Hospital board reviews financials
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Ringgold County Hospital’s board of trustees held a brief regular monthly meeting on Monday, February 27.
The board heard a mixed review from CFO, Missy Walter regarding financials for the month.
They also heard reports from Katie Willcox, chief of staff, and Amy Mobley and approved appointment and reappointments to staff.
From a financial standpoint, January saw a neutral trend in revenue with inpatient revenue ahead of budget by $961,000 and outpatient revenue also over budget by $778,000.
This was mostly due to surgery, scopes, lab, wound care, mental health and other ortho implants.
Primary and specialty clinic revenue exceeded budget by $67,000, with MAMC office visits and ortho procedures impacting that number.
Walter noted the highest revenue paying inpatient departments were acute room, surgery, lab and pharmacy.
Net revenue was over budget by $709,000 and total operating revenue was $2.8 million with the 340B program contributing $9,600 for the month.
Total operating expenses saw a desired downward trend as salaries and wages were under budget by $11,000, due in part to ER doctor wages and MAMC provider wages and physical therapist wages lower than anticipated.
While salaries and wages came in under budget most other areas were over budget.
Benefits totaled $841,000 for the month. Walter explained provider benefits reset in January which creates upfront accruals rather than accrued hours as worked.
Insurance claims were higher than expected.
Contract labor was over budget by $77,000, due to acute, PT and mental health contracted staff, fees were over budget by $99,000 due to purchased services for the business office, HIM and IT purchased services and IT purchase service fees for the new EMR implementation.
Supplies and drugs also exceeded budget by $13,000, mostly due to billable supplies.
Facility costs went over budget mostly due to electric costs and depreciation expense was over by $10,000.
New assets put into place were repairs to the alarm system and lighting in surgery.
Total operating expenses were $2.9 million, topping the budgeted amount by $634,000.
In two short reports, Willcox reported that Dr. Homedan, visiting orthopedic physician will be joined by a new PA, Nicholas Vellema, PA-C.
Mobley reported LifeLine will be going wireless, EMS, Imaging and Sleep Study all passed their inspections and Mission Cancer had a successful first day.
Joe Mangiameli, outgoing CEO, addressed the board thanking Debbie Klommhaus, for modernizing our approach to receiving funds and indicated plans are in place to continue to watch the budget and make cuts if needed.
Mangiameli also thanked all those he had worked with and the board echoed their own thanks for Mangiameli’s work and time serving as CEO.
Rhett Murphy, director of operations, announced that with the resignation of board member, Tessa Barnes from the RCH Foundation, board member, Karleen Stephens was proposed to replace Barnes.
The board gave unanimous approval.
Rounding out the board meeting, new board chair, Mike presented a list of staff, reviewed and approved for appointment and reappointment.
This list includes: Initial appointments Indira Challa MD, Psychiatry, Telemedicine Nicholas Vellema, PA-C, Family Medicine.
Reappointments were: Denise Coleman, ARNP, Family Medicine, Active Staff James Meyer, DO, Pulmonary, Consulting Staff.