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News Releases

For Immediate Release

Financial Success Allows Children's Hospital to Provide Advanced Programs - Children of the Region Benefit Greatly

Children's Hospital of Pittsburgh President and CEO Roger A. Oxendale announced today at the hospital's annual public meeting that the hospital was able to develop new programs and expansion of services because of a successful fiscal year.

These new endeavors were attainable because of the total revenues achieved for fiscal year 2005, which were $408 million, with a bottom line of almost $29 million.

"This fiscal oversight has enabled us to expand current programs, provide new services and keep our antiquated building as up-to-date as possible with necessary repairs. It requires us to be fiscally responsible so we have the resources to pay for our services and are able to offset the costs to run a non-profit hospital," Oxendale said. "Children's Hospital is assuring our families and their children receive outstanding care, second to none. Providing quality care is something we don't take lightly and is why we work so hard to execute financial success."

With these revenues, the hospital is advancing such projects as the construction of a second minimally invasive operating room; advancement of the Palliative Care, Interventional Cardiology and Sleep Study programs; recruitment of new physicians; and expansion of the divisions of Pediatric Rheumatology and Medical Genetics.

If revenues were not realized, Oxendale said the hospital would not be able to support efforts such as the expansion of the Rheumatology Division and advancement of the Supportive Care program.

"Children's led the nation with the development of the computerized provider order entry system, an electronic system that eliminates hand-written and verbal medical orders," said Oxendale. "It was only because of the hospital's positive bottom line that we have been able to pay the $15 million to advance this project. Children's has served as a model for hospitals across the country."

Children's provided more than $26 million in uncompensated care in fiscal year 2005. Children's Free Care Fund supports the hospital's century-old pledge that no child from the tri-state area be denied care because of an inability to pay.

 

Contacts:
Dean Walters or Melanie Finnigan, 412-692-5017 or 412-692-5016

Last Update
May 7, 2013
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Last Update
May 7, 2013
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