The financial picture for the Adams Health Network (AHN) continued in the black for the first half of 2011 with a slight profit shown in June.
Chief Financial Officer Dane Wheeler told the AHN board of trustees at its recent meeting that the hospital showed a $37,235 profit in June, boosting the margin in the black to $341,848 for the first six months of the year. That figure was less than what hospital officials had expected when the 2011 budget was adopted, but still is significantly better than 2010 when AHN was $113,766 in the red for the first six months.
After contractual obligations and discounts were figured in, AHN had net patient revenues of $24,575,942 for the first six months of the year, almost identical to the figure the hospital had budgeted ($24,575,813). The 2011 revenue figure is nearly $700,000 higher that the 2010 amount for a similar period.
Total operating expenses for AHN came to $4,387,649 in June and $25,311,626 for the year-to-date. Although the expenses slightly exceed the operating revenue, interest income of $1,324 and rental income of $139,547 for AHN put the organization in the black.
Wheeler's information to the trustees showed nearly one-third of the expenses in June went for ancillary services: $1,429,351. Bad debt and administrative/general services were next at $643,213 and $628,089.
Other monthly charges for June included employee benefits, $546,936; capital expenses, $426,528: routine services, of $408,224, and other general services,$305,305.
A statistical sheet for AHN delivered by Chief Executive Officer Tom Nordwick showed trustees that while admissions in June were down, in-patient days generated in the hospital are up due to an increasing length of stay. He said that for the year, Medicare admissions are down about one percent while non-Medicare patients are down 16.7 percent.
As a critical access hospital, Adams Memorial must adhere to the rule that the average length of stay per patient cannot exceed 96 hours. While some patients obviously are there longer than four days, the average length of stay in 2011 has been measured at 95.1 hours. The average inpatient daily census is up 2.8 percent for the year going from 16.7 last year to 17.84 this year.
Other statistics showed a slight drop in the number of in-patient and out-patient surgeries for the year. The number of patients visiting the emergency room were down 4.1 percent from June of 2010 but year-to-date are up 1.4 percent.
Nordwick also noted there has been a decrease in the number of emergency room patients admitted to the hospital.
The number of total outpatients seen at the hospital increased 0.3 percent in June and year-to-date are up 2.8 percent.
A report on the networks' nursing homes, assisted living, and independent living units showed a 100 percent occupancy at the Village of Heritage nursing home in Monroeville (61 of 61 units) and in the Woodcrest Garden Apartments (48 of 48).
Thirty-two of the 34 units at the Evergreen Court Assisted Living Complex are occupied, 35 of the 42 Woodcrest villas are filled, and the Woodcrest Nursing Home had 113 of 120 beds spoken for.