Medical Center Posts $450K Profit
Fulton County Medical Center held a state-of-the company meeting on Monday evening and, in spite of a continued sluggish economy and unsteady employment rates, the county’s 88-bed critical access hospital and skilled nursing facility posted an operating profit of $450,000 for the 2011- 12 fiscal year. An increase in various services over last year was chiefly responsible for turning around last year’s nearly one million dollar loss.
Vice President and Chief Financial Officer, Deborah Shughart reviewed the combined financial reports and statistics and reported that outpatient visits, specialty services visits, home health visits, ong term care services, swing bed and acute care all experienced increases in volume for fiscal year 2011-12 when compared to fiscal year 2010-11.
According to the report only emergency room visits were down from the previous fiscal year.
According to the “State of the Company” report, the center finished the 2011-12 year with an operating profit of approximately $450,000. By comparison, in 2010- 11, the center posted an operating deficit of of $983,000.
This year, the center posted net revenue of $32,906,981 and expenses of $32,438,651.
Both Shughart and FCMC’s CEO Jason Hawkins attributed the profit to an increase in services overall and to their being able to subtract uncollectibles from revenues rather than reporting them as expense.Uncollectibles were also down some to $2.26 million from $2.58 million the previous year.
Patient and services volumes were up from the previous year.
The number of outpatient visits was up significantly to 43,058 from 40,741 last year.
Specialty services were up markedly, 15,850, up from 13,311 last year.
Home care visits were up, 5,158, up from 4,458 last year and the number of long-term care days increased from 24,179 last year to 24,378 this year.
Emergency room visits decreased slightly to 9,267 from 9,510 last year.
The number of acute care days increased from 2,856 last year to 3,133 this year.
Medicare continued to provide the most payment for services at 40 percent, while Blue Cross/ Highmark provided 18 percent, Medical Assistance about 17 percent, other insurance and direct pay about 24 percent and 1 percent was provided with financial assistance.
President and Chief Executive Officer, Jason F. Hawkins reviewed the medical staff and the center’s specialty services outlook. New physician recruitments have included physiatrist, Dr. DeMarco; audiologist, Dr. Parr; orthopedists, Dr. Espenshade and Dr. Goltz; nephrologists, Dr. Soi and Dr. Malhotra; cardiologist, Dr. Mandak; and opthalmologist, Dr. Facchina.
Hawkins told those in attendance that the main goals for the coming year are to recruit physicians, reduce costs, complete the electronic medical record project that was initiated this year, and expand the emergency room to include more exam rooms, to add telemedicine capability and to add a hyperbaric wound center.
Hawkins, in talking about the economy, also said, “We are very excited about the results of 2012 here at FCMC. This past year we made many changes to respond to the decreased funding from government payers and to federal reform. We believe FCMC is wellpositioned into the future to serve our community for years to come.”
Hawkins also pointed out that 72 percent of FCMC’s business comes from Fulton County while 13.5 percent and 11.7 percent comes from Huntingdon and Franklin counties, respectively.
Hawkins also reported on a recent community health needs assessment and said that the needs assessment identified the six top priorities for focus as tobacco use, prescription drug abuse, diet and obesity, physical inactivity, children, youth and families and people over 65.
It was also reported that the Auxiliary now has 30 life members, 27 active members and 25 inactive members. The Auxiliary will celebrate its 65th anniversary in 2013 and is planning to publish a cookbook.
Misty Hershey, Director of Public Relations and Community Benefit reported that the hospital donated $37,000 for the benefit of the community and served 5,642 people in those programs funded.
Board Chair, William C. Dovey Jr. announced the re-election of FCMC board members, Tonya House, Dr. William Milroth, Lynn Palmer and Dovey for 3-year terms. He also announced the election of a new board member, Penelope Shives, who will replace a vacant seat left by Heather Sigel.
Dr. Jack Steele, DMD, was also renamed to FCMC’s nominating committee and Mike Crampton was also appointed to the nominating/ community committee.
The Fulton County Medical Center Board of Directors for 2013 includes: William C. Dovey Jr., chairman, Lynn H. Palmer, Frank D’Amelio, M.D., , Timothy R. Mc- Garvey, treasurer, William L. Milroth, M.D., Tamela M. Bard, secretary, James A. Bothell, vicechair, Sandra Land, Denny Buterbaugh, Tonya K. House, Sonny Weicht, Penelope Shives, Timothy Hann and Jason Hawkins.