Erie County Medical Center Corporation Reports Strong Results for 2016
Hospital reports $2.1million operating surplus for 2016; achieving highest surplus in seven years
BUFFALO, NEW YORK — Erie County Medical Center Corporation (ECMCC), Western New York’s only Level 1 Adult Trauma Center, today announced that it closed 2016 with a $2.1 million operating surplus on its total $593 million in operating revenues, reflecting the hospital’s overall strong performance in health care services for the year. The hospital grew days cash on hand from 71.8 days in 2015 (with $102.4 million in cash) to 77 days in 2016 (with $115.6 million in cash) and grew revenues from $553.1 million in 2015 to $593 million in 2016.
In early January, ECMC reported that 2016 was the busiest year in the hospital’s history. From emergency room visits to outpatient visits to both inpatient and outpatient general surgeries, the key categories for measuring ECMC’s operations demonstrated strong, positive growth, especially among elective procedures in areas such as orthopaedics and kidney transplants.
ECMCC Chair Sharon L. Hanson said, “Thanks to the collective dedication and hard work of every member of the ECMC family, 2016 was an excellent year for the hospital and, on behalf of the Board of Directors, we commend all of our extraordinary caregivers for continuing to provide the high level of quality health care for the patients that seek our services. We also commend hospital leadership for continuing to be innovators and entrepreneurs to grow ECMC, while being tremendous stewards of ECMC’s finances.”
ECMCC President and CEO Thomas J. Quatroche Jr., Ph.D. said, “Operationally, we knew that 2016 was a year of growth for ECMC, which affirms ECMC has become a hospital of choice for our community. This success is directly attributable to the 3,100 members of the ECMC family who provide compassionate and lifesaving care every day to our community.”
As noted above, 2016 proved to be an incredibly productive year for the hospital. The increased activity across service areas includes: Total Inpatient — 15,007 in 2010 to 18,839 in 2016 or 22.5% growth; Total Surgeries by Service — 11,944 in 2010 to 14,552 in 2016 or 21.8% growth; Total Emergency Department Visits — 58,090 in 2010 to 69,290 in 2016 or 19.3% growth; Total Outpatient Visits — 255,264 in 2010 to 306,564 in 2016 or 20.1% growth; and Average Length of Stay — 8.4 in 2010 to 7.5 in 2016.
While ECMC is currently conducting its annual audit, it is not anticipated that there will be any change in the operating surplus.
- Operating Revenues of $593.0 Million
- Operating Expenses of $590.9 Million
- Operating Surplus of $2.1 Million
- Operating Revenue of $553.1 Million
- Operating Expenses of $552.2 Million
- Operating Surplus of $0.9 Million
There is a $39.9 Million or a 7.2% increase in operating revenues from 2015 to 2016 and a $1.2 million or 133% increase in operating surplus.