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Hospital finances continue healthy trend
The Wilson Memorial Hospital District board of directors, has formally accepted its November financial and statistical report; the board also took measures intended to improve services while cutting costs. These actions were taken during the Dec. 19 regular board meeting.
Brian Burnside, chief executive officer for the Connally Memorial Medical Center, presented the financial report, which showed a net income of $160,886. Although the tables reflected an actual operating loss of $41,008, Burnside and Jamie Jacoby, chief financial officer, pointed to positive trends in the hospital’s financial condition.
“The balance sheet is healthy,” Jacoby said, noting lower agency costs and a higher number of surgeries performed at the hospital, among other factors.
The board went on to consider action regarding several service contracts.
Jacoby recommended the district contract with ICE Technologies to provide “meaningful use” computer technology support, transition to a new coding system, and assist with technology upgrades. He explained that another company offered to do the job for $1 million a year, but ICE agreed to do the job for $330,472 a year. The board accepted the contract with ICE Technologies.
The board also approved:
•To renew a contract with a surgeon to provide 24/7 coverage of the emergency department.
•To adopt new insurance coverage for workman’s compensation, property and casualty, and directors and officers, with an estimated savings of $28,000 over premiums paid last year.
•To purchase a new digital mammography machine for $183,950 that would streamline processing and filing.
•To purchase new echocardiogram equipment at a cost of $172,080 with a projected long-term savings.
•To adopt a service contract for radiograph images with a projected savings of $25,000 over a 12-month period.
Also discussed was the future of the hospital under government-mandated changes in health care.
“For now we have to succeed [through] fees for service, but we must be prepared for health-care reform,” Burnside said.
Board president Ronnie Eckel added, “We have a lot of work to do.”
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