Hospital numbers trending upwards

Published 4:18 pm Friday, January 19, 2018

Key financial indicators for the month of December 2017, add up to what CEO James Lambert called “A good month.” A net income of $205,692 was reported and the patient census was up.  The month of December saw the hospital at “almost capacity” with a daily census of 40, a good problem to have, according to Lambert.

Some concern was expressed about the Accounts Payable column that showed an increase of $704,853 for a total of $7,577,417. But an explanation was given that the number can be misleading, due to other figures, such as bond payments, etc., being included with actual vendor accounts that actually run between $3 and $4 million. Discussion was had to change the way those are reported in the future.

One capital equipment purchase for an updated security system with card readers for infants and pediatrics was approved at a cost of $107,000 over a five-year period. It is to be funded out of the tax credit program proceeds that include First Port City Bank’s donation of $55,000, which was designated specifically for that use.

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Lambert reported he had attended the Georgia Hospital Association meeting and shared information he learned there regarding percentages being paid by Medicare, Medicaid and uninsured patients.He is waiting to hear back from a prospect regarding the CFO position.

Trey Monroe, director of Stifel Merchant Capital Division of Atlanta, the firm that structured the bond resolution for the hospital with the City of Bainbridge and Decatur County Commissioners, was present and reported the plan is working as it was designed to do, that the account is fully funded. 

Discussion was had regarding Tallahassee Orthopedic Clinic’s use of the surgical department. They have a new physician coming in February and Wednesdays will be blocked out for their use. They will also be encouraged to use the hospital’s therapy providers.

After a short closed executive meeting to discuss quality issues, the board returned to open session and approved physician credentials, both new appointments and reappointments.