Ghezzi: TMH's outlook rosy; Northside's bleaker
The challenge at Northside Medical Center remains 'far steeper,' he said.
YOUNGSTOWN -- Trumbull Memorial Hospital in Warren is positioned for growth and a bigger share of the market in its service area, said Dr. Keith Ghezzi, interim Forum Health president and chief executive officer.
The challenge at Northside Medical Center, however, remains "far steeper" as Forum nears the end of the first year of its financial turnaround effort, said Dr. Ghezzi in this week's Forum Flash, a company newsletter.
Dr. Ghezzi made his assessment after the recent completion of the first stage of work on financial projections and models that "better outline our challenges and opportunities, and will guide the board of trustees and management in 2007."
He said Forum is nearing the end of the implementation period for the operational changes and ideas recommended by Wellspring Partners, a consulting firm hired to guide Forum's financial turnaround.
Dr. Ghezzi said "great strides" have been made at TMH with the commitment and work of the hospital's leadership, labor representative, physicians and employees.
He said that at Northside, "without aggressive intervention and more sweeping change, we project financial losses well into the future."
"No matter the unique strengths and struggles of each of our facilities, it is clear that Forum's turnaround effort will require the full participation of our lenders, labor leaders, physicians and employees throughout the system," Dr. Ghezzi said.
The only way to address the financial challenges is to improve productivity, bring down costs, and make the best strategic use of our assets and facilities," he said.
Dr. Ghezzi said that the different groups and facilities at Forum are not in competition with one another.
"The battle is not an issue of management versus labor, or facility versus another, or union versus nonunion. Instead, it is a battle for our role and our standing in the regional health-care market and in this community," he said.