2013 Annual Report

Midland Memorial Hospital accomplished a great deal in Fiscal 2013, highlighted by the opening of the long-awaited Dorothy and Clarence Scharbauer, Jr Patient Tower. The support offered to Midland Memorial Hospital by the people of Midland County, both donors and taxpayers, has been nothing short of phenomenal. The staff and physicians of Midland Memorial Hospital are privileged to serve our great community, and look forward to continued improvement in years ahead.

Take a look at the highlights of the past year’s accomplishments: 

QUALITY

• Mission: Lifeline STEMI Receiving Center Silver Performance Award from the American Heart Association
• ACTION Registry – Get With The Guidelines (GWTG) Platinum Performance Achievement Award from the American College of Cardiology Foundation’s NCDR Action Registry
• Get With The Guidelines Silver Award for Heart Failure Care from the American Heart Association
• Healogics Center of Distinction Award
• Healogics Robert A. Warriner III, MD Center of Excellence Award

CONSTRUCTION

• Energy Management Projects
• Barbara O’Shaughnessy Courtyard Renovations
• Completion of 6 Additional Patient Rooms
• Illinois Entrance Improvements
• Landscape Improvement Projects Tenant Buildouts for Medical Office Buildings Renovation of West Texas Therapy (Outpatient Physical Therapy Services)
• Premier Urgent Care at West Campus
• Upgrades to Surgical Suites 

FINANCIAL

• Net income before capital contributions of $8,588,713, compared to the prior year’s net income of $15,492,776.  
• The change year over year included substantial increases in depreciation and interest expense (approximately $6.3 million), both directly related to the opening of the Scharbauer Tower.
• During fiscal year 2013, Midland Memorial improved its overall cash position by adding 6.8 days of cash on hand, or $6.4 million.