Bamberg County Hospital records over $1 million loss

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.