New fiscal year off to a positive start for VMH

by Brianne Eilers

The Veterans Memorial Hospital (VMH) Board of Trustees met for its regular monthly meeting Tuesday, August 24. VMH has started out the new fiscal year on a positive note, with a net income of $47,013, which translates to a 4.1% profit margin.
VMH Administrator Mike Myers noted that comparing numbers to last year, the inpatient days were down “significantly” (20.1% for acute patient days and 45.5% for skilled patient days) and surgeries were also down. “But, we had a record month for outpatient,” Myers said. Outpatient lab was up 32.7%, while outpatient physical therapy was up 87%. Cardiac rehab was also up from last year, 56.3%. Emergency room visits were up 22.4% from last year, as well. “That record outpatient revenue is what really saved us,” Myers explained, adding that they were almost $200,000 over budget from where they had expected to be. In other financial matters, the hospital has $1.7 million in cash reserves. Days of revenue in accounts receivable is at 75.
In other matters, VMH was able to make some changes in its health insurance plan, resulting in taking a 30% increase down to just seven percent, and that will continue to be monitored. The work agreement for the operating room remodeling project has been signed. The project involves replacing some flooring and repainting the walls. The hospital is also continuing to look at doing some remodeling in the OB area.
VMH had some very positive Press Gainey scores in July. Myers noted that they exceeded their targets in the category of “Likelihood to Recommend”, which he said is usually a month when scores tend to be lower.
A total of $3,800 was donated to VMH to be used in the care of cancer patients. The money came from a group of golfers led by Barb Hanson. The hospital is very appreciative of the group’s generosity.
VMH will also be a part of the countywide disaster drill, which will happen September 1. The drill will give VMH a chance to practice and plan disaster response. Myers noted it has been about three years since the last countywide disaster drill.
The bulk of the board meeting was spent on the results from the audit that was finished up in August. Dave Schueller, a representative of the accounting firm, addressed the Board on the report. A summary of the audit report will be included in next month’s VMH board meeting coverage in The Standard.