By Patrick Yost
Morgan Memorial Hospital made a $141,000 for the month of July, Morgan Memorial Chief Financial Officer Kyle Wilkerson said last Thursday during the regular monthly meeting of the Morgan County Hospital Authority.
Wilkerson said the facility had $1,954,395 in total gross patient revenue compared to $1,094,648 in total operating expenses for a net loss of $17,392. However, when you factor in $75,000 in capital grants and contributions the facility received and another $83,333 in contributions from Morgan County, the facility was able to show a profit.
Categorically, the facilty had $26,191 in inpatient fees; $502,673 in outpatient fees, $766,510 in emergency room income and $660,021 in swing bed revenue. Morgan Memorial had a $225,299 charge off for bad debts and another $658,049 deduction for “contractual allowances.”
Expenses also included $505,644 for the month for salaries, $257,689 for professional fees, which also include staffing the emergency room service and $188,849 for “other expenses.
Revenue for the month was $81,000 higher than July, 2015. In July 2015, the hospital also recorded a $52,000 loss.
Wilkerson also presented a chart representing uninsured charges for the past five years. Fiscal year 2014 represented the worse loss for uninsured charges at $2,274,770. “That $2 million in charges we gave away to people that don’t have insurance,” he said. “That speaks to the need of having services that pay well.”
According to Wilkerson’s chart, Morgan Memorial has lost approximately $8 million in uninsured charges from 2010 to 2014. Wilkerson said 2015 charges would be available soon.
“There is an awful lot of people that cannot afford to go somewhere else and we are here for them,” said Authority Chairman Terry Evans.