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S&P, Moody's Give Atlantic Health System Highest Health System Rating in NJ

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MORRISTOWN, NJ - Atlantic Health System, a leading health care delivery system in New Jersey, is once again the highest-rated New Jersey based system rated by credit agencies Moody’s and S&P.

Moody’s raised its rating for the health care organization from A1 to Aa3, the highest rating among all health care systems in New Jersey, with an outlook of “stable.” The rating upgrade reflects Atlantic Health System’s continued stability of operating performance and financial growth of the balance sheet, as well as its favorable market position and the “wide array” of services it provides.

S&P affirmed its “AA-“ rating for Atlantic Health System due to its strong presence in the region and increased system diversity among its six hospitals and a network of community-based physicians throughout northern and central New Jersey. Along with only one other organization, this is the highest rating given to health systems in NJ by S&P. Atlantic Health System’s outlook with S&P remained stable.

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The ratings actions by both agencies put the system in a favorable position to leverage its credit strength and allows the system to issue or refinance its debt at more favorable interest rates. Atlantic Health System may pay less on interest on its bonds and allow the organization to invest more of its money in patient care initiatives, including technology, skilled staff and infrastructure.

“These ratings further demonstrate the value of developing our connections to the communities we serve through wise growth, investment in innovation and continuously improving care, said Kevin Lenahan, senior vice president and Chief Financial and Administrative Officer for Atlantic Health System. “The rating upgrade puts us on even better footing to fulfill the health care needs of our communities.”

Moody’s also highlighted Atlantic Health System’s ability to reach agreements in many of its host communities on fair-share community contributions in response to municipalities’ review of the tax-exempt status of hospitals and other facilities.

“A key credit strength of the system speaks to management's ability to navigate recent state and local budget challenges quickly and proactively,” Moody’s said in its rating.

S&P highlighted “AHS’ focus is on continued development of population health infrastructure and strategies to drive growth to the organization.” This includes increased integration between owned and independent hospitals, Atlantic Medical Group, community based physicians, and payers.

The credit agencies noted the following among the reasons for Atlantic Health System’s enviable ratings and outlook:

  • Atlantic Health System is a large multi-site organization with more than $2.5 billion in revenue and 100,000 total admissions (including observation stays and admissions)
  • The strong presence of the system in the region, including the growth of the system. The agencies noted the acquisition of Hackettstown Medical Center in April 2016, as well as Atlantic Health System’s participation in the Mid Jersey Health Alliance with Hunterdon Healthcare System, which coordinates care and offers expanded clinical services in Hunterdon, Somerset, Mercer, and Warren counties
  • The rapid growth and increased integration of Atlantic Medical Group, which now includes more than 900 community-based physicians and other providers
  • Continued growth in operating margins, cash measures and debt leverage measures

S&P noted Atlantic Health System’s significant additions of several key leadership roles covering patient experience, integrated care delivery, and innovations and technology following the addition of President and CEO Brian Gragnolati in 2015. The agency also highlighted Gragnolati recently being named chair-elect designate of the American Hospital Association. He will assume the board chairmanship in 2019.

Among other successes reported to the credit agencies has been the performance of the two accountable care organizations (ACOs) affiliated with Atlantic Health System – Atlantic ACO and Optimus Healthcare Partners. Both ACOs produced shared savings for Medicare.

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Montville

Upcoming Events

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Sat, July 21, 10:00 AM

Chubb Park, Chester

Morris County 4-H Fair

Arts & Entertainment

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Sat, July 21, 12:00 PM

Amphitheater behind the Montville Twp Public Library, Montville

Sam Jam Benefit Concert

Arts & Entertainment Giving Back

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Sun, July 22, 10:00 AM

Chubb Park, Chester

Morris County 4-H Fair

Arts & Entertainment

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Sun, July 22, 10:30 AM

Pyramid Mountain, Montville Township

"Stream Study"

Education

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Mon, July 23, 1:00 PM

Montville Township Public Library, Montville

"The Great Gatsby" (2013)

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Montville Township High School Hall of Fame Committee Seeks Nominations

July 19, 2018

MONTVILLE, NJ – The Montville Township High School Hall of Fame Committee has announced that its next induction banquet will be held on April 26, 2019. The committee is currently seeking nominees for its 2019 induction class. 

The MTHS Hall of Fame seeks to honor alumni of MTHS for their exceptional achievements and for being outstanding representatives of the values ...

How About a Montville Twp Staycation?

July 16, 2018

MONTVILLE, NJ – Staying in Montville Township this summer? How about a Montville staycation? There’s lots to do in the township, all throughout the summer.

