LACONIA, NH – Like many healthcare organizations in New Hampshire and all over the country, LRGHealthcare has faced many barriers in an ever-changing healthcare climate. Over the past four years, LRGHealthcare has gone through many changes as an organization, but has also seen great growth in terms of technology, positive engagement with stakeholders, and improved quality to better meet patient need.
LRGHealthcare closed out fiscal year 2017 with a modest surplus from operations; however fiscal year 2018 has, to this point, not performed as well as anticipated. There is no single reason for this performance. Rather, it is a combination of factors including lower volume overall, but increased volume in those areas where payers are not favorable; coupled with slightly higher expenses.
Kevin W. Donovan, LRGHealthcare President and CEO, stated, “LRGHealthcare will likely need to determine actions to cut expenses and/or increase revenue. Therefore we need to look hard at the services we provide and whether they can be done more efficiently. It might also mean deciding there are certain things we just cannot do anymore. We would not be doing our job if we did not consider all options.”
One of many areas under review is the Family Birthplace. This review is due to a number of factors, including declining birth rates, poor reimbursement from Medicaid and difficulty in recruiting and retaining providers willing to cover the service frequently. “To be clear, however, no decisions on the future of the Family Birthplace or any of our services have been made,” stated Donovan. As LRGHealthcare determines a course of action, staff, providers and community will be informed and involved.
LRGHealthcare is a not-for-profit healthcare charitable trust representing Lakes Region General Hospital, Franklin Regional Hospital, and affiliated medical providers. LRGHealthcare’s mission is to provide quality, compassionate care and to strengthen the well-being of our community.
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