Pinckneyville Hospital Ends Fiscal Year with $594,012 Operating Loss
</element><element id="paragraph-1" type="body"><![CDATA[For the month of April, the hospital showed an operating loss of $102,719 and a net loss of $52,235. Pinckneyville Community Hospital finished the fiscal year ending April 30 with a year-to-date operating loss of $594,012 and a net loss of $194,319.
"I hate to lose money- period," Hospital Administrator Tom Hudgins said. "Net revenue for the fiscal year was $1.7 million under budget."
Some of that revenue loss can be attributed to an increase in bad debt, financial need and hospital deductions-the difference in what is billed to Medicaid and Medicare and what is actually paid.
For the fiscal year ending in April, the hospital wrote off $532,536 in bad debt compared to $498,816 in the prior year. Expenses written off due to financial need went from $367,659 in the previous year to $537,020. Likewise, hospital deductions increased from $10,991,078 to $11,187,245.
Hudgins said gross revenue for PCH in the year ending April 30 was $29,056,307.
Since the recession began, the number of patients unable to pay all or some of their bills has increased.
Despite the loss of revenue, the board continues to hold the line on real estate taxes. The tax appropriation ordinance which was passed Monday is less than five percent higher than the previous year. No truth in taxation hearing will be necessary.
PCH will not be able to receive financing for a new facility until they show six months of positive financial reports, but the dream of a new hospital is not dead. Hudgins said PCH received a one-year extension on the Certificate of Need allowing them to build a new hospital.
In other business, the board:
approved the purchase of new wireless access points at a cost of $6,108, an upgrade to the mammography equipment at $69,402 and a $14,435 microscope for Ear, Nose and Throat surgeries. Dr. Nranat Dejti will be able to perform ear tube surgeries with the microscope. The mammography upgrade will allow a very short turn-around on results. Digital mammograms will be read either on site or in Springfield immediately after the images are taken.
noted that the bond account will be fully funded as of Nov. 1 of this year.
discussed progress on electronic medical records for the Family Medical Center. Demonstrations on three EMR systems have been scheduled.
heard that Carla Bruns was elected President of the Illinois Society of Hospital Risk Managers.
heard that 1,000 Community Needs Assessment surveys will be sent to random households in the top five zip codes served by PCH. Those receiving the surveys are asked to complete them and send them back to the company conducting the survey. PCH will receive only the summary. The surveys will be confidential. The survey will be paid for through a grant. Hudgins said he expects the surveys to be mailed the second week of July.
heard that Sports Physicals will be held June 15 and July 13 on the third floor of the high school from 6 to 8 p.m. Cost is $10 and proceeds will be donated to the athletes' schools. For more information, call 357-5990.