Newman Regional Health Chief Executive Officer Cathy Pimple says the hospital expects increased patient traffic trends to continue next year — which is why the 2025 budget is better than $7 million larger than the current-year budget.
The hospital is expecting over $96 million in revenues for next year. For most of the year, Pimple has been saying the hospital is in the best financial position it has seen in over a decade. She credits much of the increase in patient volume to what she calls two years of “strong strategic work” on employee recruitment and retention.
Saying volume matters in rural healthcare settings, Pimple says the 2025 budget reflects anticipated increases in several areas:
*Increases in acute admissions for orthopedic surgery
*Increases in surgical and cath lab volumes due to new staffing additions
*Increases in ancillary testing like MRIs, X-rays and ultrasound procedures
*Increases in patient volume at Newman Regional Health Medical Partners Orthopedics, Primary Care, Obstetrics & Gynecology
Decreases are expected in other areas:
*Cardiovascular lab closure
*Newman Regional Health Medical Partners Cardiology
Besides expecting more patients next year, Pimple says hospital leadership will look at new ways to serve its catchment area.
Monthly financial trends have been solid for most of the year, and that included some of the numbers in November’s report. Outpatient and other patient revenue were off, but inpatient revenue was almost $2.3 million, or above budget by 6.5 percent. Net income was almost $1.2 million for November, favorable to both budget and November 2023 by over $800,000. Year-to-date net income was over $2.12 million, favorable to budget by over $1.4 million and favorable to last year by over $2.14 million.
