July 31, 2024 |
Photo – MHCC – Bigfoot99 file photo
Memorial Hospital of Carbon County’s interim CFO updated Carbon County commissioners on the medical facility’s financial health. At the July 15th board meeting, the hospital’s interim Chief Financial Officer, Chelle Keplinger, reported the that revenues at the facility are falling short of forecasts. Keplinger said in May, the facility failed to meet its expected revenue forecast. The interim CFO also said the hospital has made $1.7 million less in pre-tax revenue than this time last year.
Keplinger said Memorial Hospital had nearly $180,000 less bad debt this May compared to last year. However, overall bad debt has increased by 44% since 2023.
It wasn’t all bad news from the interim CFO. While expenses increased a little in May, Keplinger said overall expenditures decreased by over $6 million compared to last year.
Keplinger had more bad financial news for the commissioners. The acting CFO said the medical facility lost $2.1 million in revenue compared to 2023.
Keplinger said expensive out-of-town doctors and nurses are eating up the hospital’s financial resources. The hospital is caught in a vicious cycle. It must perform more in-house surgeries and do a better job of collecting unpaid medical bills, the acting CFO said.
To turn things around, Keplinger said the board of trustees has brought in a new business office director to oversee the administrative and financial operations of the hospital. On top of that, Keplinger said she will review past payment denials in hopes of finding additional revenue.
Keplinger also said she will work with the hospital’s electronic billing system provider, Oracle Cerner, to streamline the billing process.
Commission Chairwoman Sue Jones asked Keplinger if the financial statements were correct. Chairwoman Jones said in the past, the board was provided with inaccurate information. Keplinger said she personally oversaw the collection of this financial data.
Commissioner John Johnson thanked Keplinger for presenting the board with an accurate and detailed financial statement. Memorial Hospital Board of Trustees President Rod Waeckerlin agreed, saying that Keplinger’s report provides a roadmap for making the medical facility operate more efficiently.
Armed with Keplinger’s accurate data, Board of Trustees President Waeckerlin said Memorial Hospital of Carbon County can finally start to improve its financial situation.
