Revenue at Texas County Memorial Hospital — like health institutions across the country — took a hit as a global pandemic struck in the United States.
Patients delayed procedures and shelter in place orders took effect. Many opted not to use healthcare providers for fear of contracting the illness.
Linda Pamperien, TCMH chief financial officer, presented the financial report for March that reflected reports from across the country: Healthcare has taken a hit.
“Overall revenues were down $469,944 in March from our budgeted expectations,” Pamperien said. “Inpatient volumes were up $264,225 and outpatient revenue was down $817,657 for the month.”
TCMH closed out March with total gross operating revenue of $6,529,733. with net revenues after reductions and contractuals being $2,229,562. TCMH ended the month with a loss of $700,765 and year-to-date with a negative bottom line of $593,795.
Pamperien mentioned that the hospital’s days cash on hand (COH) was 57 at the end of March.
“Despite our decreased volumes, we are holding our own and doing everything we can to run as lean as possible,” Pamperien said.
One bright spot will be help from the federal government as part of the CARES Act. Hospital administrative leaders are looking at all government funding that might be available to help support the hospital during the COVID-19 crisis.
“There is funding specifically available for rural facilities,” Pamperien said. “We have already applied for several programs, and we anticipate that we may see some of those funds this coming week, potentially for the hospital and the clinics, although we don’t know for sure.”
In his administrative report, Murray said Jessica King, MD, new family medicine physician for Mountain Grove and Houston, officially started on April 23.
“We are so pleased to have Dr. King on board with us,” Murray said. “Although this is probably not that best time to try to build a new practice, she has already oriented to the clinic and hospital with Dr. Beers, and she is now ready to begin seeing patients.”
Monday-Wednesday she will be at the Mountain Grove clinic and Thursdays and Fridays in Houston at the Medical Complex.
Murray announced Matthew Brown, MD accepted the physician director position for TCMH Emergency Department effective May 1.
Brown will continue his clinic practice in addition to the new directorship role for the hospital.
Present at the meeting were Murray; Pamperien; Rachel Davis, public relations; Amanda Turpin, quality; Linda Milholen, MD; board members Jim Perry, DO, Omanez Fockler, Allan Branstetter, Jay Loveland and guest, David Taylor, senior manager at BKD, LLP of Springfield, who presented a brief synopsis of the hospital’s audit report.
Taylor reported that many significant changes occurred after Dec. 31, 2019, that will help the year-end net position of the hospital by just over $200,000.
Due to the stay-at-home orders, the entire annual audit process occurred virtually, and final results are pending. The full annual audit presentation is anticipated at the board’s May meeting, which is at noon Tuesday, May 26.