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Hospital Board Ok's Bonuses |
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Wednesday, 02 December 2009 |
By LEE COLEMAN
Assistant Editor
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The recent woes of the staggering United States economy has had an impact on many segments of today's society. Although many segments have been hurt, the healthcare industry, including hospitals, has not been spared.
Closer to home, the Memorial Hospital of Texas County (MHTC) in Guymon is trying to hold its own. October numbers presented to the Control Board last week showed a net loss for the month of $49,759 compared to a budgeted income of $29,742. From the end of the fiscal year on June 30, 2009, the net income loss (year-to-date) is $86,653 compared to last year's year-to-date income of $362,208.
Additionally, MHTC reported net patient revenue of $1,662,207 is 15 percent under budget ($296,999). Inpatient, outpatient and home health and hospice revenues are under budget. The result, in part, is total operating expenses of $1,657,655 is $296,352 under budget.
From a pure cash flow standpoint, MHTC reported nearly $1.2 million in cash is on bank deposit as well as about $3 million in certificates of deposits in various banks. According to BKD CPA's and Advisors who conduct audits for the hospital, while the hospital has reported operating losses in each of the last three years, the hospital has been able to produce positive cash flows from operating activities. Cash and deposits increased in 2009 by $1,190,103 or 43 percent.
On a positive note, 120 employees of the hospital are benefactors of the strong cash flow. During last week's board meeting, Mary Beth Ebersole recommended bonuses for these employees that are "designed for employees that cannot affect the revenue streams." The bonuses will be paid from a pool of $76,000 that amounts to an average bonus of $633.
"These bonuses will do wonderful things for our employees." said board chairman John Nye.
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Last Updated ( Tuesday, 08 December 2009 )
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