Quorum financial analyst Herb Winters said that most of the figures are “in line” with what managers and department heads have been expecting.
Operating expenses were reported at roughly $612,000, down by $43,000 from July 2004. Income was listed at $593,000, down by $56,000 from the same month last year.
“We had a loss of $19,676, but that’s not so bad news,” Winters said.
Inpatient, outpatient and swing bed revenue were by majority Medicare patients. Therefore, Medicare will likely reimburse the hospital for costs they incurred, making the profitability higher.
However, as Sperry Jones claims, the financial productivity in the hospital will increase over coming months as he has weeded out the problems in the billing and coding departments, ensuring the hospital receives every penny it deserves.
Jones is a computer guru and CEO of Quantum Recovery Group, a company focused on improving the financial stability of hospitals. He said there were some errors in reporting, however managed to work the kinks out to ensure effective reporting.
For the rest of this story, please see this week's edition of The Cadiz Record.