September 23, 2016
On September 15, 2016 Standard and Poors issued a press release outlining its upgrade to Fort HealthCare’s bond rating from BBB to BBB+. James Nelson, CFO for Fort HealthCare, stated, “The upgrade to the bond rating is due to the continued growing economic strength of a small community hospital. While we don’t chase bond ratings, S&P’s upgrade is a nice affirmation of the hard work that our management has been doing these past few years. In S&P’s detailed credit profile they cited, ‘In our view, Fort HealthCare’s recent and ongoing financial turnaround is the direct result of the strategy implemented by its capable and disciplined management team. The hospital is adapting to industry reform by focusing on primary care and outpatient utilization, reducing its expense base, and pivoting toward more population health initiatives. In addition, the leadership team has worked to retain the culture of the organization and its position in the community by avoiding layoffs.’”
Mike Wallace, President and CEO further commented that, “During the recent recession, almost every person and business were affected. Healthcare was doubly affected as the Accountable Care Act was implemented, which called for reductions in Medicare reimbursements to providers to fund its implementation. Fort HealthCare responded to the economic challenges in a way that was consistent with our strong patient and employee focused culture. Also during that time Fort HealthCare began implementing critical strategies that will position it to continue improving the health and well-being of our community – focusing on our population health initiatives with the community.”
Fort HealthCare continues to be an independently operated, locally-controlled, not-for-profit integrated hospital and health system that attracts patients from throughout southeastern Wisconsin. Fort HealthCare is committed to improving the health and well-being of our communities, with a vision to be the healthiest community in Wisconsin. As the leading healthcare provider in the region, it is our goal to reach as many members of the community as possible with health and wellness messages, providing tools and resources to help individuals improve their health and quality of life, while collaborating with several partners to positively improve the population’s health overall on a long term basis.
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