Press Release: The Regional Medical Center’s Five Year Funding Plan, 2010-2014

The Main Street Journal Website

(The following press release is published as it was received by the Main Street Journal.)

(You can read the plan for yourself here. [PDF document])

Today the Board of Directors of the Regional Medical Center at Memphis (The MED) considered The Future of the MED report from the management team. The report provides an overview of our current state, financial outlook and funding needs. A copy of the executive summary is attached. A copy of the full report has been sent to your office.

Please note, this document has not been approved by the Board of Directors nor have any of the recommendations been accepted or implemented. It is anticipated that the Board will take action on the report after seven days. Prior to implementing any recommendations to reduce services, County Commission approval is required.

Over the past few years, we have worked to develop strategies to improve our operations and financial outlook. We have made some significant improvements in our operations but continue to face significant financial challenges due to circumstances beyond our control. To create a viable healthcare delivery system, sustainable and predictable funding subsidies that recognize the capital needs of The MED as well as the patient population and geographical areas served is necessary.

We hope that we can count on your support and assistance in addressing the critical needs of the MED. If you have any questions, please contact me.

Thank you for your support.

Sincerely,

Claude D. Watts, Jr.
President/CEO

(You can read the plan for yourself here. [PDF document])

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