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Despite an increase in
inpatient and outpatient volumes
in January, the Bamberg County
Memorial Hospital still shows a
loss for the month. The adjusted
occupied average daily census
was 65 patients compared with 60
patients in December.
Hospital Interim CFO Drew
Wood reported at the board’s
February 17th meeting the
Hospital had a loss of $216,300
for January; for a year-to-date loss
of $1,172,100. The Hospital’s net
monthly revenue was $1,414,000
and its operating expenses were
$1,631,000. For the four months
ending January 31, 2011 the
Hospital’s accumulative net
revenue was $5,227,200 and its
operating expenses were
$6,414,000.
“The Hospital continues to
review all expenditures and has
been working with vendors with
respect to payments," Wood said.
Cash collections for January 2011
were $1,397,000 which exceeded
December’s cash collections,
which represents 9.6 days of cash
on hand. The hospital’s net days
in accounts receivable is 49.5
days.
Also during the meeting; the
Hospital board approved a draft
of a number of policy procedure
recommendations coming from
its Finance Committee, but did
not vote on the items because of
a lack of a quorum.
Procedures approved by
the board under routine orders
included: Orders less than $5,000
can be signed off by the
Pharmacist, Director of
Laboratory and Radiology,
Director of Support Services or
Materials Management
Supervisor. Routine supply orders
greater than $5,000 and less than
$25,000 can be authorized by
Senior Accountant or Director of
Support Services. Routine supply
orders greater than $25,000 must
be authorized by CFO or CEO.
All leases and non-MD
contracts with terms greater than
6 months or anticipated costs up
to but not exceeding $25,000 in
annual costs requires the
Authorization of CFO or CEO.
All leases, services contracts and
MD contracts, clinical services
contracts with terms greater than
$25,000 requires the hospital
attorney’s review and sign-off and Director Support Services or CFO
or CEO and Board of Trustees
Member designee. Check
Register: The Senior Accountant
will maintain a weekly check
register in his office for Finance
Committee to review if needed.
In his Administrator’s
Report; Interim CEO Cliff Bauer
reported that he and UniHealth
Post-Acute Care of Bamberg
CEO Luther Reeves have
meeting on “ways to work
together.” On March 11, the two
facilities will sponsor a joint
picnic for their employees at
11:00 a.m. |
