UHD’s income down
Another month has passed and the financial picture doesn’t seem to be getting any better.
That’s the news delivered to United Hospital District board members Tuesday.
For the month of September UHD finished with a total net income of -$257,585.
Chief financial officer Larry Lee says September had “very weak” in-patient numbers.
“It’s less than what he had hoped for,” says Lee.
Board members Larry Anderson and Douglas Johanson wanted to know how UHD will do in the next two months.
“Obviously the board is concerned, but there is a difference between having concern or being panicky,” says Anderson. “Good decisions will need to be made instead of knee-jerk reactions.”
Johanson asked Lee if last month’s figures were better than September.
“October is stronger than September,” says Lee. “Not as strong as we hoped it would be, but it is stronger.”
Overall, patient care revenue has increased.
Year-to-date amounts through September show revenue of $30.9 million, compared to $29.71 million a year ago.
However, expenses have gone up about $2 million, from $17.474 million to $19.436 million.
Total net income currently is -$297,291. Last year through the first nine months it was $916,841.
UHD officials budgeted for a net income of $1.429 million for this year.
In 2010, the district ended the year with an unaudited profit of $783,332. That was down from $941,000 the previous year.
The district is counting on a $250,000 refund from SISU Medical Solutions to improve its financial balance sheet.
“The bottom line for the organization is a $250,000 credit. We anticipate it. I have no reason that isn’t going to happen,” says Jeff Lang, UHD?administrator.
When UHD joined SISU it was a network of 16 medical centers sharing information technology.
The district’s fee to belong to the group has increased from the initial $132,804 due to a decrease in membership.
Lee told the board he believes the district this year will be “very close to breaking even, if not a little above.”
In other business, the board:
• Approved a donation of $500 to Blue Earth Area Mentor’s 8th Annual Tour of Tables fund-raiser scheduled for Nov. 12.
• OK’d giving $2,500 to the 15th Annual KBEW/Darling International You Can Make A Difference Campout to be held Dec. 1-3 in Blue Earth.
Board member and campout founder Norm Hall says funds raised by the event go to help the Faribault County food shelf and a toy drive.
“It”s sad that the food shelf needs to be used that much, but the community should be proud of the support,” he says.
Of the people who rely on the toy drive, he adds, surprisingly there are many elderly.
“A lot of senior citizens on fixed incomes have two, three or four grandchildren,” he says. “Their budget can’t be stretched that much.“
• Heard a report regarding patient safety.
Chief nursing officer Cande Arends says UHD nurses check patients frequently to make sure they are comfortable.
“It’s not just nursing staff that takes care of our patients,” she says. “We all, even housekeeping, take care of our patients.”