Hospital Shows Operating, Net Loss for January
</element><element id="paragraph-1" type="body"><![CDATA[Pinckneyville Community Hospital Board heard that the financial report for January 2011 was no better than the previous few months.
PCH posted an operating loss of $158,794 and a net loss of $129,497 for the month. That brings the year-to-date operating loss to $338,651 and the net loss to $59,243.
Outpatient numbers were down for the month, but the overall volume was good.
"We're seeing more folks who can't pay," Hospital Administrator Tom Hudgins said. "It is a difficult time for the general economy. We're hanging in there and will get through."
Hudgins also said that the number of people on Medicaid, which pays less than cost, is increasing.
The hospital is keeping a close eye on expenses and hoping the picture improves as they move forward.
PNC Bank is still interested in working with Pinckneyville Community Hospital on a mortgage for a new facility, but needs to see six consecutive months of positive financial reports before moving forward.
PCH plans to apply for a USDA loan guarantee for the $34 million new facility. However, any amount over $30 million requires the bank to shoulder 20 percent of the loan without a guarantee.
In other business, the board:
heard that the hospital will receive a $5,000 credit on their worker's compensation premium with Illinois Compensation Trust.
signed on with a the Illinois Health Information Technology Regional Extension Center for help in moving the Family Medical Center to electronic medical records, as mandated by the government. PCH will pay a total of $4,400 in three installments to the group. The remainder of their fees are covered by grants.
asked Hudgins to do some research on a proposed $16 per hour increase for emergency room physicians. Hudgins said there are several sources he can consult to determine if the increase is realistic and competitive for a critical access hospital the size of PCH. The board will make a decision in April.