FEBRUARY 16, 2007 - Posted at 7:24 a.m. CST
MEMPHIS, TN - The Regional Medical Center in Memphis will think about bringing in a management firm to run the hospital.
The board of "The Med" voted unanimously Wednesday to explore that option. However, the hospital will continue its effort to hire its own chief executive officer.
The Med is the Level One trauma center for west Tennessee, which means it gets the most serious injury and wounding cases. It also has the region's burn center.
Officials say expenses are rising, but revenue isn't and government support is lagging. The big hospital is expected to have a deficit up to $10 million this year, but there are other issues.
The chairman of the hospital's finance committee says the Med needs up to $75 million for equipment and renovations plus an estimated $37 million for a new emergency department.