Care New England Releases Fiscal Year 2019 Financials
Care New England Health System (CNE) announced today that in Fiscal Year 2019 it achieved income from operations of $3.8 million, a $31.9 million improvement over FY 2018. Its obligated group (CNE excluding Memorial Hospital) achieved income from operations of $5 million, slightly below the $5.3 million generated in FY 2018.
Additionally, in Q4 2019 CNE reported $1.5 million from operations. Butler Hospital, Kent Hospital, Integra, and the VNA of Care New England all achieved positive operating results. More aggressive turnaround plans are being implemented at Women & Infants Hospital and The Providence Center.
“The year-end financial information reported today demonstrates Care New England’s continued commitment and focus on improving quality, service, access, and financial performance” said James E. Fanale, MD, president and CEO, CNE. “We remain diligent on providing better access for our programs and services, successfully implementing growth initiatives, and improving patient retention.”
About Care New England
Care New England Health System is a trusted organization that fuels the latest advances in medical research, attracts the nation’s top specialty-trained doctors, hones renowned services and innovative programs, and engages in the important discussions people need to have about their health and end-of-life wishes. Care New England is helping to transform the future of health care, providing a leading voice in the ongoing effort to ensure the health of the individuals and communities we serve.
CNE was founded in 1996, and today it is the parent organization of Butler Hospital, Kent Hospital, Women & Infants Hospital of Rhode Island, Care New England Medical Group, the VNA of Care New England, The Providence Center, and Integra, a certified accountable care organization (ACO). Care New England includes 970 licensed beds and 216 infant bassinets. Through Butler, Kent, and Women & Infants hospitals, Care New England has a teaching and research affiliation with The Warren Alpert Medical School of Brown University. Kent is also a teaching affiliate of The University of New England College of Osteopathic Medicine.