Shady Grove Adventist Profit Drops

>According to the Business Gazette, which reviewed state disclosure records, after two straight years of solid profits, Shady Grove Adventist Hospital showed a net loss in 2006.

After averaging more than $10 million in operating profits in 2004 and 2005, Shady Grove Adventist Hospital in Rockville recorded a net operating loss of $6.3 million in 2006, according to recently released state data. . . . The loss, which included both regulated and unregulated operations, was the second largest among the state’s 47 acute-care hospitals in 2006.

Most other Maryland hospitals showed profits for the year. The only one performing worse than Shady Grove was Laurel Regional Hospital, part of the Prince George’s County health network, which has been having severe troubles.

Shady Grove points out that the operating numbers include real estate and that in the first part of 2007 things are turning around and the hospital is once again beginning to show a profit.

(Photo from Shady Grove Adventist site.)

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