Morgan Memorial records $113k profit for May

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By Nick Nunn staff writer

Morgan Memorial Hospital (MMH) received a positive net income of more than $113,000 during May, despite a drop in average daily census from 18.7 in April to 16.6 in May. MMH Chief Financial Office Kyle Wilkinson said that “collections are still holding strong” for the hospital despite the drop in the census. He also stated that the hospital received its final Indigent Care Trust Fund revenue in May, $117,000 of which was able to clear receivables and contribute to the hospital’s net income. Wilkinson also pointed out that the total deductions were $175,000 better than budgeted and the net patient revenue was more than $85,000 above budget.

The non-operating revenues were also up approximately $59,000, thanks to a $60,000 contribution from the Morgan Memorial Hospital Foundation in order to update the hospital’s Omnicell program. The occupancy rate for MMH increased from 72 percent to 75 percent from April to May, and Wilkinson said that the number of surgical procedures “jumped off the page,” increasing from six procedures in April to 23 in May.

MMH’s year-to-date had a negative net income of approximately $250,000 at the end of May, which is about $130,000 less than the budgeted year-to-date loss of $121,000 for the end of May. Wilkinson stated that the hospital could still finish out fiscal year (FY) 2014, which ends at the end of June, with strong June financials and positive returns from a hospital audit. The Morgan Memorial Hospital Authority voted to approve a $13,678,449 budget for FY 2015. The budget shows an expected 5.04 percent increase in net patient revenue over the annualized FY 2014 revenue. MMHA Chair Terry Evans thanked all of the board members and everyone involved with the budget creation process, stating that “this is probably the best budget we’ve had come before us.”

Megan Morris, director of development and community relations for MMH, told the board that nine dinners have been confirmed for the MMH Auxiliary’s Festival of Friends fundraiser. She also said that several auction items, including trips to Tuscany and Antigua and a pendant from Whidby’s Jewlers valued at $1,500, have already been donated. Morris said that the hospital is also planning the next Shepeard Community Blood Drive for August 18 as well as the MMH Community Health Fair, which is set to take place on August 2.

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