Strong May helps WMC bottom line
Monday, July 14, 2014 11:45 AM
A strong May boosted financials at Winneshiek Medical Center just one month away from the close of the fiscal year.
According to WMC Chief Financial Officer Lynn Luloff, May’s gross patient revenue of $7.6 million was the highest monthly total this fiscal year. The figure is 22 percent or $1.3 million higher than last year at this time, and above projections by 3 percent or $211,332.
“Revenues of $6 million were generated from hospital services, and $1.6 million in clinic revenues,” said Luloff at Wednesday’s Board meeting.
Luloff said hospital profit was above expectations, with the largest area of growth being in outpatient revenues. Clinic revenues also came in ahead of projections at 19 percent more than last year.
Luloff said year-to-date net revenues have increased 8.4 percent over last year. Balancing that is an increase in expenses of 9.4 percent from last year at this time.
May saw a gain of $52,294, bringing the year-to-date profit to $1.2 million.
In a related matter, the Board approved $110,200 in capital improvements for ductwork and control upgrades for air handlers in order to increase comfort for patient and staff.
The Board also approved $56,136 for an endoscopic processor for surgery. This processor provides high-level disinfection for endoscopic scopes.
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