“This is the beginning of a new era of transparency for Promise Regional,” Kevin Miller, president and CEO said. “I’ve already spoken publically about our intention to be more open with the community about the hospital’s performance and the issues we face, and Thursday’s release is the first of many to come.”

Miller points out that many positive things are happening at the hospital, but overall patient volumes continue to trend slightly down. “With this trend in mind,” Miller said, “we’re working to create a culture of financial discipline and accountability. I am seeing opportunities to improve, and we acknowledge there have been weaknesses in the past with respect to reaction time. The good news is that as we begin this journey, I’m working with an excellent staff who all desire to provide extraordinary care.”

Promise Regional is a not-for-profit 501c3 corporation, and as such is required to file a financial performance summary annually with the federal government. The filing, commonly referred to as the 990 Report is a public document. “It’s worth noting that the most recent year’s results remain unaudited, so the loss may actually increase as auditors assess the need for year end adjustments. This is a routine practice where entries are made to appropriately reflect expenses in the fiscal time period in which they actually occurred. ” Miller said.

To give you examples of the losses, the fiscal year net income losses from July of 2005 to June of 2006 was 9-million, 530-thousand dollars. That number steadily declined until the preiod from July of 2009 to June of 2010. It rose to 2-million, 740-thousand that year.

In the latest number which is unaudited meaning it could go higher was at 1-million, 630-thousand. That was from July of 2010 to June of this year.