2023 Report to the Community

A letter from President and Chief Executive Officer Ed Kelly to the community

Fiscal Year 2023 was an important crossroads of opportunity for Milford Regional. At the same time that we celebrated our extensive legacy by commemorating the 120th anniversary of first opening our doors, strategic decisions were made and important measures were set in motion to pave the path for our promising future.  

This year was pivotal in acting on our strategy to work toward formally affiliating with a partner organization to better chart our continued success. Although we take great pride in our longstanding success as an independent community hospital, the ongoing fiscal and operational challenges over the last several years in the healthcare industry shifted that reality of maintaining our independent status. In September, we signed a non-binding letter of intent to explore the potential corporate affiliation with UMass Memorial Health (UMMH). Then, more recently, we signed a definitive agreement with UMMH that sets the stage to seek regulatory approval for the affiliation.

The UMass Memorial Health corporate affiliation is the latest decision throughout our 12-decade history in which our commitment to our community was the prime consideration. Because of this strategic decision, and others made throughout our history, Milford Regional is poised to better serve and meet the evolving needs of our community.  

Over the course of FY23, strides were made in the areas of quality & safety, patient care delivery and in the recruitment of specialty care providers. The portfolio of services available to our local patients, locally, continues to strengthen and diversify. The need for patients to look beyond Milford Regional for their care is rare. Our productive, long-standing clinical relationships with UMass Memorial Health, Massachusetts General Brigham, Dana-Farber Cancer Institute and Boston Children’s Hospital allow for streamlined coordination to benefit Milford-area patients. Milford Regional is often the point of care for these collaborative services; but even when that is not possible, solid relationships with these institutions make care received in Worcester or Boston highly coordinated with Milford Regional physicians, specialists and care management teams.

Continued accolades from well-respected health care organizations underscore Milford Regional’s commitment to safe and high-quality setting and service. Likewise, providers and administrators collaborate to bring best-in-class procedures, equipment to our patients, and the medical center and Milford Regional Physician Group continue to expand services in our service area. Last spring we held a groundbreaking for our newest satellite facility—Milford Regional in Medway—that we anticipate opening this spring to better serve our patients in Medway and neighboring towns.

As we continue our work to serve patients in the greater Milford area, the course of FY23 laid important groundwork for even more success for the Milford Regional system and the patients we have the honor to care for.  We appreciate the support of our community and we are grateful to our Milford Regional team that provide and support high-quality, compassionate care every day to every patient.      

Edward J. Kelly
President and Chief Executive Officer
Milford Regional Medical Center & Healthcare System

Introduction

Year at a Glance

Financial Statement

Leadership