Community Hospital Corporation Announces Strong Performance in 2018

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Dec 05, 2018, 11:12 ET

PLANO, Texas, Dec. 5, 2018 /PRNewswire/ -- Community Hospital Corporation (CHC), a national leader in community hospital operations, announced the company is concluding a strong year amid challenging times for community hospitals.

"We are pleased with the momentum created in 2018, a year in which community hospitals are seeking ways to improve their performance and sustainability," said Jim Kendrick, CHC CEO.

Doing more with less, while seeking savings or support funding, has become the norm for community hospitals. Some not-for-profit providers operate within a 3% or less margin, so CHC helps to manage critical revenue and expense areas that improve all sides of the financial equation.

A notable achievement for CHC in 2018 was a new management agreement in May with North Texas Medical Center (NTMC), Gainesville, Texas, which led to a lease agreement effective December 1st. The CHC team continues a strong tradition of delivering quality healthcare services for NTMC, a market leader voted by its community as the No. 1 hospital.

CHC also signed a management agreement with Southwest Health System, Cortez, Colo. Positive gains are taking shape there following a comprehensive operational assessment and actions being implemented to reduce costs and enhance revenue.

Among CHC's 2018 Highlights:

Since July, CHC Supply Trust has added 9 new hospitals that will be accessing our GPO. This represents more than $1 million in projected annual revenue. CHC Supply Trust is the supply chain services arm of CHC and CHC Consulting.
CHC helped 18 hospitals by facilitating $1.6 million in funding for telecommunications services through a Federal Communications Commission program.
CHC was included in the 2018 list of the 150 Top Places to Work in Healthcare by Becker's Healthcare.
CHC's footprint expanded to serve health providers in 24 states.

Looking ahead, CHC leaders anticipate strong growth in 2019, predicated on the continued need to help community hospitals improve their financial stability.

About Community Hospital Corporation – HELP WHERE HOSPITALS NEED IT®
Community Hospital Corporation owns, manages and consults with hospitals through three distinct organizations – CHC Hospitals, CHC Consulting and CHC ContinueCARE, which share a common purpose to guide, support and enhance the mission of community hospitals and healthcare providers. Based in Plano, Texas, CHC provides the resources and experience community hospitals need to improve quality outcomes, patient satisfaction and financial performance. For more information about CHC, please visit www.communityhospitalcorp.com.

SOURCE Community Hospital Corporation