Massena Memorial Hospital turns profit in July By BOB BECKSTEAD TUESDAY, AUGUST 27, 2013 ARTICLE OPTIONS AA MASSENA - Thanks in part to health insurance premium and stop loss payments, Massena Memorial Hospital posted a positive financial gain in July, according to Mike Tortoriello, MMH’s director of accounting and finance. Mr. Tortoriello, who had served as acting chief financial officer until the recent hiring of Jim Smith, said they posted a gain of $74,257 in July compared to a July 2012 gain of $38,553, an increase of 92.61 percent. The hospital had budgeted 218 inpatient discharges in July, and ended the month with 227. They had 225 inpatient discharges in July 2012. Total outpatient registrations for July were 10,774, up 1.01 percent from the 10,666 that had been budgeted and up by 4.5 percent from the 10,310 they had in July 2012. Among the outpatient registrations that came in higher than budgeted were the renal dialysis center (626 registrations versus the budgeted 573), hospital-based clinics (2,099 registrations versus the budgeted 1,863) and other outpatient visits (5,224 registrations versus the budgeted 5,075). They were, however, lower than budgeted on observation visits. Officials budgeted 57 observation visits for July and ended the month with 49. They had 55 during July 2012. Net patient revenue for July was also lower than budgeted at $3,719,204. They had budgeted $3,953,381. Their numbers, however, were higher than July 2012 when they recorded $3,470,849 in net patient revenue. Other operating revenue was higher than budgeted ($250,835 of revenue versus the budgeted $235,143). To date, the hospital remains $1.92 million in the red. They were $1.6 million in the red during the same time period last year. Their numbers are up in many cases from June when they had a net loss of $495,124 for the month and just over $2 million for the year. Officials had budgeted 217 total inpatient discharges for June and they ended the month with 203, compared to 215 in June 2012, a drop of 5.58 percent. They had also budgeted 11,491 total outpatient registrations for June, but fell short at 10,205. That compared with 10,475 in June 2012, a decline of 2.58 percent between 2012 and 2013. Net patient revenue was budgeted for $4.2 million in June, but fell short at $3.6 million, or 13.84 percent below budget. It was $3.4 million in June 2012. CEO Charles F. Fahd II had said in June that there were a number of reasons for the decline in numbers, including fewer emergency room visits and an inability to schedule patients for one of their newer clinics while they wait for approval from the Department of Health. There has also been a decline in the North Country Veteran’s Clinic because of a lack of providers at the facility, Mr. Fahd said. “The patients are there. We just need providers to see them,” he told hospital board members in June.
Posted on: Tue, 27 Aug 2013 10:33:06 +0000
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