If you’re free on Tuesday nights, take in some music as the recreation department’s free summer concert series has started. Bands such as the Chapel band, Degrees Below Zero and Arena will be rocking at the ...

Montville's Hero and POW Hjalmar Johansson Dies

July 1, 2018

MONTVILLE, NJ – Montville resident and World War II prisoner of war Hjalmar Johansson died suddenly on June 30. He was 92.

Johansson was a nose gunner in the Air Force during WWII in a B-24 bomber aircraft. He was shot down during his first mission and then survived six months in a German prisoner of war camp. One of 17,000 prisoners, he was freed by the Russian forces. By that ...

Montville Township Public Schools Named National District of Character; Lazar Middle School Named National School of Character

July 12, 2018

MONTVILLE, NJ – Montville Township Public Schools was one of only five districts in the nation to be named a 2018 National District of Character by Character.org, a nonprofit organization that validates character initiatives in schools and communities around the world. In addition, Montville Township Public Schools’ Robert R. Lazar Middle School has been named a 2018 National School ...

Prescription Drug Drop Installed at County Govt. Center in Morristown Offers Safe Disposal Site for Prescription Drugs

July 15, 2018

MORRISTOWN, NJ – Morris County employees and residents now have an additional location, inside the county government complex in Morristown, to safely and conveniently dispose of unwanted or leftover prescription drugs.

A new prescription drug drop box has been added to the lobby of the Morris County Administration and Records Building, which is located at 10 Court St. in Morristown, ...

Rutgers Hikes Tuition, Student Fees for 2018-2019 Academic Year

July 19, 2018

NEW BRUNSWICK, NJ - Rutgers University Board of Governors today approved a 2.3 percent hike in tuition and fees, as well as increases for dorm rooms and meals, for the 2018-2019 academic year.

The increase now brings the annual cost for undergraduate students to $14,975, which is $337 more than this past school year.

Student housing will increase 1.9 percent, and ...

RE/MAX Neighborhood Properties New Listings

July 18, 2018

Click HERE to see all New Listings.

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OPEN HOUSES This Weekend July 21 & 22, 2018

The following homes have OPEN HOUSES presented by RE/MAX NEIGHBORHOOD PROPERTIES this weekend.

SUNDAY, JUNE 22, 2018:

  From 1 - 4 p.m.

  170 Morris Avenue, Mountain Lakes

  Click HERE to see full listing.

 

  From 2 - 4 p.m.

  4 Meadow Court, Montville

  Click HERE to see full listing.

 

  From 2:30 - 4:30 ...

OPEN HOUSES This Weekend July 14 & 15, 2018

The following homes have OPEN HOUSES presented by RE/MAX NEIGHBORHOOD PROPERTIES this weekend.

SATURDAY, JULY 14:

 From 12 - 2 p.m.

  4 Hickory Drive, Montville

  Click HERE to see full listing.

 

  From 2:30 - 4:30 p.m.

  25 Kanouse Lane, Montville

  Click HERE to see full listing.

 

 From 11 a.m. to 1 ...

Century 21 Open Houses this Weekend

MONTVILLE, NJ - Following are open houses for Century 21 The Crossing this weekend:

Sunday, July 22 from 1 - 4 p.m.

20 Henning Drive, Fairfield

18 Renshaw Drive, Montville 

Sunday, July 22 from 2 - 4 p.m.

3 Louis Drive, Montville

 

AtlantiCast

AtlantiCast: Episode 18

On this week’s AtlantiCast, you’ll find out how accessing care at Atlantic Health System is now easier, more affordable and closer to home than ever, learn which item from the produce aisle could be the newest weapon against cancer, see what Atlantic Health System, the New York Times and Instagram all have in common and much more.

 

 

Pet Corner

Summer Adoption Event at the Montville Animal Shelter

July 17, 2018

MONTVILLE, NJ - If you’re considering  a furry addition to your family, the summer season is the perfect time to provide a shelter dog or cat with a loving home. To encourage pet adoption and bring even more joy to your homes this season, the Montville Animal Shelter is hosting a adoption event on July 28, 2018!

On July 28, 2018 enjoy discounted fees on all animals ...

Summer Adoption Event at the Montville Animal Shelter

July 17, 2018

MONTVILLE, NJ - If you’re considering  a furry addition to your family, the summer season is the perfect time to provide a shelter dog or cat with a loving home. To encourage pet adoption and bring even more joy to your homes this season, the Montville Animal Shelter is hosting a adoption event on July 28, 2018!

On July 28, 2018 enjoy discounted fees on all animals ...