The once struggling Caritas Christi Health Care chain of Catholic hospitals in eastern Massachusetts is on track for a remarkable financial comeback.
Hospital officials say the Boston-based chain is on the path for an operating income of $31.1 million for the fiscal year that ends Sept. 30, compared to a $20.4 million loss last year.
Officials credit the turnaround on a variety of measures, including consolidated operations at the six hospitals, job cuts and salary freezes. The chain also negotiated higher reimbursement rates from insurers, and recruited more specialists to perform more profitable procedures.
Chief executive Ralph de la Torre tells The Boston Globe the chain "literally dismantled and reengineered everything."
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