Despite financial deficits across province, St. Joe's ends fiscal year with large surplus
St. Joseph's Health Care
Published Thursday, June 13, 2019 5:48PM EDT
St. Joseph’s Health Care in London announced Thursday it has ended the fiscal year with a surplus of $20.6 million.
The hospital says it was primarily achieved through post-construction operating plan funding and confirmation of ministry funding above the budget estimates.
This year $19.2 million was invested in new equipment and building related projects, including the opening of a new 18-bed palliative care unit at Parkwood Institute.
St. Joseph’s CFO Lori Higgs says the current budget surplus gives the organization the ability to continue to invest in patient care.
“This surplus affords us a one-time opportunity to really make some strategic investments in a particular area...where we are aligned in our strategic plan around leveraging technology," she says.
"And...our Board of Directors approved a plan to invest in a $12 million project that will see us really advancing with our electronic patient records.”