Hospital reports income loss in October
By Tara DeRock Mahoey
Senior Staff Writer
It couldn’t last forever. After months of rising hospital revenues and record-setting inpatient revenues, Morgan Memorial Hospital officials reported a net income loss for the month of October, the first such report in over a year.
Inpatient revenue was down significantly from projections; in a double whammy, Medicaid costs were up during the same period. Despite this, net patient revenue was largely on target for the current period budget; but higher-than-expected professional fees sent total operating expenses more than $100,000 over budget for October.
The patients, at least, are happy.
“Overall outpatient satisfaction remains high,” said Patrick Cook, vice president for Support and Services. Cook said hospital scores average 4.75 out of five. “Even the [emergency room] surveys are good, which is surprising, considering the nature of emergency visits,” said Cook. “I expect us to just keep getting better.”
The Morgan Hospital Authority will convene again this week for its annual audit review with accountants. There will be no regular December meeting of the Authority; instead the group will meet January 8 to hear a report on November numbers for the facility.