The Newman Regional Health Board of Trustees approved an operating budget for next year that includes a loss, but not to the level of the current year.
Board members approved a 2020 budget that demonstrates a projected loss of $293,000 — a far cry from the current-year budget, which is set to close with a $2.6 million loss. Hospital administrators expect roughly $3.4 million in more revenues next year than this year, and CEO Bob Wright says those revenues could come through several avenues.
The budget also includes capital projects, including the self-hosting of Meditech servers at $900,000 next year and over $1 million for a potential hospice building in 2022.
For November, the net loss was over $426,000, pushing the year-to-date net loss to almost $2.4 million. Inpatient, outpatient and other patient revenues were all short of expectations. Wright says patient volume was low for most of November and Dr. Michael Yost’s orthopedic practice was “wound down” as the hospital prepared to start a partnership with Ortho Kansas.
In separate business, the board formally dissolved the Newman Regional Health Foundation and shifted assets to the Emporia Community Foundation. Wright has said the move will give donors peace of mind because more funds will go to their stated purpose instead of overhead costs.
