Budget numbers show Franklin Medical Center’s patient revenues continued an upward trend at the end of July.
Last month, Chief Financial Officer Billy Page announced the highest patient revenues in history. This month, patient revenues totaled approximately $8.2 million, second highest in FMC’s 50 year span.
During the Sept. 2 Board of Commissioners meeting, Page explained several factors went into the rise in patient revenues.
“Emergency room, RHCs and physician clinics stats are up so revenues related to those areas are up” Page said. “Another factor is that patients in beds are up 3.7 percent from last year, but also acuity is up so everything related to those patients are higher such as drugs, IVs, respiratory, supplies, ancillaries, etc.”
Adding to revenues were the outpatient (OP) COVID-19 infusions, Page said.
“Average pharmacy revenue per month is 37 percent higher than last year, and IV is up 16 percent,” Page said. “But, I don’t have how much of that is due to COVID infusions versus other (in patient) IPs and OPs per the acuity discussed. However, the drugs used for COVID patients, both infusions and other treatments, are much more expensive than what we have used in the past.”
Outpatient revenues fueled the capital rise with FMC taking in approximately $5.3 million for a three month period ending July 31, according to budget numbers.
Second highest revenue source was RHC numbers at $902,321 followed by $833,302 in inpatient revenue.
Salaries and wages were FMC’s largest expense at approximately $1.3 million, and contract services was second largest expense at $646,554.
After subtracting expenses from revenues, FMC’s total income year-to-date stands at $369,520.
Meanwhile, FMC was listed as a Living Well Foundation grant recipient. The grant will help fund the expansion of its Behavioral Health Unit.
FMC was one of 17 non-profit agencies who received grant funding. The grant will help projects focused on recovery from pandemic and mental health programming.
“The services provided by these agencies, educators and hospitals as well as many other in our market are all important to the quality of life in our communities and the health and well-being of our parishes’ populations,” said Alice M. Prophit, Living Well Foundation president.
A total of $274,000 was awarded to the agencies which included American Red Cross North Louisiana Chapter for a mobile emergency van dedicated to northeast Louisiana, Ascent Health for school support, Boys and Girls Club of North Louisiana and Broaden Horizons for children programming, Center for Children and Families for telehealth counseling services, Children’s Coalition for Dia de la Familia events, CommuniHealth Services for a virtual care nurse specialist, Rays of Sonshine for personnel support, ULM College of Pharmacy for training of pharmacists for specialty testing and services within local communities, and Union General Hospital for expansion of mental health support space.
The Living Well Foundation was created in 2006 upon the sale of Glenwood Regional Medical Center and is administered as a public charity. Grants and initiatives are funded within an 8-parish service area, including Franklin, Caldwell, Jackson, Lincoln, Morehouse, Ouachita, Richland, and Union parishes