Promises Kept: Five Years of Investing in the Health of Our Community
October marks five years of investment in this community by Prospect Medical Holdings, through its ownership of Eastern Connecticut Health Network, including Manchester Memorial and Rockville General hospitals. While our tax status is “for-profit,” benefiting town, state and federal government, our purpose is “for community.” Our mission is, and always has been, to provide safe, accessible and high-quality healthcare with great compassion. Like any organization, whether not-for-profit or for-profit, we must realize an operating margin to continuously reinvest in new equipment, facilities, providers and employees. The extent of that reinvestment is derived from our financial performance. All health systems work to deliver efficient care options that result in an operating margin for reinvestment and growth, and ECHN is no exception.
The Benefit of For-profit Ownership
Before Prospect’s acquisition, our hospitals often struggled to keep pace with the financial demands. Today, we are far better positioned to continue investing in and improving the health of our community.
- ECHN is a substantial economic engine for our region.
- Prospect continues to invest millions of dollars per year in renovations, facility upgrades and equipment at both hospitals.
- Focused on becoming the region’s largest provider of behavioral health services, we are developing a post graduate medical education program in Psychiatry, training the mental health professionals of the future.
- Additional residency training programs in Family Medicine and Osteopathic Neuromusculoskeletal Medicine continue to educate new doctors, many of whom remain to practice here.
- As a for-profit, we pay in excess of $12 million in annual taxes to Manchester, Vernon and the state/federal government, plus an additional $300,000 in property taxes to several towns.
- As the largest employer in our 19-town service area, we pay more than $125 million in wages and benefits to our dedicated employees. Note that 72% of our staff lives in our communities.
- Last year alone, we provided over $858,000 in charity care and absorbed $11.9 million in uncompensated care – the difference between what Medicaid pays and our cost to provide the care.
- The impact of our Community Benefit investment is in excess of $5 million annually. This represents the cost of our health education programs, outreach, volunteerism, support groups and other services.
- Previously a recipient of philanthropic gifts and investment, now ECHN gives back more than $100,000 each year to the community as a sponsor of community events and programs like The Manchester Road Race, Channel 3 Kids Camp, Hockanum Valley Community Council and numerous others.
- Our community investment is stewarded by a Local Advisory Board that guides decision making in strategic business planning, medical staff appointments, community partnership development and quality of care assurance oversight.
This is the third of an informational series designed to keep you informed of our future-focused momentum. Look for more updates in the weeks to come. All of us at ECHN take great pride in being your community care provider, and we understand the tremendous responsibility of improving the health and well-being of the people who live and work here. We are transforming healthcare for all of us.
Eastern Connecticut Health Network operates acute care hospitals and emergency services in Manchester and Rockville, serving a region of over 300,000 people in 19 towns. Its affiliates include Manchester Memorial Hospital, Rockville General Hospital, ECHN Medical Group, Women’s Center for Wellness and the John A. DeQuattro Cancer Center. Dedicated to providing compassionate health care services in over 30 specialties, ECHN is training the next generation of physicians in primary care, osteopathic neuromuscular manipulative medicine and transitional year residency, and will be expanding our residency programs to include behavioral health. ECHN specialty programs include Breast Imaging, Diabetes care, Gastroenterology and Digestive Health, General Surgery, Heart and Vascular Services, Integrative Health, Maternity, Occupational Health, Pain Management, Primary Care, Pulmonary, Sleep Disorders, Stroke Care, Urgent Care, Wound Care and the Women’s Center for Wellness. Follow-up care services are supplemented by Visiting Nurse and Health Services of Connecticut. ECHN is a member of Prospect Medical Holdings, a national family of hospitals and health networks.