Tuesday, July 16, 2024, 7:31 pm News Flash Archive

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

According to the financial report reviewed by CFO Dawne Holmes, the Hospital had an overall loss of $1.62 million in June.

For the fiscal year beginning with October 2023, the overall profit is $2.76 million, largely due to the one-time receipt of over $5 million in "catch-up" MHAP enhanced payments for the last half of 2023.

The large loss for June was explained as due to a recalculation/adjustment made by Mississippi Medicaid on the MHAP payments to GLH previously made, and a resulting claw-back of $981,000, which Medicaid withheld from the June MHAP payment. This explains just over two thirds of the $1.62 million overall loss for June.

At the end of June, the useable cash and equivalents is $5.1 million, down $389,000 from the previous month.

As of the end of June, the hospital still owes Medicare $3.65 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 48 minutes. During executive session, the board discussed, among other things, pending litigation, but no action was announced regarding that matter.

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

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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

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