WMC following national trend of lower inpatient census
Friday, October 11, 2013 3:41 AM
Winneshiek Medical Center is not alone when it comes to seeing lower inpatient volumes.
At Wednesday's meeting of the Winneshiek Medical Center Board of Trustees, Chief Financial Officer Lynn Luloff said after two months of the fiscal year, "Our budget (anticipated) revenue shortfall is in our inpatient revenues. What we are experiencing with lower inpatient volumes has been seen across the country."
She said this year's operating results are also under projections due to lower-than-anticipated clinic volumes.
For August 2013, WMC recorded a profit of $129,096, bringing the total for the fiscal year to $144,636.
She said patient revenues (before contractual deductions) were $6.9 million, which is similar to July.
Conversely, WMC is seeing an uptake in outpatient revenues.
"Eighty-two percent of our patient revenues are generated from services being generated on an outpatient basis," she said, adding this year's outpatient numbers are stronger than last year by 9.5 percent.
"Skilled revenues continue strong this fiscal year with 286 skilled patient days so far this year, which are up 142 days from last year at this time," she said.
She said while clinic revenues of $2.9 million are under projections, that number is still 12 percent above last year.
"That increase is due to a 6.2-percent increase in clinic visits, which reflects growth - a positive," she explained.
Luloff added WMC's operating expenses of $4 million were 5 percent under projections for the month and are 2.4 percent under expectations for fiscal year-to-date.
While Luloff explained the government shutdown has not had an immediate effect on operations at WMC, she did cite some possible impacts on the healthcare industry in general.
Some of the activities she said were being impacted by the shutdown are fewer surveys, no new patients being taken on for clinical trials by the National Institutes of Health, a hold on Food and Drug Administration routine inspections and reduced compliance and enforcement activities.
She said payments for services provided to Medicare and Medicaid beneficiaries are currently not impacted by the shutdown.