Financial Resources
Cincinnati Children's Hospital Medical Center is increasingly being recognized as a driving force in advancing the quality and safety of pediatric medicine. Over the past five years, we have made extensive investments in intellectual capabilities, technology and physical assets, all with the goal of assuming the leadership role in improving child health.
These investments have expanded our capacity, improved access to care for our patients and strengthened our programs in all three areas of our core mission:
- Patient care
- Research
- Education
Our investments are beginning to pay the dividends we envisioned. Our research is of such high quality and important focus that it is attracting increased external funding. The Cincinnati Children's Research Foundation currently ranks third among US pediatric research centers in grants from the National Institutes of Health. The graduate medical education programs of our Department of Pediatrics are ranked among the top four programs in the country. And Cincinnati Children's has emerged as a leader in improving the safety of care and improving outcomes for children.
This is just the beginning of the extraordinary journey to which we are committed. This journey promises to be long and highly demanding and most certainly will require a strong and stable financial performance to fuel the effort. During fiscal year 2003, Cincinnati Children's generated over $670 million of total revenue. This represented an important growth rate of 12 percent over the prior year. This growth, along with the ongoing philanthropic support of our community, allowed for a record investment in capital and, more importantly, allowed us to stabilize our workforce in the face of mounting nationwide shortages in key physician and nursing personnel.
Cincinnati Children's remains deeply committed to raising the standards of care for children. Our continued fiscal strength is an important element in this effort.
Scott J. Hamlin
Senior Vice President, Finance, and Chief Financial Officer
Download financial resources for Cincinnati Children's in portable document format (.pdf).
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