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Connally Memorial touts record-breaking month
WILLIAM J. GIBBS JR. —
Connally Memorial Medical Center Chief Executive Officer Brian Burnside (l-r), interim Chief Nursing Officer Sue Tackitt, and Wilson Memorial Hospital District board President Ronnie Eckel celebrate during the June 19 board meeting in which Tackitt informed the board that the hospital recently won the Texas Hospital Quality Improvement Award.
The Wilson Memorial Hospital District board of directors is celebrating the news at its June 19 meeting that May 2014 was the Connally Memorial Medical Center’s best-ever month.
According to Chief Financial Officer Jamie Jacoby, higher-than-anticipated gross patient revenue due to the ongoing expansion of the hospital’s clinic system -- which saw more than 1,800 patients -- helped drive profits. Gross patient revenue was $6,463,051, including $4,681,187 in outpatient revenue. This helped Connally to finish the month with a net income of $355,133, which included $283,061 in property tax and other subsidies.
Net income fiscal year to date was $1,731,497. According to the hospital’s Chief Executive Officer Brian Burnside, Connally’s long-term financial picture also continues to improve. Total cash-on-hand May 31 was $6,968,541. Net assets were more than $29.4 million, which is almost $3.5 million more than at the same point in 2013.
The board voted unanimously to approve the financial reports. It also voted to approve these purchases:
•Resurface and repair of the hospital’s parking lot by All Pro Asphalt, $56,823. This included rescinding an earlier approval that the cost of the project should not exceed $55,000.
•Portable X-ray machine, $37,500.
In other business, the board voted to authorize Burnside to proceed with enrolling Connally into the National Rural Accountable Care Organization, subject to the favorable outcome of an ongoing legal review. As part of the approval, the board agreed to allocate $20,000 for the application fee. (See “‘Obamacare’ could mean Medicare changes for Connally,” April 23.)
•Gross patient revenue -- $6,463,051
•Outpatient revenue -- $4,681,187
•Net income (fiscal year to date) $1,731,497
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