ELIZABETH — NJ Moody’s Investors Service, a national agency that evaluates the ability of business entities to repay their debt, has raised its outlook for Trinitas Regional Medical Center to positive from stable and has affirmed its Baa3 rating. This upgrade follows similar action from Standard and Poor’s Rating Services, which affirmed the Medical Center’s rating and raised its outlook from stable to positive late in 2012.
The Moody’s report cites the Medical Center’s “improved levels of financial performance over the past several years, growth in unrestricted cash and investments, and success in operating in an environment with a weak payer mix.” The report further noted Trinitas’ “positive trend of outpatient volume growth in 2012 with emergency room visits up 6% and outpatient visits and outpatient surgeries each up 5%.”
“Here at Trinitas, we’ve taken many steps recently to increase efficiency and improve the quality of care,” notes Gary S. Horan, FACHE, President and Chief Executive Officer of Trinitas. “These include our investment in technology such as the daVinci Robotic Surgical System and AccuBoost radiation therapy, and our commitment to professional and community education through our new Center of Regional Education (CORE) building.”
“It is rewarding that Moody’s has recognized the efforts of our Board, management, physicians and employees,” notes Horan. “Our work to improve care in this challenging environment makes for a healthy hospital and, in turn, a healthy community.”
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