Introduction
Delta Health faced significant financial challenges between 2019 and 2023, including nearly $30 million in operating losses and the resignation of its CEO and CFO. The situation worsened when they had to return $7 million in advance Medicare funds, nearly depleting their cash reserves.
Leadership and Recovery
Jonathan Cohee and Elizabeth Lee, the new CEO and CFO, respectively, are optimistic about the future. Cohee, who joined as COO in November last year and became CEO in July, emphasized operational efficiency as a key factor in their recovery.
“Not only have we been able to survive, but thrive, grow, expand and innovate,” Cohee said.
Operational Improvements
Cohee highlighted the importance of monitoring daily operations to identify inefficiencies. This approach has led to increased patient access and a 5.2% rise in patient volume, potentially adding $7-9 million to their revenue by year-end.
Community Support
Delta Health’s recovery was bolstered by community support, including a 0.8% sales tax passed in 2022, expected to generate about $3.8 million annually. This financial backing reflects the community’s commitment to maintaining local healthcare services.
Future Outlook
Looking ahead, Delta Health plans to expand services and transition from reactive to preventative care. Recent acquisitions and partnerships, such as a new orthopedic practice and a cardiology center with Intermountain Health, are steps towards a more stable future.
Conclusion
Delta Health’s journey from financial instability to recovery showcases the impact of strategic leadership and community support. With continued efforts, they aim to strengthen their services and maintain their independence.
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