(HARTFORD, Conn.) – Saint Francis Care reported continued positive financial results in its 2007 fiscal year. The parent organization of Saint Francis Hospital and Medical Center ended the year with a bottom line gain of $22.5 million.
Speaking today at the Hospital’s Annual Meeting of Corporators, Christopher M. Dadlez, President and Chief Executive Officer, said: “We are very pleased with this solid performance in a very challenging environment.”
Saint Francis experienced considerable growth in outpatient clinic and emergency department visits during the fiscal year that ended Sept. 30, 2007. Many of these patients were either uninsured or Medicaid recipients. As a result, the Hospital provided over $49 million in charity care, bad debt expense and unpaid Medicaid costs, compared to $43 million in the prior year.
“While it is a privilege to serve our community with the best-in-class care that we provide, this places an enormous strain on our resources to meet these ever-escalating costs,” said Dadlez.
In other developments during the past year, Saint Francis established the Connecticut Joint Replacement Institute, introduced stroke and bariatric surgery centers, and opened a new medical office building in Enfield. Fifty-three new physicians joined the Hospital’s Medical and Dental Staff. Saint Francis also acquired major new technologies including biplane angiography, dual source CT scanning and Stereotaxis magnetic navigation.
At its Annual Meeting, held today at the Connecticut Convention Center, Saint Francis also introduced six new Board members and 30 new Corporators. New Board members include: Timothy Furey, Richard H. Gordon, Jeffrey S. Hoffman, Curtis D. Robinson, Andrew A. Sadanowicz and Rosalind Shenkman. New Corporators include: James Balch; Richard M. Barry; Lorey Cavanaugh; Dawn M. Costanzo; Sean T. Egan; Lisa Gerrol; James T. Healey, Jr.; Myles N. Hubbard; Scott A. LaBonte; Barbara A. Lentini, Coleman B. Levy; Frank P. Longobardi; Joe K. Mensah; Jacqueline Werth Moore; Kevin Mullane; Janet M. Newman; Mark D. O’Donnell, Ph.D.; Matthew D. Ritter; Curtis D. Robinson; Kathleen M. Roche; John W. Rodgers, M.D.; Edward A. Santos; Howard A. Shaw, M.D.; J. Brian Smith; Mary Q. Smullen; Joseph J. Spalluto; Jeffrey Steinberg, M.D.; Rev. Erica A. Thompson; Irene Triompo; C. Steven Wolf, M.D.; and Eric M. Zachs.
Looking ahead to the future, Dadlez said that early in 2008 Saint Francis will introduce specialized centers for the treatment of multiple sclerosis, wounds and lymphedema.
Founded in 1897, Saint Francis is a major teaching hospital licensed for 617 acute inpatient beds and 65 bassinets and is the largest Catholic hospital in New England.