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Winneshiek Medical Center is reporting an improved financial picture in March

Posted: Thu, May 3, 2018 10:48 AM

Hospital officials say revenues improved in March, meaning Winneshiek Medical Center recorded an operating gain of $29,233. With non-operating revenues added in, the hospital showed a net gain of $85,180 for March.

Year-to-date after three quarters of the fiscal year, Winneshiek Medical Center's net revenues of $45.4 million are unfavorable to budget by $214,638, while operating expenses year-to-date are $46.6 million, an increase of 6.6 percent over last year at this time. The largest negative variance for the month and year remains the cost of pharmaceuticals.

That means Winneshiek Medical Center is showing an operating loss of $1,203,654 and a net loss of $701,539.