When a business has total operating revenue of $20,409,965 for the first six months of the year, a figure of $18,127 seems like small potatoes.
But, for Adams Memorial Hospital, that small number was how much the facility was in the black for the month of June — and for the year the hospital has taken in $147,235 more than what has been spent for expenses.
Chief Financial Officer Dane Wheeler noted, "It wasn't a lot, but we were in the black. I'll take that any day as opposed to being in the red."
Even better for the hospital was that budgetary projections last year when the budget was adopted had called for a first six-month deficit of $492,540. Wheeler pointed out expenses for the first six months at the hospital were budgeted at $22,045,590 but came in at $20,935,090. That was a huge key as budgeted operating revenue for the January-June span of 2012 was $1,741,144 more than has been realized.
The financial sheet shows a deficit of $525,125 comparing expenses to income, but non-operating revenues for the hospital has come to $672,360, thus wiping out any deficit.
Wheeler reported to hospital trustees at their monthly board meeting Wednesday night that the hospital has taken a slight hit in a category known as "days cash on hand" (the number of days a facility could operate without any additional revenue) falling to 113 from a figure of 140 at the end of June of 2011. However, the state of Indiana average for hospitals this year is 64 days and nationally it is 61 days.
Outpatient revenue again accounts for the lion's share of hospital money bringing in 70.49 percent while in-patients are listed at 29.51 percent. Overall this year, 54 percent of the hospital's income is tied to Medicare patients, which represents a two percent hike from 2011. The average in-patient census at AMH this year has been 19.17 patients per day.
Year-to-date stats show there have been 36,067 out-patient registrations (lab, x-ray, therapy, etc.), which is an increase of 937, 5,684 visits to the emergency room (a hike of 103), 1,103 patients admitted (13 fewer than 2011), 103 babies born (seven less), and 802 surgeries (67 fewer).
Chief Executive Officer and President Tom Nordwick noted that the surgery figure may rapidly change, however, with the addition of general surgeon Dr. Anthony Nigliazzo, who opened his surgical practice last week. Dr. Nigliazzo already has had several days in his office with a completely full schedule and has been busy in surgery as well.
Nordwick later said it is planned to have an educational session for the medical staff at AMH about the procedures Dr. Nigliazzo performs and Nordwick feels that will perhaps eliminate the need to send some patients to other facilities since the new doctor will be able to perform them here.