IE Business Daily Business news for the Inland Empire.
Riverside County Regional Medical Center has a new chief executive officer.
Zareh Sarrafian, 50, took over as head of the county-run hospital in Moreno Valley earlier this week, replacing interim CEO Lowell
Johnson, according to a report in The Press-Enterprise.
Sarrafian, Riverside resident, will be paid $345,536 annually. He will oversee the hospital’s transition from one that treated mostly indigent patients to a facility that serves the entire community, according to the report.
In 2013, the 439-bed hospital lost about $1 million a week and had annual losses of about $50 million. The county then hired Johnson and entered into a multi-million deal with Huron Healthcare, a consulting firm in Chicago, to help stabilize the hospital’s finances.
This year, the hospital’s budget is expected to be balanced and officials are now looking at ways to expand its services, according to the report.
