Winneshiek Medical Center's financial situation is rebounding
Posted: Wed, Jan 2, 2019 6:16 PM
Winneshiek Medical Center is showing continued financial improvement this fiscal year.
The medical center had a November operating gain of $291,766, which, along with $51,754 in non-operating revenues, produced a net gain of $343,520 for the month.
After five months, the medical center is now reporting a positive net gain. Winneshiek Medical Center Chief Financial Officer Lynn Luloff noted that, "Last year at this time, we were at a 1-million dollar loss." WMC went on to report a $2.7 million loss for the fiscal year. (http://www.decorahnews.com/archived-stories/2018/09/20209.html).
Winneshiek Medical Center has instituted a number of procedures in response to last year's deficit. Net revenues have now increased 4.7 percent compared to the same time period in the last fiscal year. Skilled care revenues and outpatient revenues have led the rebound.