Coulee Medical Center going for zero in 2014
The public hospital district that runs Coulee Medical Center is aiming for zero next year.
That is, a net gain of nothing on its bottom line, which would be an improvement over this year and last.
Commissioners for Douglas, Grant, Lincoln, Okanogan Hospital District 6 approved a budget Oct. 30 that sets out that break-even goal on total patient revenues of $37.3 million, which gets cut to $22.9 million after adjustments for Medicare, Medicaid and insurance payers, charity care, bad debts and other deductions.
The hospital is on track to lose $286,000 by year’s end, according to the budget prepared by Chief Financial Officer Joe Vessey, far less than the $1.8 million loss in 2012 that included accounting for a buildup of uncollectible accounts.
This year’s loss will amount to about 1.3 percent of what the hospital takes in.
Some $23.9 million in expenses listed include $15.4 million for payroll and benefits, contracted labor and professional fees.
Projected non-operating revenues include $487,000 in investment income, slightly less than the $551,000 expected for 2013.
Vessey reported a net gain of $82,743 for September, almost $20,000 above budget, but a year-to-date loss of $214,799.