Located in Cortland, New York, Cortland Regional Medical Center is a 209-bed community hospital including a nursing and rehabilitation center, long-term healthcare program, joint regional medical practice, and joint venture relationships.In 2012, Cortland’s patient volumes unexpectedly and dramatically declined and the CEO retired. Monthly operating losses approached $1 million and reduced the organization’s debt service coverage ratio. Cortland needed a strong Interim CEO and a rapid performance improvement plan to survive.
Prism partnered with Cortland to quickly assess and implement hospital-wide performance improvement initiatives that delivered immediate results. With Prism’s Interim CEO at the helm, Prism implemented comprehensive process changes to reduce costs, increase efficiencies, and introduce accountability across departments. Prism also built and deployed a productivity monitoring system with key metrics and targets, giving Cortland’s team essential tools to manage and sustain the improvements.
Within nine months, Cortland returned to profitable financial performance.
“Prism, in concert with the Board, implemented more than $13 million in annual recurring benefits. Call me to find out more.”
Nancy Rongo, RN, Chairperson, Board of Trustees, Cortland Regional Medical Center, 607.763.5060