Tuesday, September 17, 2024, 6:58 pm News Flash Archive

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

The board elected new officers. Current chairman Harris Powers was reelected as chairman of the board.

According to the financial report reviewed by CFO Dawne Holmes, the Hospital had an overall loss of $799,000 in August. This loss was partly due to having three payrolls fall in August, as well as increased lab costs for COVID testing.

For the first eleven months of the current fiscal year beginning October 2023, the overall profit is $1.522 million. This profit includes the one-time receipt of over $5 million in "catch-up" MHAP enhanced payments for the last half of 2023. Additionally, the county loaned the hospital $3 million, and $1 million was received from another one-time source.

At the end of August, the useable cash and equivalents are just under $3 million.

As of the end of August, the hospital still owes Medicare $2.54 million. The Medicare loan is being paid down at around $102,000 per month.

The hospital is still trying to get CMS to send back the $900,000 it mistakenly applied against the Medicare loan two months ago. This would allow the hospital to show additional income revenue.

The board then went into executive session, with the public and the press excluded for 50 minutes. The board considered a potential litigation matter, but no additional information was provided.

The Board of Trustees meeting may be viewed here: GLH Board Meeting, September 17, 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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