ECRMC Announces 2014/2015 Financials

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EL CENTRO – El Centro Regional Medical Center (ECRMC) presented its 2014/2015 financial report to the El Centro City Council last night, which had previously approved by the hospital’s Board of Trustees on September 22, 2015.

Alex Wells, ECRMC’s Chief Financial Officer reported an excess of $10 million in revenue for the fiscal year. This will be reinvested into the hospital and used for new equipment, advanced technology and capital building projects. Statistically ECRMC has ranked in the top quartile of similar-sized hospitals in California with very strong balance sheet ratios. The hospital has 134.9 days of cash on hand, a current ratio of 2.9:1 and debt service coverage of 2.7:1.

Outpatient volumes at both El Centro and Calexico Clinics continue to be strong increasing nearly 20 percent from the prior year. As strategic partnerships and initiatives continue to develop, ECRMC’s Administration expects patient volumes to grow with expanced services for the Imperial Valley.

“These numbers illustrate how financially sound our hospital is, which allows us to invest further in the care we offer our community,” said Tomas Virgen, Interim Chief Executive Officer. “As a result of this positive financial course, we will continue to expand our services, technology, facilities and equipment to better serve the Imperial Valley and surrounding regions.”