2010 better than expected for Grady Hospital
Grady Memorial Hospital in Atlanta did better financially last year than officials initially expected with an overall loss of $208,000, though it's now wrestling with a new spate of financial troubles. t marks the second year in a row the massive safety net hospital has come close to breaking even or better. Once on the verge of financial collapse, Grady saw its first profit in years in 2009 after a group of key Atlanta business leaders came together and transferred the hospital to a corporate board. "I think we've gotten to this point a little faster than we all expected to," spokesman Matt Gove said. "I think it's a testament to the potential that existed inside Grady." The hospital initially estimated its overall loss for last year at $6.3 million. An audit by KPMG, however, found that Grady had overestimated costs in some categories, such as the retiree health plan. The operating loss, which doesn't include investment income and other revenue, was $1.25 million.
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