Back Print

January financial results at Winneshiek Medical Center are called "encouraging"

Posted: Thu, Mar 5, 2020 9:23 AM

Record gross patient revenues for January are being announced by Winneshiek Medical Center officials. But they say they're most encouraged by a decrease in operating expenses from December.

As a result, January's total patient revenues of $11,893,148 resulted in an operating gain of $367,873. After adding in non-operating revenues and imposing the required Governmental Accounting Standards Board deduction, WMC had a net gain for January of $308,718.

WMC Chief Financial Officer Lynn Luloff says the January results are "an encouraging report." She especially notes the significantly slower increase in the cost of prescriptions and other pharmaceuticals.

After seven months, the medical center is showing a net gain of $635,381, although when the GASB expenses are factored in, there is a net loss of $484,619.