Though the Board would prefer to see the hospital operating in the black, not red, the five-figure year-to-date loss is a dramatic improvement over last year, when the hospital was reporting a year-to-date loss of $854,650.
“It’s been a pretty remarkable turnaround,” said Hospital Administrator Lisa Coleman. “We’ve made some definite improvements.”
Many of the improvements have come at the behest of Quorum Health Resources, which has been overseeing the hospital’s finances since May 2005.
Among other things, QHR has modified the hospital’s transitional-care program, modified purchasing contracts and acquired increased Medicare and Medicaid payments to increase the hospital’s revenue.
Higher patient volume is also increasing the hospital’s revenue, Coleman said. These increases have been seen in emergency room visits and in the number of patients involved in physical therapy.
The hospital has also been doing more procedures like endoscopies and cataract surgeries, she said.
With a number of surgeons already on board, Coleman sad she sees opportunity for more growth in that department.
“We can certainly do a lot more procedures here than we’re currently doing,” she said.
Coleman said the hospital is looking to expand into more procedures that can safely be done on an outpatient basis, such as breast biopsies, hernia repairs and gall bladder procedures.
“That’s (more services) the name of the game,” she said.
Do to its proximity to large hospitals in Evansville and Nashville, Trigg County Hospital has a relatively low market share. The offering of new procedures should improve that share, Coleman said.
“Why would you choose to go any place else,” Coleman said, if needed services could be provided locally “by people who care about you.”
“It becomes that neighbor caring for neighbor concept,” she said.
QHR has set a goal of breaking even — before depreciation and taxes — by the end of this fiscal year, ending in April.
“Hopefully we’ll exceed that,” Coleman said. The hospital last reported a profit for the fiscal year that ended in April 2003.
For the rest of this article, please see this week's edition of The Cadiz Record.