Winneshiek Medical Center staff are looking for strong revenues in the second half of the fiscal year in order to meet their goals.
At Wednesday's meeting of the Winneshiek Medical Center Board of Trustees, Chief Financial Officer Lynn Luloff told the board that December's profit of $140,649 has the Medical Center "right at (the projected) budget," but said she has budgeted for strong revenues during the second half of the fiscal year, which began July1, in order to meet a goal of $1.5 million. Year to date, the Medical Center has earned a profit of almost $500,000.
"Monthly net revenue compared to monthly expenditures was better in the second quarter of the fiscal year than the first quarter," said Luloff, adding profits increased from approximately $1,100 per day to $2,700 a day.
"It's a nice improvement," said Luloff.
Luloff said the largest challenge WMC is facing is in lower inpatient volumes, a nationwide trend. There are several areas which are above projections, including skilled care, Home Health Care and outpatient revenues.
"These above-budget revenues are being driven by increases in some key patient care areas, which include laboratory, radiology, MRI, CT, mammography, occupational therapy and clinic visits," said Luloff.
She said expenses for the first half of the year remain under expectations by $320,836, or 1.3 percent.
She said in the second half of the year, "expense control will be key" to meeting budget goals.
In a related matter, the Board approved a capital request of $38,323 to re-carpet the medical/surgical corridor, which was installed in 2004 and is showing signs of wear.
The costs outlined in the request cover materials and installation of the carpet.