Atlanta's Grady Hospital Achieves First Profit in 10 Years
Under CEO Michael Young, Grady Memorial Hospital in Atlanta has reached a positive operating margin for the first time in a decade, according to a report by the Atlanta Journal-Constitution.
When Mr. Young arrived two years ago, Grady reported a $50 million operating deficit. Now it is now $34 million in the black, although $25 million of that comes from one-time infusions of cash and some accounting procedures that do not represent real cash on hand, according to the report.
As a result, Mr. Young said the hospital is considering giving employees pay raises that have been shelved for the past three years.
Read the Atlanta Journal-Constitution's report on Grady Memorial Hospital.
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