Phoebe Putney Memorial Hospital announced today that Moody’s Investors Service has reaffirmed the hospitals A1 status on bonds issued through the Hospital Authority of Albany-Dougherty County. This analysis incorporates the financial performance of the entire Phoebe Putney Health System.
 
According to Moody’s, the A1 status reflects expectations that  fiscal year 2017 performance will show improvement over fiscal year 2016 given the completion of the IT electronic medical record system installation and implementation of expense management strategies. Moody’s also cited challenges the health system faces which includes above average Medicaid exposure and modest service area economic levels as well as low population growth.
 
“The affirmation of Phoebe’s A1 rating reinforces that  Phoebe is on a solid financial foundation – providing  the health system with the financial stability to ensure we are delivering the best possible care to everyone in our community,” said Brian Church, senior vice president/chief financial officer at Phoebe.