Moody's Upgrades North Texas Medical Center, Gainesville, Texas

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Nov 09, 2021, 08:36 ET

PLANO, Texas, Nov. 9, 2021 /PRNewswire/ -- Improved hospital performance over the past few years at North Texas Medical Center (NTMC) - Gainesville Hospital District, Gainesville, Texas, has led to a rating upgrade by Moody's Investors Service from Ba1 to Baa2, indicating credit strength from a large and growing tax base and manageable debt profile, Moody's announced recently.

North Texas Medical Center Logo

Moody's public release states a stable outlook for NTMC, a 60-bed acute care hospital, and positive operations since 2018, when NTMC entered an agreement for management of operations with Community Hospital Corporation (CHC) of Plano, Texas.

CHC President and CEO Jim Kendrick shared, "We are excited about this Moody's upgrade and future outlook for NTMC. Our teams continue to contribute expert advice across all areas of financial and operational performance."

NTMC Chief Executive Officer Thomas Sledge said, "I am confident that our operational and quality of care initiatives will continue to move our ratings upward. I am proud of our executive team's continuous focus on improvements and the commitment and perseverance among all staff, even amid the challenges posed by the COVID-19 pandemic."

Sledge cited several NTMC accomplishments under CHC's leadership, including:

Reduced supply spending by right-sizing inventory and joining CHC Supply Trust (CHC's GPO)
Ensured all physicians are credentialed with all appropriate payer networks
Encouraged wider use of upfront collections, an underutilized revenue stream accelerator
Developed a stronger regulatory compliance program
Implemented staff training and hourly rounding to improve patient experience

About North Texas Medical Center
North Texas Medical Center (NTMC) is a 60-bed acute care hospital situated on 52 acres located within the city limits of Gainesville, a community approximately 60 miles north of Dallas-Fort Worth and five miles south of the Texas-Oklahoma border. Since NTMC's campus was rebuilt in 2004, it has continued to grow to better serve the medical needs of the North Texas area.

About Community Hospital Corporation – HELP WHERE HOSPITALS NEED IT®
Community Hospital Corporation owns, manages and consults with hospitals through CHC Hospitals, CHC Consulting and CHC ContinueCARE, with the 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.

CONTACT: Anne Block
[email protected]
972-943-6470

SOURCE Community Hospital Corporation