VMH experiences slight profit for month of May, Board of Trustees holds public hearing to amend budget for Fiscal Year 2024-2025

by Brianne Grimstad

The Veterans Memorial Hospital (VMH) Board of Trustees started off its monthly meeting June 22 with a public hearing on an amended budget for the hospital’s 2024-2025 fiscal year. There were no written or verbal comments offered during the hearing

The reason for the amendment was to add a little more expense to the budget to cover the annual IPERS (Iowa Public Employees’ Retirement System) adjustment. VMH Administrator Michael Coyle explained that there is fluctuation in the market and the hospital wanted to be sure it accounted for any issues on identifying IPERS on its cost report.

The month of May was the third month in a row that VMH had over $5 million in gross revenue, finishing with a Gross Patient Revenue of $5,020,141. Coyle explained that the revenue was driven by inpatient days, surgeries and pharmacy revenues. The Waukon and Postville clinics also continue to grow each month. Coyle also noted that the Postville clinic was recently certified as a Rural Health Clinic, which will lead to opportunities for additional revenue, grant opportunities and other benefits of Rural Health Clinics. The Waukon clinic was already designated as a Rural Health Clinic.

Contractuals for the month of May came in at $2,632,764 and Charity Care/Bad Debt came in at $105,695. Total Operating Revenue for May was $2,645,360, which Coyle said was “favorable to budget” by $155,420. He further noted that May is historically not a strong revenue month for VMH.

To read the full article, pick up the Wednesday, July 9, 2025 print edition of The Standard or subscribe to our e-edition or print edition by clicking here.