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NRH has painful monthly financial report

With a decision on Critical Access status pending, Newman Regional Health continues to scuffle financially.

Chief Financial Officer Holly French said the hospital had a net loss of over $983,000 just for November, largely due to high numbers of bad debt and a lower average daily census than expected.

This pushes the year-to-date net loss to almost $2.62 million.

Hospital administrators are counting on the federal government granting a Critical Access designation because the cost-based reimbursement method would lead to millions of dollars in new revenue. French says Newman Regional Health could be standing with over $1 million worth of income this year instead of the massive losses had the hospital gained the Critical Access designation this year. French says the hospital could have had over $4 million of net income last year with Critical Access status instead of a net loss.

The hospital has not said when it may learn whether the federal government has approved its request. It also has not said when it will announce a new CEO. Hospital board members interviewed one candidate earlier this week and another last week.

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