By the end of the month, Newman Regional Health will likely have its 2026 budget document approved.
The December meeting is traditionally the time when the hospital’s Board of Trustees puts its stamp of approval on the hospital’s financial direction. Chief Executive Officer Cathy Pimple says it’s a process that takes several months to complete.
Pimple says there are potential challenges as well.
November wasn’t kind to the hospital’s current-year budget, with an overall shortfall of over $213,000, unfavorable to budget by better than $725,000. Outpatient revenue was above projections, and there were positive trends with contractual allowances and provider tax revenue, but other categories struggled like inpatient revenue, down 16 percent from budget projections, and operating expenses, missing expectations by nearly 13 percent.
Other patient revenue was almost 4 percent under budget, while other operating revenue was off by 30 percent — primarily due to 340B revenue well under projections. Having said that, Pimple also says the hospital’s overall financial position is stronger than it was at this time last year.
On the flip side, Pimple celebrated the recent three-year re-accreditation through the American Commission for Health Care and the separate re-accreditation of Newman Cardiology Cath Lab through the American College of Cardiology. Pimple says the separate accreditation announcements reflect the overall goal of high-quality patient care, regardless of the department.
