about $78 million in profits over the next fiscal year, according to the new hospital budget which was approved by the board of directors last week.

The budget, approved by the ECH board at its June 12 meeting, anticipates the hospital will bring in around $717.5 million in net revenue and will spend about $664.4 million on operational costs, such as employee salaries, benefits, supplies and equipment. That leaves the hospital with approximately $53 million in net operational income. After factoring in $25 million in non-operational income, such as money earned on investments, officials anticipate the entire organization will make $78 million in net income.

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.


There are no comments yet for this post

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Choose a category: *

Since this is the first comment on this story a new topic will also be started in Town Square! Please choose a category that best describes this story.

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields


Top restaurants to check out

Mountain View Voice readers have officially decided. See which local restaurants and businesses can now claim the title — Best Of Mountain View 2017.

View Winners