Browse archives: 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995

Published on 03/15/1999 All articles from this issue

Dominick Curatola elected new hospital board president

printer friendly version

By Carol Tiegs

Special to the Town Crier

Dr. Dominick A. Curatola was elected to a two-year term as president of the El Camino Hospital District Board of Directors at the board's regular meeting March 10.

Curatola began his term by honoring the work of outgoing board president Dr. Paul Hoar.

Hoar's term spanned the efforts of the district board to regain control of the hospital following its privatization in 1992, in an attempt to create an integrated delivery system. The board won a settlement agreement resulting in the return to public governance on Jan. 1, 1997.

Future board structure and governance issues are on Curatola's agenda for his presidency, he said.

Mark O'Connor will serve as board vice president for the next two years. Hoar will serve as secretary. Dr. Edward Bough was elected treasurer and in-coming board member David Reeder will serve as second vice president.

In other action, hospital administrator and chief executive officer Richard Warren reported March 10 on Senate Bill 819, introduced at the district's request by Senator Byron Sher. The bill would prevent the transfer of El Camino Hospital out of the district without approval of the majority of the district's voters.

All other California hospital districts enjoy this protection, Warren said. Because El Camino Hospital had been privatized when protective legislation was enacted on Jan. 1, 1996, the hospital is not currently covered by its provisions.

The district board approved the creation of a $5 million fund to provide property insurance coverage for catastrophic losses. According to Warren, investigation by the district's consultant indicated that a self-insurance fund would be more advantageous than purchasing an insurance policy. Existing district funds would be used to create the new fund. Warren said the ability of nonprofit institutions to invest in equities should make the fund grow quickly.

The quarterly financial report presented by Chief Financial Officer Marla Gularte shows the hospital in a solid financial position with a net income of $8.9 million for the period June 28, 1998, through Jan. 9, 1999. This compares favorably to a budgeted net income of $3 million.

The hospital board also approved a 10-month on-site accounts receivable reduction project.

phase of a project begun in fall 1998 to assess and reverse current accounts receivable trends. The hospital's consultant, Receivables Management, Inc. will receive a fixed fee of $220,000 for 10 months of work, plus an incentive bonus based on the reduction of days in accounts receivable.

"A reduction of 10-30 days in accounts receivable would generate approximately $4 million to $12 million in cash receipts with (consultant's) fees representing approximately 10 percent of cash collections," Warren told the hospital board. "The interest earned on timely cash collections will cover the cost of the project in less than two years."