October strong month at WMC
Tuesday, December 10, 2013 1:39 AM
While October is usually a strong month at Winneshiek Medical Center (WMC), this year's revenues were even higher than anticipated.
At Wednesday's meeting of the WMC Board of Trustees, WMC Chief Financial Officer Lynn Luloff explained total patient revenues for October were $7.6 million, which was 3 percent above expectations and 11 percent ahead of last year.
"After contractual allowances, our net patient revenues were $4.4 million," said Luloff.
Even though October finished strong, Luloff said November's revenues are not predicted to be as high.
Year-to-date, total patient revenues still fall 3 percent under the budget, but 10 percent above last year at this time.
October revenues exceeded September's by $1.1 million, due to strong revenues for the month.
"We saw upward utilization trends in Imagine Services and Lab. October was breast cancer awareness month, and compared to last year, mammograms performed are up by 45 tests.
Luloff said the Medical Center's biggest challenge this year has been the cost of supplies.
Luckily, many departments with above-budget supply costs also have higher-than-expected revenues this fiscal year.
October's net gain was $199,252, bringing the total net gain for fiscal year 2014 to $437,749.
In a related matter, the Board approved capital equipment requests in the amount of $132,441. These included a new ultrasound system for the emergency department, new podiatry power equipment for surgery and a new surgical table.