Back Print

Next year's Winneshiek Medical Center budget calls for just over $65 million in net revenues

Posted: Wed, Mar 7, 2018 7:55 PM

The 2019 fiscal year budget for Winneshiek Medical Center calls for nearly $65.1 million in net revenues for the medical center--a significant increase from this year's projected $61.8 million in net revenues.

Part of the increased revenues in 2018-2019 will come from growth in the use of the medical center's programs, but 60 percent of the increase will come as the result of an average 3.5 percent increase in prices.

The price increase is necessary because the hospital continues to battle two factors that are impacting hospitals everywhere.  The first is the rising cost of pharmaceuticals.  Prescription prices are expected to increase 10 percent next fiscal year, according to WMC's budget.  The second is the increase in contractual adjustments--the discounts that the government and insurance providers expect to get from the listed prices. 47.2 percent of patient revenues are expected to be subjected to adjustments next fiscal year--a record percentage.

"This is why health care is so don't get paid for what it actually costs you to provide a service," said WMC Chief Adminstrative Officer Lisa Radtke.