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The San Joaquin Valley Air basin historically has been among the most polluted in the nation with an average of 153 unhealthy ozone days a year in the late 1990s through 2005. While the air has become much cleaner with fewer particulates and lower ozone levels the last decade, the Valley still has pockets of intense pollution – last year, Clovis tied for second most bad ozone days in the nation.
On March 11, the financial rating service Standard & Poor's announced a two-notch, bond credit rating upgrade for Community Medical Centers, from "BBB" to "A-" with a "stable" outlook.
Community Medical Centers provided more than $186 million in uncompensated services and programs in fiscal year 2013-14, equivalent to nearly 16% of its total expenses, according to the nonprofit hospital system’s annual community benefits report filed with the State of California.
A new temporary skin substitute is helping burn patients at Community Regional Medical Center to heal faster with less pain and return home more quickly. It’s also saving the hospital more than $531,000 annually as part of an ongoing program to reduce expenses while improving care.
With California drought worries at its peak, an innovative landscaping project on Clovis Community Medical Center’s 125-acre campus will make a big difference for the city’s water use and change the way the hospital uses water.
The project, scheduled for completion in just a few short months, will use recycled water from the city of Clovis and be its first private partner in changing how water is used in the city.
For the second time in just two months, Community Medical Centers has received an improved financial rating that cites strong clinical services and stellar management among other attributes as a case for the upgrade.
At a time when other nonprofit hospitals across the nation are being downgraded, Community Medical Centers’ new ratings assessment from Standard & Poor's has been upgraded from BBB/Stable to BBB/Positive. This is a long-term rating/outlook on our hospital revenue bonds.
The improved outlook, which could be a significant benefit to Community’s long-term financial leverage, was based on four main factors: