Newman Regional Health is still posting a financial loss for July, but Chief Executive Officer Bob Wright says the scope of the losses is coming down over time.
Wright spoke with KVOE News following Wednesday’s Board of Trustees meeting. The monthly net loss was about $133,000, putting the year-to-date net loss at about $1.8 million. However, Wright says strategic initiatives that began last year are starting to take hold.
Revenues were under budget — inpatient by 15 percent, outpatient by 7.5 percent and other patient by 12 percent. Expenses were under budget by 1.6 percent. Cash on hand increased by nearly four days to 22.5.
Separately, the Board of Trustees fielded a construction update on the sterile compounding addition as part of renovations to the pharmacy. Wright says walls have been erected and work is underway on the heating, ventilation and air conditioning system, and he anticipates renovations will be ready by mid-January.
Wright also says discussions continue for strategic planning. Planning committee members are looking at upcoming projects as well as potential changes in medical policy from Washington, D.C., and how those could impact hospital operations.
