Health Sciences North board approves balanced budget

Health Sciences North in Sudbury says its board of directors has approved a balanced operating budget for 2019-2020.

The hospital says it's the first balanced budget in three years, and marks the elimination of an $11.1 million deficit in 2017-2018.

"I am happy to report that HSN is in good financial health," Nicole Everest, chair of the board of directors said.

"With this stability, we can put financial resources into what matters most to northerners as indicated with the new strategic plan."

The CEO of the hospital admitted that 2018 was "challenging." Dominic Giroux said job cuts were necessary to balance the books, but added he was optimistic that there would be improvement in 2019.

In July, the NE LHIN stepped in and gave the hospital $4.8 million to help balance its budget.

According to Health Sciences North, the $512.1 million budget will help the hospital "be patient and family focused, digitally enabled and socially accountable while supporting and developing its people and strengthening its academic and research impact."

The budget includes plans to finish the area earmarkedfor a new PET scanner, build a new innovation and learning centre and start a new regional electronic medical record system.

It also indicates there's money to operate "on average 10 more beds" compared to the 2018-2019 budget.

"I'm proud of this budget and what it will mean for our patients and staff," Giroux said.

"Our senior leadership and staff worked very hard this past year at getting our finances in order, keeping the focus on patient care for the people of northeastern Ontario."