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Greenwood Leflore Hospital posts February loss of $486,957

Tuesday, March 26, 2024, 7:45 pm News Flash Archive

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

According to the financial report given by Mrs. Dawne Holmes, the Hospital had an overall loss of $486,957 in February.

At the end of February, the useable cash and equivalents were $4.92 million, down from $7.21 million last month. Mrs. Holmes explained that February had three payrolls instead of two, which helps explain the large cash burn for the month.

As of the end of February, the hospital still owes Medicare $4.11 million. The Medicare loan is being paid down at around $102,000 per month.

The board voted to hire Harper, Rains & Knight to audit the hospital pension fund for 2023. The report will be due in the upcoming July. The cost for the audit will be capped at $11,500.

The board voted to continue using Guidehouse for procedure coding logic and training, which determines the reimbursement for procedures done in the hospital and clinics.

The board voted to extend for one year the lease that the private urologists are paying for use of medical clinic space in the orthopedics office building behind the hospital. The urologists have office hours one day a week.

The board voted to renew and/or refinance three radiology devices from Canon Medical Systems. The Vascular Intervention Suite will become operational in seven months. The fluoroscopy suite has been down for four months, but will come back on line in two months. The MRI device buy out was extended for another 60 months. The three devices will cost around $800,000 per year (lease and service/support) over the next five years.

The board then went into executive session, with the public and the press excluded for 29 minutes.

In executive session, the board approved a Tele-ICU grant and education training agreement, and a Nurse Practitioner supervision agreement for the cardiology clinic.

The Board of Trustees meeting may be viewed here: GLH Board Meeting, March 26, 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

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