St. Luke Hospital: Positive revenue doesn't always mean a profit
Despite an exceptional month with a healthy revenue stream, Marion County Hospital District #1 still has a budget short-fall.
Chief financial officer Hilary Dolbee explained to the board of directors that actual revenue was difficult to predict and budget entries are only estimates because there's a certain percentage of private paying patients who will not pay 100 percent of the bill, meaning the hospital will write-off that portion.
Revenue numbers indicated that inpatient revenues were up 97 percent from February. Outpatient numbers were down but revenue was slightly up.
St. Luke Living Center continues to run at 100 percent. Home health care also was slightly lower than the previous month but was above budget.
The net income for March was a negative $45,297, leaving the year-to-date revenue at $82,881 in the red.
The revenue numbers still were higher than the previous year with each year as an independent hospital becoming more solvent.
In other business:
— A 20-minute executive session was requested to discuss acquisition of property with the board, Armstrong, and the hospital's administrative council. The meeting reconvened with no decisions.
The next meeting is at 7 p.m. May 20 which will be the election of three board members followed by the monthly meeting.