How a Critical Access Hospital Bounced Back From the Brink of Bankruptcy: 5 Questions with Carthage Area Hospital CFO Rob Bloom

After seven years of steep financial losses, Carthage (N.Y.) Area Hospital, a 25-bed Critical Access Hospital, hauled itself out of the red to post a profit.

The once cash-strapped Rural and Community Hospital restructured, closing down clinics and reducing inpatient beds all to keep the hospital afloat.

Leading the way to the first profit in years was Carthage Area Hospital CFO Rob Bloom, who attained his position in November 2011. Through the restructuring process, Mr. Bloom had to make difficult decisions and establish a financial strategy to keep the hospital from bankruptcy and closure.

Here, Mr. Bloom explains how the hospital turned around its finances, offers advice for CFOs of financially strapped hospitals, discusses the challenges Carthage Area Hospital still faces and shares his thoughts on rural healthcare.

Read full article in Becker’s Hospital Review.