5:00 pm
Fair, 57°
     News Flash    Monday, December 11, 2023
News Flash Subscribe to News Flash Emails
GLH posts year-end loss of $7.87 million

Tuesday, October 15, 2019, 2:11 pm News Flash Archive

The Greenwood Leflore Hospital Board of Trustees held its regular monthly meeting at lunch-time Tuesday, October 15, 2019.

The Board welcomed its new interim CEO Gary Marchand.

According to the finance report, the Hospital closed out its fiscal year September 30, 2019 with a net loss of $7.87 million. This was slightly better than the 2018 loss of $8.87 million.

That puts the 4 year total losses for the hospital at around $45 million.

Although the cash balance increased by $766,054 in September, the end of year cash balance was $24.3 million, down $1.5 million from the start of the fiscal year.

Net patient revenue declined by $3.5 million in the fiscal year, down to $107.86 million. Expenses were trimmed by $4.3 million to $117.76 million for the year.

The Board went into executive session and excluded the public and media for 54 minutes.

The Hospital Board meeting may be seen here:
GLH Hospital Board Meeting, October 15, 2019

John Pittman Hey
The Taxpayers Channel

News Flash Archive