Back Print

Financial picture at Winneshiek Medical Center is improving

Posted: Thu, Feb 8, 2018 9:41 AM

The financial picture for Winneshiek Medical Center this fiscal year is showing improvement.

The December 2017 financial report showed consistent patient revenues and reduced operating expenses.  December's operating gain was $163,758.  With non-operating revenues of $51,666, there was a net gain of $215,424 for December.

Halfway through the 2017-2018 fiscal year, Winneshiek Medical Center's net revenues of $29.7 million are favorable to budget and have increased 3.0 percent over last year at this time.  However, operating expenses year-to-date of $30.6 million represent an increase of 7.5 percent over last year at this time. 

Hospital officials say the biggest problem remains the cost of pharmaceuticals.  An important factor driving this increase is the shortage of some readily used pharmaceuticals, including IV solutions. 

After six months of the fiscal year, Winneshiek Medical Center's Operating Loss is ($846,167).  With non-operating revenues, the Net Loss is ($509,500), which is a Total Margin of  minus 1.7 percent.  Typically, financial results for Winneshiek Medical Center are stronger in the second half of their fiscal years.