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February's financial performance at Winneshiek Medical Center was weaker than budgeted

Posted: Fri, Apr 7, 2017 12:40 PM

Winneshiek Medical Center says it had total patient revenue of $8.5 million in February--lower than budgeted and lower than January's revenues. 

Contractual adjustments, charity care and bad debt were lower than projected, meaning Total Net Operating Revenues for February were $5.0 million, which was above budget and better than January.  That was offset by Total Operating Expenses of $4.9 million, which were unfavorable to budget for the month.

Operating expenses have increased 5.7 percent this fiscal year at the medical center, while net revenues have increased 2.1 percent.

Winneshiek Medical Center did manage an Operating Gain of $153,779 for February, which, when added to non-operating revenues of $59,428, produced a Net Gain of $213,207.  Year-to-date the Net Gain, which includes non-operating revenues of $643,153, is $1,554,571.