St. Joseph’s reported strong financial results for 2022-2023 as we continued to focus on recovery from the COVID-19 global pandemic.
During 2022-2023, St. Joseph’s was able to meet or nearly meet all volume accountabilities established with Ontario Health West, including 321,000 patient/resident days, 23,000 surgeries, 51,000 urgent care visits and 787,000 outpatient and outreach visits, including 92,000 virtual visits.
As part of St. Joseph’s pandemic recovery efforts, a total of 32 incremental beds were operated at Parkwood Institute throughout the year and, with the support of Ontario Health’s surgical recovery strategies, St. Joseph’s completed an additional 2,000 surgeries to support our health system and community.
St. Joseph’s ended the fiscal year with an accounting surplus of $14.9 million, driven by confirmation of government funding above our budget estimates and strong performance of our investment portfolio. The surplus will enable critical future investments including the ongoing renewal of our facilities and enhancements to virtual care solutions, expanding St. Joseph’s electronic health record OneChart and modernizing technology across St. Joseph’s to enable improved system integration and decision making.
We have invested $23 million in new equipment and building-related projects, including MRI upgrades and floor replacements at St. Joseph’s Hospital and the creation of a new clinical space at Southwest Centre for Forensic Mental Health Care, to enhance the care of our patients during assessment and treatment. We are grateful for the support of St. Joseph’s Health Care Foundation and the generosity of its donors, contributing more than $1 million to St. Joseph’s capital investments.
As an organization we face ongoing challenges as we continue our recovery from the pandemic. We stand confident in continuing to respond to the needs of our community and health system. In maintaining a stable financial position, we are continuing our mission of excellence in care and our pursuit of forging a better health care system for those we serve.
Mary Gillett,
Treasurer, St. Joseph's Health Care London Board of Directors