For Yale New Haven Hospital, 2014 was an exceptional year. The Hospital made major advances in patient safety, clinical quality and operational improvements, expanded clinical programs, enhanced access to outpatient services and reinforced its status as a destination hospital within the region.
Dear Friends and Colleagues,
For Yale New Haven Hospital, 2014 was an exceptional year. The Hospital made major advances in patient safety, clinical quality and operational improvements, expanded clinical programs, enhanced access to outpatient services and reinforced its status as a destination hospital within the region. We advanced our reputation as a provider of choice and employer of choice. We continued our long history of helping those in need throughout the region, this year providing nearly $90 million in community benefit programs and services, plus another $477 million in free or charity care, under- or uncompensated care and bad debt.
Early in the year, YNHH earned full reaccreditation by the Joint Commission. The Hospital advanced its culture of patient safety and quality by training nearly 12,000 employees and 2,000 physicians in an intensive High Reliability Organization initiative. In June, U.S. News & World Report ranked Yale New Haven Children’s Hospital among the best in the nation for seven of its pediatric subspecialties in the 2014-15 Best Children’s Hospitals rankings. In July, U.S. News again recognized YNHH as being among the best hospitals in the country in 11 specialties.
In spite of decreased reimbursements from the state, the Hospital finished 2014 with an operating margin of 5.5 percent in part by generating more than $135 million in cost savings, from the continued integration of the Hospital of Saint Raphael and diligent revenue cycle management. The Hospital also raised more than $15 million from generous donors.
These accomplishments are even more impressive considering the unprecedented demand for care. In 2014, we treated 78,529 inpatients, and also saw an increase of 9.5 percent in outpatient visits. Two years after the integration with the Hospital of Saint Raphael, YNHH continues to grow and transition clinical programs between campuses.
We are extremely grateful for the contributions, expertise and dedication of our physicians, employees and volunteers, the guidance and commitment of our board members and the generous support of donors and friends in the community – on which our success depends. Our thanks to each of you for your part in helping YNHH enhance the lives of those we serve and build the platform for a strong future.
Despite the challenging economy, YNHH maintained a disciplined focus on managing expenses, improving revenue cycle and maintaining a healthy balance sheet.
The leadership of Yale New Haven Hospital is committed to supporting the hospital's mission of providing access to integrated, high-value, patient-centered care to all patients; serving as the primary teaching hospital for Yale School of Medicine and offering training opportunities for nurses and allied healthcare professionals; providing the setting for ongoing clinical research; and serving the community through healthcare services, education, health promotion and public health advocacy.
The Board of Trustees of Yale New Haven Hospital extends sincere appreciation to the following individuals, corporations, foundations and organizations for their support in fiscal year 2014, from October 1, 2013 to September 30, 2014.
