Back Print

Winneshiek Medical Center's financial picture continues to improve

Posted: Wed, Feb 6, 2019 6:23 PM

Winneshiek Medical Center is halfway through its fiscal year and its financial picture, in the words of WMC Board Chair Rick Burras, "is not great, but it's much better than last year."

WMC Chief Financial Officer Lynn Luloff, who presented the December financial reports to Burras and the other board members Wednesday night, agreed, saying the medical center is in "a significantly better" financial position than in 2017-2018.

In December, the medical center showed $9.5 million to total patient revenues, slightly under budget, but because of lower expenses, WMC ended the month with a $76,126 operating gain.  For the past six months, when adding non operating revenues, WMC has a net surplus of $225,684.

Hospital officials are still concerned about a decline in inpatient revenues, but it's a problem most Iowa hospitals are facing.

The WMC Board is in the process of putting together a budget for its next fiscal year.  A public hearing on the new budget will be held at 4:30 p.m. Tuesday, March 5th, at the hospital.