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After rocky July, hospital hopes to prosper in FY ’13
Connally Memorial Medical Center’s Chief Financial Officer Patricia Solis presents the July 2012 financial and statistical report Aug. 16 to the Wilson Memorial Hospital District board.
In looking ahead to what promises to be a prosperous 2013 fiscal year, the Wilson Memorial Hospital District also must look back at a July 2012 that ended with a net loss for the Connally Memorial Medical Center. This is according to information presented to the board at its Aug. 16 regular meeting.
According to the financial and statistical report presented by Chief Financial Officer Patricia Solis, the hospital ended the previous month with a net loss of $30,900. It projected to finish the month with a profit of $140,297.
Solis’ report indicated that the hospital collected $293,848 in property taxes and other subsidies, which was offset by a loss of $52,263 in “other income,” leaving $241,585 in total non-operating items. This figure was offset by an operating loss of $272,485, which resulted from operating expenses of $1,763,537 against operating revenue of just $1,491,052.
Solis said inpatient revenue was down for the month and there was a decrease in the number of days that patients needed to stay in the hospital. Expenses were higher than budgeted, because of added expenses in areas such as contract labor used to fill vacancies that result from vacations. Additional expenses resulted from relocation fees and sign-on bonuses for new doctors.
In addition to approving Solis’ report, the board also approved the operations and capital budgets for the 2013 fiscal year. However, the agenda items for both of these budgets mentioned the 2012 fiscal year. The board made no mention of the error. For more about the budget, see related article, below left.
Also during the meeting, the board:
•Approved a quarterly performance fee payment of $85,000 to Endeavor Healthcare.
•Approved paying the remaining five months of Dr. Devraj Nayak’s lease payment with Cardiovascular Associates. Connally Chief Executive Officer Jerome Brooks said the hospital will pay “a little over $1,100 per month” on Nayak’s lease with Mission Trail Baptist Hospital, planning to re-evaluate the issue in January.
Wilson Memorial Hospital District, Aug. 16 board meeting
In attendance: Board members Ronnie Eckel, Sue Coats, Jimmy Fietsam, Keith Johanson, Sandy Yow, Sam Carter, Tommy Soriero, Amy Clark, and Monica Flores; Connally Memorial Medical Center Chief of Staff Dr. Emily Frye, Administrative Assistant Shirley Bienek, Chief Nursing Officer Celeste Brizzee, Chief Financial Officer Patricia Solis, and Chief Executive Officer Jerome Brooks; and Karl Hittle and Curtis Rojas of Endeavor Healthcare.
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