Veterans Memorial Hospital experiences positive financial month during February

by Brianne Eilers

The month of February ended up being a positive month for Veterans Memorial Hospital (VMH) in Waukon. For the month, the hospital had a profit of $50,082, which translates to a 3.9% profit margin for the month. Acute patient days were at 140, compared to 107 last February. Skilled patient days were at 104, more than double last February’s total of 48. Deliveries were also up over last February with ten this February and seven last February.
“We’re having a pretty good year,” noted VMH Administrator Mike Myers. Year-to-date, acute patient days are down 2.6%, however, skilled patient days are up 33.9%. Myers noted that with the skilled days, VMH is not necessarily seeing more patients, but that they are staying longer. Deliveries are also up, year-to-date, 26.1%. Outpatient areas are also up, year-to-date. Sleep studies have seen a 136% increase, and outpatient radiology is up 12.4%. Outpatient physical therapy is up 65.4%, and emergency room visits are also up 10.8%.
Other areas that are experiencing an increase in volume include mammography, bone density, and MRIs. “What’s interesting is the trend over the last ten years for critical access and rural hospitals has been to see a decline. For example, in that time period, the rural hospitals’ OB has decreased 9%, while our’s (VMH) has increased 10% in that time period,” Myers explained.
He also noted that the year-to-date profit margin of 2.7% during the month of February 2012 is above the budgeted 2% profit margin. Cash reserves are at $2.3 million, and it was noted that $1 million was spent on capital budget items in the last 12 months. March is looking to be a strong month as well.

Myers also discussed the hospital's strategic plan, explaining the five “pillars” that support the organization: quality, service, people, community health and financial and organizational viability. Committees meet to focus on these five areas, and the committees are comprised of representatives of all hospital staff and employees.
Each of the pillars has a strategic aim. The goal of quality is exceptional outcomes; service is “WOW” patient and family experiences; people, to be the employer of choice; community health, to be a leading partner in promoting a healthy community; and financial and organizational viability is to optimize market share and financial performance. Each pillar has certain areas that are monitored, and that includes department specific areas, and they look at the goals that departments can set to make sure patients and their families receive the best care possible and feel confident about the service they receive.

Myers also touched on open forums that were given in March regarding budget assumptions, Press Ganey Scores and the strategic plan. The emergency room overall assessment at VMH is still ranking above the 95th percentile in Press Ganey scores. Satisfaction with the nurses is in the 97th percentile, and physicians are in the 96th percentile in the emergency room. Myers also explained that VMH is trying to enhance the discharge process. Some of the ways they are doing that is to have a bedside report where the night nurse and day nurse talk in the room with the patient, and the nurse supervisors are also making rounds on patients.
On the physician recruitment front, the Mayo clinic in Waukon will have Dr. Benjamin Ross starting in September. The Gundersen-Lutheran clinic continues to recruit as well.