Thursday, AUGUST 14, 2025 |
Photo – MHCC – Bigfoot99 file photo
Memorial Hospital of Carbon County administrators presented a positive financial report for the cash-strapped facility.
During the August 12th Board of Carbon County Commissioners meeting, Memorial Hospital Chief Executive Officer Kerry Ashment delivered his monthly update on the medical facility’s finances. CEO Ashment said he was pleased to report that the hospital can now cover employee payroll without borrowing funds.
The Rawlins hospital has faced financial struggles for years, driven by rising medical costs and declining federal reimbursements. In February of this year, Memorial Hospital Interim Chief Financial Officer Will Grant reported that the medical facility generated approximately $4.4 million less than the previous fiscal year.
Speaking to the Board of Carbon County Commissioners, CEO Ashment said he chose not to borrow money to avoid additional interest payments. Additionally, lenders were unlikely to offer Memorial Hospital loans due to its precarious financial situation. Ashment said the facility is now in a position to decline any future loan offers.
Next, Memorial Hospital Chief Financial Officer Joy Coulston reported that the medical facility generated $50,331 in net income during the month of June. However, as of the latest financial report, Coulston said the hospital has lost nearly $7 million. The Chief Financial Officer said she believes the large shortfall is due to changes to the contractual rate, or how much the hospital expects to receive from insurance companies based on existing agreements.
CFO Coulston agreed that the contractual rate should be adjusted. Coulston said Memorial Hospital should focus on negotiating lower rates, which could lead to more favorable terms with insurers, faster reimbursements, and fewer claim denials.
Chief Financial Officer Coulston said hospital staff hold weekly meetings to review insurance claim denials. Afterwards, staff will contact patients to correct errors and help ensure prompt payment.
Coulston said she believes reducing claim denials is the most effective way to increase revenue. Additionally, CEO Kerry Ashment is working to increase the number of patients undergoing procedures at Memorial Hospital of Carbon County. More patients mean more money for the medical facility.
Coulston said Memorial Hospital must balance growth while controlling expenses.
The Chief Financial Officer said the medical facility is preparing a cost report to recuperate revenue lost from treating Medicare patients. Coulston said a critical access hospital, such as Memorial Hospital of Carbon County, must submit accurate and timely cost reports in order to stay in business.
CEO Kerry Ashment said he promised to be transparent about what’s happening at Memorial Hospital of Carbon County, and that his monthly reports fulfill that promise.
