Plans to sell the Natchez Regional Medical Center have failed, but officials say cost cutting measures have made the hospital more fiscally sound.

The facility is in its first full year under the direction of Healthcare Management Partners and CEO Scott Phillips, who says efforts to make the hospital run more efficiently and save money have been working.

Phillips said the financial problems plaguing the medical center under its former management group did not have to do with a lack of revenue, but a lack of cost control.

The hospital filed Chapter 9 bankruptcy in February and officials began restructuring its debts and preparing the facility for sale. A buyer was never found.

Hospital administrators now project an annual savings of $4 million.