The Newman Regional Health Board of trustees held their monthly meeting Wednesday afternoon.
The presentation of the monthly financial report for the showed the hospital’s inpatient and other patient revenue were both under budget — inpatient by 16 percent and other patient by 4 percent. The hospital saw a net profit of $57,209 for August, a favorable variance according to the report.
However, at this time the hospital’s current year to date net loss is just over $1.7 million. Hospital CEO Bob Wright says this has been an unusual year for the hospital leading to a decrease in volume.
Wright says at this time they will have to “weather the storm,” however, there are plans to be more “frugal” and also look into temporarily halting expenditures which are “not immediately necessary.”
Wright adds he has already begun to see an uptick in patient volume through the month of September, which makes him optimistic the hospital will recover from the recent decrease in numbers.
In addition to the report, the board voted unanimously to move forward with the purchase of new anaesthesia machines. The new machines were the main focus of this year’s Denim and Diamonds fundraiser and Wright says the annual event generated $102,000 in funds surpassing the hospital’s original expectations of $75,000.
In addition, the hospital received a $200,000 allocation from the Lyon County Commission this year for the purchase of the machines which has provided the hospital with $100,000 more than the cost of the five new machines. Wright says following the purchase of the machines the hospital will look to use the remaining funds to aid in the facility’s phone turnaround project, with county commission approval.
Wright will be making a proposal on this topic to the commission in the coming weeks.
The Board of Trustees will hold their next meeting Wednesday, Oct. 30 at noon.
