Arkansas Heart Hospital Cuts Jobs

Arkansas Heart Hospital in Little Rock said Tuesday it has eliminated positions but declined to say how many.

Bruce Murphy, the hospital's president and CEO, confirmed job eliminations after Arkansas Business asked him about a tip that the hospital had laid off 50 people. In response, Murphy issued a two-sentence statement:

"With the changing healthcare landscape, we have examined our organization and consolidated our work force where possible. Unfortunately, job elimination has been part of our pro-active improvement of our performance."

Murphy, through his executive assistant, declined to comment further.

The job cuts come just months after EVP Charlie Smith and CFO Mark Hartman announced in May that they were leaving.

Smith had previously been the CEO of the hospital for six years, and Hartman was the interim CEO of the hospital for about a year. Hartman was named Arkansas Business’ 2012 Large Company CFO of the Year.

For its fiscal year that ended Sept. 30, the Heart Hospital reported net patient revenue as $143.4 million, which was up 11.1 percent from the previous year, according to Medicare cost reports. Its net income, though, was $9.56 million for its fiscal year that ended in 2012, a decline of 41.7 percent from 2011.