Hospital expenses see big drop
A financial statement released by Adams Memorial Hospital Chief Financial Officer Dane Wheeler at a recent meeting of the Adams Health Network Board of Trustees noted that the organization has had nearly $300,000 fewer expenses this year than at a same point in 2011 and thus has a positive balance of $266,428.
Total operating revenue (after contractual discounts and bad debt) for the first three months was said to be $10,354,426, with expenses of $10,321,095. An additional non-operating revenue of $233,097 gives the hospital the larger amount of money.
Wheeler said the financial picture at the hospital is solid compared to a lot of hospitals throughout the country. He said the local facility has 115 days cash on hand (meaning the hospital could operate for nearly four months without any revenue coming in) as compared to an average 61 days for United States hospitals and 64 days for Indiana facilities.
Statistics provided by President and Chief Executive Officer Tom Nordwick for March (compared to March of 2011) showed a decrease of 33 inpatients, 11 extended care patients, 9 babies, and 113 outpatient registrations.
Last month saw 172 admissions to the hospital, 992 emergency room visits, nine babies born, and 21 patients admitted to Woodcrest (an increase of 16 from a similar period last year), and 121 surgeries (down from the 145 total in March, 2011). Outpatient registrations were 5,909 in 2011 and 5,796 in 2012 for the month of March.