CMC posts loss in May
Coulee Medical Center lost nearly $100,000 in May after income fell some $430,000 short of expectations, although June numbers were looking far better, commissioners were told June 26.
Financial statements given to Public Hospital District 6 commissioners indicate the latest bad month for CMC brought the year-to-date loss to $321,213 on total net operating revenues of $9,027,825, a margin of negative 3.5 percent.
The facility had budgeted for a year-to-date gain of nearly the same amount by the end of May, expecting nearly $10.5 million in revenue.
To help stem the loss, the facility spent $225,000 less than it had budgeted for May, Chief Financial Officer Joe Vessey said.
The May loss followed a $30,588 gain in April. Year to date, CMC had gained $41,880 by the end of May, 2012.
Vessey noted that the institution’s cash position was stronger than a year ago, however, by nearly $1.4 million dollars.
Chief Executive Officer Scott Graham said clinic visit numbers were trending downward, but the hospital’s bed census numbers were rising, as are surgeries performed. He said the CMC-owned Columbia Orthopedics practice of Dr. William Faloon in Grand Coulee and Spokane is growing.
In other business, Marketing director Steve Becker reported the CMC’s new sign would be going up along highway 174, and that the facility’s first annual report had been produced as a Powerpoint document to save on printing costs. It is downloadable from cmccarges.org.