Jun. 16, 2011
St. Joseph’s Health Care London and St. Joseph’s Health Care Foundation reported on performance for the last fiscal year (2010-2011) and signaled renewal for the future at the corporations’ annual community meeting today.
While maintaining patient care levels, St. Joseph’s ended the fiscal year with a surplus of 0.9% ($4 million) on operations—essentially a balanced budget. Thanks to investment gains, income and one-time provincial funding to support acute care restructuring, the hospital corporation ended the year with a Generally Accepted Accounting Principles (GAAP) surplus of $16 million.
“This balanced position with sound investments and working capital is good news for our capacity to invest in care, equipment, technology and facilities as St. Joseph’s continues to recreate itself to respond to the health care needs of today and future generations,” states St. Joseph’s president and CEO, Dr. Gillian Kernaghan.
St. Joseph’s was also able to invest one-time funds totalling $650,000 in areas of care under pressure in our community, including:
- four additional transitional care beds at Parkwood Hospital between last December and March
- additional hours to reduce the wait time for speech therapy
- addition of 649 endoscopy procedures, and
- addition of operating room hours to address thyroid, genitourinary and prostate cancer surgery wait times.
An additional $800,000 from the year’s surplus is committed to supporting the development of a transition care team to help support patients transitioning from mental health hospitals to other care facilities and programs in the community. This team will be up and running this summer.
St. Joseph’s continued to achieve high patient and workplace performance results. Overall patient satisfaction rankings were at or above those of all provincial hospital peers. Last July, the hospital was listed as a top performer in compliance with the provincial surgical safety checklist. St. Joseph’s was also awarded a Quality Healthcare Workplace Award this year from the Ontario Hospital Association and HealthForce Ontario.
St. Joseph’s Health Care Foundation reported that donations received in 2010/2011 totalled $6.1 million. Foundation investments showed positive returns, earning almost $5 million or 10 percent on its average investment portfolio, contributing to total assets of $52.2 million – an increase of 5.2 percent over the previous year.
“Each gift makes a real difference in the lives of people in our community and helped in the Foundation’s ability to grant more than $5.4 million to care, education and research across St. Joseph’s this year,” states Jeff Macoun, Foundation board chair. “Especially in the face of economic challenge, we are deeply grateful for these gifts and the many inspiring acts of kindness of donors and volunteers.”
Today’s meeting marked the pivotal time in St. Joseph’s history with Dr. Gillian Kernaghan as the organization’s new president and CEO.
Hospital board chair Dr. Gerald Killan says, “In Gillian we have found the preeminent leader for St. Joseph’s next era. She is grounded in the values of St. Joseph’s, with the drive and vision to unite us in a renewed quest for excellence. Gillian has the board’s full support as she sets in place a renewed vision and strategic priorities.”
Endings and New Beginnings
Last fall, patients and staff members moved from St. Joseph’s Regional Mental Health Care to Grand River Hospital in Kitchener. This was a first step in shifting some specialized mental health care resources to communities across Southwestern Ontario to enable care closer to home. And, just ten days ago, a legacy of life and love nurtured in the birthing and neonatal programs moved from St. Joseph’s to London Health Sciences Centre.
Looking to the future, St. Joseph’s continues to develop specialized acute care and day surgery programs at St. Joseph’s Hospital and is building two new specialized mental health care facilities.
“For St. Joseph’s, this has been a year of crossroads, marking endings and new beginnings - all at the same time. It is now time to signal a new era for St. Joseph’s with a new vision and goals for the future,” states Dr. Kernaghan.
Setting the tone for the coming years, Dr. Kernaghan unveiled St. Joseph’s new vision:
From the shortest visit to the longest stay,
we earn complete confidence in the care we provide,
and make a lasting difference in the quest to live fully.
“This vision keeps St. Joseph’s grounded in a legacy of care since 1869 and sets our sights on how we deliver care in the future,” states Dr. Kernaghan. We are committed to ensure we are doing our utmost to keep the needs of patients and residents central across St. Joseph’s diverse roles. Some patients see us for a matter of hours while others are in our care for weeks, months and even years. Earning complete confidence extends to our teaching and research roles as well, across a broad range of partnerships.”
New Boards Appointed for 2011/2012
The 2011/2012 boards governing St. Joseph’s Health Care London and St. Joseph’s Health Care Foundation follow:
St. Joseph’s Health Care London
Marcella Grail – Chair
Peter Whatmore – Vice Chair
Dr. Gillian Kernaghan – Secretary/President
Scott Player – Treasurer
Dr. Gerald Killan – Immediate Past Chair.
Dr. Pravin Bahtohi
Dr. Ian McConachie
Dr. Robert McFadden
Fr. Terrence McNamara
Joseph O’ Neill
Dr. Michael Strong
David Van Tright
St. Joseph’s Health Care Foundation
Ron Martindale Jr. - Chair
Jeff Malpass - Vice-Chair & Secretary-Treasurer
Michelle Campbell – President & CEO
Dr. Gillian Kernaghan
Jeff Macoun – Past Chair
Dr. Hassan Razvi
Dr. Walter Romano
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For more information contact:
St. Joseph’s Communication Consultant
519 685-4292, ext. 42470 or page 519 649-9238
St. Joseph’s Health Care, London is a major patient care, teaching and research organization with a distinguished legacy of service to London, Southwestern Ontario and the veterans of Canada, dating back more than 130 years. St. Joseph’s five key role areas include acute/ambulatory care, complex care and veterans care, long-term care, rehabilitation and specialized geriatrics and specialized mental health care. Facilities and services including St. Joseph’s Hospital, Parkwood Hospital, Mount Hope Centre for Long Term Care and Regional Mental Health Care London and St. Thomas are part of the St. Joseph’s family. Our research arm, the Lawson Health Research Institute, continues to direct their research to the development of new knowledge that is continually being applied directly to patient care. More than 400,000 patients annually receive care from close to 6,000 physicians and staff at St. Joseph’s. St. Joseph’s is affiliated with the University of Western Ontario.
St. Joseph’s Health Care Foundation gathers, grows and grants philanthropic funds to enable St. Joseph’s Health Care, London to pursue excellence in care, teaching and research. Through donor support, the foundation contributes to advances in the delivery of patient care, specialized equipment, research initiatives and capital funds for hospital building projects at St. Joseph’s Hospital, Parkwood Hospital, Mount Hope Centre for Long Term Care, Regional Mental Health Care London and St. Thomas and Lawson Health Research Institute. One of the largest charitable organizations in Southwestern Ontario, St. Joseph’s Health Care Foundation is accredited as one of only 250 charities in Canada to adhere to Imagine Canada’s Ethical Fundraising & Financial Accountability Code.