The former Flint Hills Community Health Center may have a new name and brand, however, it’s better than year-long string of financial gains has not seen any change according to the latest financial update during the CareArc Board of Directors monthly meeting Tuesday.
The finance committee report for the month of March, presented Tuesday, showed a net gain for the agency of $201,000. This brings CareArc’s net gain for the year to $268,000.
Revenues for the month were $995,000 which was $165,000 above original expectations. For the first quarter of the fiscal year, CareArc’s expenses were 2.19 percent under budget.
The board also received a financial impact report from the agency’s 340B program for 2021. 340B allows CareArc patients to receive pharmaceuticals and prescriptions from contracted pharmacies at a significant discount.
According to the report, the program contributed $144,530 in fourth quarter savings for CareArc patients and a total of $344,906 in savings for the year 2021. Those savings are reinvested into programming to assist CareArc patients on an annual basis.
Also Tuesday, the board received updates on IT matters and dental and medical clinic projects.
The CareArc board will next convene on Tuesday, May 24 at noon via Zoom.
