FMC reports ‘huge bottom line’

Page pointed out the current figure during the regular meeting of the hospital’s Board of Commissioners held Jan. 5.

Net patient service revenue showed $5,267,000 but Page also noted that two Medicaid Physician UPL payments were received during the month amounting to $2.5 million and are included in that figure. Other operating revenue included another Medicaid program, full Medicaid payment of $399,000, yielding net operating revenue for the month of $5.9 million.

Year-to-date total income, after expenses, was $2 million, compared to last year, $2.3 million, which includes forgiveness of a Payment Protection Plan loan of $2.5 million.

But Page cautioned that changes are expected in the Physician UPL payments and how those changes will affect FMC are unknown at this time.

“We don’t think it’s going to get any better,” Page said.

He noted that looking at the current year, UPLs make up $1.2 million of total excess income.

Looking at indicators, days cash on hand were up from last month. Days cash on hand for the month were reported at 172.6, but Page pointed out that the Medicare Advance Payments are due in February. He noted that $240,000 was recouped in the month of November if the same amount is recouped in December and January, a balance of $686,000 is to be paid in February

After that balance is cleared, days cash on hand will be down to 161. Days of current liability will go down from the current month of 43.2 to 31.8.

“But those are all still good numbers,” Board Member Greg Kincaid pointed out.

“Everything so far is going according to plan,” Page said.

Gross patient revenue was up 5.2 percent from last year, totalling $57,386,000 this year compared to $54 million last year, and $56,867,000 budgeted.

“So we are right at one percent above budget,” Page said.

Page said questions arise about how the hospital compares to other hospitals with regard to inpatient numbers and noted that inpatient revenue for the local hospital represents 12-1/2 percent of total revenue.

“The vast majority of what we do is not in-patient care, so it’s hard to compare our inpatient numbers to somebody else’s inpatient numbers just because of that fact,” Page said.

Hospital Administrator Blake Kramer pointed out that was on focus. Page agreed noting that adding outpatient services was part of the plan going back 20 years. 

“I think this facility has done a really, really good job doing that,” Page said.

In other highlights during the financial report Page pointed out respiratory therapy procedures were down “a good bit” from last year and lower than budgeted.

Page explained that in making the budget, it is based on the current year to project the next year.

“The last two years have been really high in respiratory due to COVID,” he said. “Those tests and procedures and such are down this year from what they were last year.”

Rural health clinics, however, posted an increase of about 2.4 percent, going from $35,859 to $36,714.

During other business, the Board of Commissioners agreed to award three scholarships to nursing staff members recommended by Director of Nursing April Winborne, MSN, APRN, FNP-C.

The scholarships were approved for Christine Murray, Bobbie Gallagher and Stephanie Bailey, who are licensed practical nurses, or LPNs, and will be used to help each of the recipients with costs associated with advancing their education to become registered nurses.

Also during the meeting, the board was advised that Dr. Jeffrey Combetta has been named chief of staff.

Board members approved a resolution making it possible for the hospital to continue a nurse/family partnership in which the state reimburses the hospital for services provided by hospital nursing staff who make home visits to new mothers to teach them how to take care of their babies.

The nurses are hired by the hospital and the state makes then reimbursements.

“They tell us how much these people need to make, too,” Kramer said.