Tuesday, April 16, 2024, 7:03 pm News Flash Archive

Today, the Greenwood Leflore Hospital Board of Trustees held its regular monthly meeting.

According to the financial report reviewed by Interim CEO Gary Marchand, the Hospital had an overall loss of $782,000 in March.

Mr. Marchand opined that the hospital had posted an additional $251,000 in employee health and welfare expenses for March. The month's depreciation and amortization expenses were $576,000. Factoring out those two amounts, Marchand stated the hospital basically broke even in March from a cash flow perspective.

At the end of March, the useable cash and equivalents were $4.76 million, down from $4.92 million last month.

As of the end of March, the hospital still owes Medicare $4.02 million. The Medicare loan is being paid down at around $102,000 per month.

The board then went into executive session, with the public and the press excluded for 25 minutes.

There is still no word from CMS whether the hospital will be granted critical access status, which would boast the amount Medicare would pay for services rendered by the hospital.

The Board of Trustees meeting may be viewed here: GLH Board Meeting, April 16, 2024

---

To review our reporting on GLH and its financial woes, please see here: Index of Greenwood Leflore Hospital news articles

John Pittman Hey
The Taxpayers Channel

News Flash Archive