BRMC Improves Fiscal Viability, Ensuring Essential Services for Years to Come
Bergen Regional Medical Center, LP Announces Nearly $160M in Payments Benefitting the Bergen County Improvement Authority and Bergen County
(Paramus, NJ) BRMC, LP has managed Bergen Regional Medical Center since March of 1998 and has paid $126M in rent and other payments to the BCIA/Bergen County while investing over $32M in capital improvements at the Medical Center. Even more importantly, BRMC, LP has successfully executed one of its primary objectives — eliminating significant losses incurred by the former Bergen Pines County Hospital. In 1997, before the current management assumed responsibility for daily operations, the hospital lost $5 million.
Today, Bergen Regional is fully accredited by The Joint Commission and all of its services are in good standing with regulatory licensing entities. Its Long Term Care Division is one of only 6% of nursing homes nationwide that are Joint Commission accredited.
Yet, the successful privatization of Bergen Regional Medical Center has been challenged by some including Ann Twomey, president of the Health Professionals and Allied Employees, as being “a one-sided contract that has put profits before the needs of our community.” Revenue provided to the County provides empirical data not anecdotal commentary. “The fact is the County and the community BRMC serves benefitted from the privatization of the Medical Center. It has been far from one-sided,” stated BRMC Chief Financial Officer, Tom McCloskey. “BRMC LP has eliminated the County’s financial exposure regarding the hospital and replaced it with a source of guaranteed County revenue”. In addition to those payments, “significant quality improvements, repeated successful state and federal surveys, technology advancements including the electronic medical record and other substantial facility investments have been made to improve and position Bergen Regional Medical Center for future success”, noted Chief Medical Officer and Vice President for Quality and Outcomes Management, Serge Dumay, MD, MBA, FACP, FACHE. In fact, Consumer Reports gave its highest ratings – ‘where you are least likely to be infected with MRSA and C. diff’ — to Bergen Regional Medical Center in Paramus. Additionally the hospital was named as one of the 100 SafeCare® hospitals.
BRMC LP Announces $160 M in Payments to BCIA
In the wake of a changing reimbursement structure, shrinking subsidies and the still unknown aspects of the Affordable Care Act, BRMC LP provides the management which enables the Medical Center to provide the highest quality care, while remaining fiscally viable and a reliable source of revenue for Bergen County and a provider of unique and essential services to the community.
June 21, 2016
Contact: Donnalee Corrieri