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Hospital begins first quarter with strong profit

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By Tia Lynn Lecorchick managing editor

Morgan Memorial Hospital’s financials for the first quarter of the fiscal year are in the black for the first time in six years. The month of September proved to be a stellar month for MMH, closing the first quarter of the fiscal year with a black bottom line of about $14,000. The month of September had a total net income of $154,000. Collections for the month of September were also fruitful, totaling $1.223 million. MMH’s Average Daily Census is up from last year to 20, which amounts to about 5 patients more from last year. “Historically the first three to six months of the fiscal year have been slow and we spend the last six months attempting to catch up,” said Ralph Castillo, CEO.  “This year has been unique in that during the first quarter we experienced increased volumes.  Growth, combined with a continued focus on maintaining expenses, allowed us to end the first quarter with positive results.” According to Kyle Wilkinson, Chief Financial Officer for MMH, the primary reason for the September 2014 Net Income was patient volume.  “Our Acute Census days increased from 19 in August to 42 in September.  Our Outpatient Visits increased from 359 in August to 385 in September.  Finally, our Swingbed Days increased from 436 in August to 538 in September,” explained Wilkinson.  “This all led to a Gross Patient Revenue of over $2.3 million.  This is the first time since I have been the CFO that we have topped $2.3 million in Gross Patient Revenue.  As always we held our operating expenses in check and that lead to a $154K Net Income for September 2014.  The September Net Income helped MMH achieve a Net Income of $14K for the first quarter of FY 2015.  This is the first time in six years we have achieved a first quarter in the black.”

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