DKH pg 1 6-3-21
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- Category: Current Issue
PUTNAM — After weathering a “year like no other” Day Kimball Healthcare is looking toward the future, and is “one step closer” to finding a “strategic partner."
In his pre-recorded address for the annual corporators meeting, DKH CEO Kyle Kramer said: “The Day Kimball Healthcare Board of Directors remain committed to finding a strategic partner to help provide the best care possible to northeast Connecticut residents and to weather changes in the health care industry. A strategic partnership would bring a combination of key technologies and best practices to drive financial improvement. We are pleased to share that we are one step closer to formalizing a relationship with a larger health system that will keep Day Kimball at the forefront of health care innovation, and we look forward to the day we can announce where we are headed. Our future is bright and we are confident that the strategic direction we pursue will lead our organization and the communities we serve to a better tomorrow.”
He added, “It is evident that health care will continue to be capital intensive as our community grows and the trend of delivering care closer to home accelerates.”
In highlighting the DKH fiscal year, he said COVID-19 proved that “challenging times drive innovation.”
He said DKH experienced positive operating margins in recent fiscal years and the fiscal year 2020 budget called for an operating gain of just over $400,000 which would have marked the third consecutive year of generating positive operating margins. Then COVID-19 hit.
Paul Beaudoin, CFO, said: “Despite the challenges we faced in 2020, we are working hard to return to profitability in fiscal year 2021. Patient activity began to improve during the last four months of the 2020 fiscal year as we began to resume select procedures and services that were delayed due to executive orders related to the pandemic.”
Janice Thurlow, chairman of the DKH board, said, “Despite the challenges 2020 brought, Day Kimball came together as an organization in extraordinary ways to weather the COVID-19 pandemic.”
Kramer highlighted a number of distinctions and designations for quality care earned during the last fiscal year.
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