Tuesday, October 15, 2024, 7:59 pm
News Flash Archive
Today, the Greenwood Leflore Hospital Board of Trustees held its regular monthly meeting.
The board approved an extension to the UMMC telehealth contract, which is helping the hospital prepare to reopen and staff a four bed ICU sometime in the future.
According to the financial report reviewed by CFO Dawne Holmes, the Hospital had an overall loss of $401,000 in September.
For the fiscal year which ended September 30, 2024, the operating loss was $2.905 million, while the overall profit was $1.121 million. That gap was due to receipt of one-time money consisting of $1 million from the state legislature's "Hospital Sustainability Fund," and a $3 million draw from Leflore County's $10 million line of credit obtained to support hospital operations until its critical access application to CMS is either accepted or rejected.
These fiscal year numbers won't be finalized until the official audit is finished sometime early next year.
At the end of September, the useable cash and equivalents were $3.9 million.
As of the end of September, the hospital still owes Medicare $2.447 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 27 minutes.
While in executive session, the board approved a physician contract, but the physician was not identified to the public.
The Hospital Board of Trustees meeting may be viewed here: GLH Board Meeting, October 15, 2024
At Monday's Leflore County Board of Supervisor meeting, GLH CFO Dawne Holmes and Interim CEO Gary Marchand made a presentation to the supervisors. It may be viewed here: Leflore County Supervisor Meeting, October 14, 2024
The hospital discussion begins at the 7:20 time mark.
Mrs. Holmes explained the upcoming fiscal year projected budget that the Supervisors must approve. She explained various sources of projected additional revenue in the upcoming year. The budget also includes a projected reduction in the MHAP revenue, which is determined by the state, as well as a projected increase in the low volume Medicare revenue program. She also described anticipated new revenue from the pharmacy 340B program.
Expense increases in ICU staffing costs and supplies are also included, as well as employee raises.
The net loss for the projected 2025 budget is $2.2 million, with an operating positive cash flow of $4.5 million, which excludes depreciation costs.
Mr. Marchand described a general surgeon recruit that GLH is seeking to employ by December this year.
GLH is presently providing some ICU services in the normal bed unit. The ICU unit itself has not been reopened at this time. GLH is still looking for qualified nursing staff for the ICU reopening. Right now, GLH is providing these services to three or four patients a month. Mr. Marchand sketched out some of the processes being used to bring the ICU back on-line.
Marchand said GLH cannot reopen labor and delivery services, because there is nobody to pay for it or bear the cost for it. The insurance companies won't provide adequate pay to sustain those services.
Marchand stated that he checks on the status of the critical access application every month, but no final decision has been made by CMS in Washington, DC. They are thinking that perhaps the new congress can help usher in approval for GLH critical access status. Critical Access status will provide enhanced Medicare payments for services provided by GLH, in exchange for certain restrictions on in-patient care.
Marchand stated that he does not believe the Ruleville satellite clinic on Park Avenue will hurt GLH's customer base or revenue.
To review our reporting on GLH and its financial woes, please see here: Index of Greenwood Leflore Hospital news articles
John Pittman Hey
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