Hospital passes ‘functional’ FY 2016 budget

Published 5:16 pm Friday, April 24, 2015

A new budget for FY 2016, which began April 1, was passed at the April board meeting of the Memorial Hospital and Manor Authority this week.

Described by Authority President, Glennie Bench, as “a good functional budget that takes care of things we need to do now,” it calls for ending the new fiscal year with a $1,058,165 net income profit, rather than the $1,653,879 loss with which 2015 ended.

The month of March 2015 was an especially bad month as the key indicators showed a net income loss of $923,708, which was explained as “some year-end cleaning up.”
CFO Bill Huling went through the individual categories on the new budget, showing how each figure was achieved and the comparisons to prior years.

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It projects a gross patient revenue of $105,798,650, with total revenue deductions of $60,584,885 resulting with a net patient revenue of $45,213,765, over the $39,247,576 figure for 2015.

It is important to note that the new budget does not include the new indigent proceeds approved by the City and County.

It budgets for a 3 percent merit raise, as well as some salary adjustments, bringing them up to market, equal to 5 percent The market adjustments are initiated in response to the Georgia Hospital Association salary survey completed two years ago, which showed a substantial shortfall in Bainbridge.

It allows for eight additional full-time employees for the finance division. This is aimed at strengthening the revenue cycle and key financial functions.

Includes $80,000 to participate in a Stratus initiative targeting improvements in clinical integration.

Includes additional software costs for installation of Relay Health. This software will provide much needed tools to gain valuable insight into denied and rejected claims. Phase II will aid upfront financial representatives in discussions with patients about patient financial responsibilities.

Also approved at the meeting was a contract to provide ICD-10 coding services training at a cost of nearly $17,000.

CEO Billy Walker gave a monthly report.

Announcements included naming Gloria Clark as the employee of the month. She has worked in the accounting department since 2006 and is nominated for always being helpful with a smile on her face, and a team player.

• Plans are going forward for the annual Derby Night to be held May 2. There was a $1200 profit from the marathon held earlier. Both of these are fundraising events for the Hospital Foundation. The project this year is to use the proceeds toward the purchase of a new CT machine for the Radiology Department.
• The hospital had a team participating in the Relay for Life last Saturday, but the relay was called off at 2 p.m. due to inclement weather. The date for fund raising has been extended to May 1.
On May 14 there will be a picnic and awards program on the front lawn at noon for employees.
• Dr. Miller will retire in June after practicing here more than 20 years. There will be a retirement party to honor him on June 12.
• Announced MHM had received a 4 stars rating on patient satisfaction
from the Centers for Medicare and Medicaid Services. This rating was done nationwide and over 100 hospitals in Georgia were ranked. The average of those was 3.2 stars and 30 percent of the hospitals ranked 4 stars; 4 percent ranked 5 stars.