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Adams Health balance sheet ‘very healthy’

October 3, 2011

    Looking at what he called "a very healthy balance sheet," Adams Health Network (AHN) President and Chief Executive Officer Tom Nordwick told AHN trustees at their monthly meeting last week that the county healthcare organization is financially in solid standing.
    Although both revenues and expenses to date for 2011 are lower than what had been budgeted for, the AHN bottom line continues to be in the black. August totals found a plus balance of $115,369 after expenses of $3,941,304 vs. revenues (including interest and rental income) of $4,056,672.
    Year-to-date, AHN is actually $229,662 to the good. Rental and interest income of $868,845 helped overcome a deficit of $639,184 (expenses of $33,478,831 to operating revenue of $32,839,647).
    "Compared to many other hospitals in Indiana, we are in very good shape financially," affirmed Nordwick.
    Nordwick also provide trustees with breakdown reports from different departments.
    Noted for August were the following numbers: 177 in-patient hospital admissions, 31 admissions to the Extended Care Unit, 5 new residents at the Village of Heritage and 6 at the Woodcrest Nursing Center, 440 patient days generated at the hospital, 11 babies born, 204 surgeries performed, 904 people visited the emergency room, and a total of 5,808 outpatient patients were registered, the latter a gain of 580 from August of 2010.
    Year-to-date, 57,701 out-patients have sought treatment at the hospital, a gain of 1,868 from 2010. This includes patients in the therapy departments, lab, x-ray, emergency room, respiratory/EKG and others who were not admitted for treatment to the hospital.
    Occupancy rates at the two nursing homes owned by the hospital remain high, and Nordwick noted that the garden apartments at Woodcrest are completely filled (48) while 35 of the 42 villas are occupied, as well as 33 of the 34 units at Evergreen Court Assisted Living.

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