Medical Center Posts $2.1M Profit
Fulton County Medical Center held a state-of-the company meeting on Monday evening and announced financial figures that would be the envy of any hospital, small or large, in a continued sluggish economy with unsteady employment rates. The county’s 88-bed critical access hospital and skilled nursing facility posted an operating profit of $2.1 million for the 2012-13 fiscal year. An increase in outpatient and specialty services visits over previous years was chiefly responsible for an increase in profits over last year’s black ink of just over $460,000. Reimbursement incentives for the center’s new electronic health record (EHR)was also credited for the increase in profits.
Vice President and Chief Financial Officer, Deborah Shughart reviewed the combined financial reports and statistics and reported that outpatient visits and specialty services visits both increased by 12 percent over 2011- 12 numbers. Emergency room visits also increased slightly over the previous year while home care visits, long term care, swing bed and acute care all experienced slight decreases in volume for fiscal year 2012-13 when compared to fiscal year 2011-12.
According to the annual report published by the center, FCMC finished the 2012-13 year with an operating profit of approximately $2.1 million dollars. By comparison, in 2011- 12, the center posted an operating profit of approximately $460,000 while in 2010-11, the center showed a deficit of $983,000.
This year, the center posted net revenues of $37,208,679 and expenses of $35,174,727.
Uncollectibles for 2012-13 were stated at $2,555,890.
Outpatient and specialty services volumes were up from the previous year.
The number of outpatient visits was up significantly to 48,138 from 43,058 last year. Outpatient visits accounted for 75 percent of the center’s revenue in 2012-13.
Specialty services were up markedly, 17,733 up from 15,850 last year.
Home care visits were slightly down, 5,023 from 5,158 last year. and the number of long-term care days decreased from 24,378 last year to 24,164 this year.
Emergency room visits increased slightly to 9,723 from 9,267 last year.
The number of acute care days also decreased slightly from 3,133 last year to 2,722 this year.
Medicare continued to provide the most payment for services at 41 percent, while Blue Cross/ Highmark provided 23 percent, Medical Assistance about 16 percent, other insurance and direct pay about 19 percent and 1 percent was provided with financial assistance.
President and Chief Executive Officer, Jason F. Hawkins reviewed the center’s activities during the year. Dr. Jeffrey Mandak was recruited to provide cardiology services in the specialty services clinic.
Hawkins also talked about the success of the new Electronic Health Record (EHR) and the hyperbaric wound center.
He said that with the acquisition of additional land from the both the Washabaugh and Barclay properties, the center has now completed its master site complex and has about 90 acres. “We believe FCMC is well positioned into the future to serve our community for years to come,” Hawkins said.
He went on to say that the main focus in the coming year will be to install cardiac monitoring, upgrade the MRI, expand Telehealth services, recruit additional specialty services in endocrinology, physiatry, lung cancer screening and orthopedics.
FCMC Foundation director, Mike Straley and Director of Community Relations and Benefit, Misty Hershey unveiled the center’s new website that features online registration for events, a healthy communities monitoring system, ease of navigation and advanced security.
It was also reported that the Auxiliary, which was established in 1948, now has 30 life members, 27 active members and 25 inactive members.
Hershey and Straley, reported that the hospital donated $7,250 in scholarships, $11,227 to third parties for the benefit of the community and $2,437 in various sponsorships.
Board Chair, William C. Dovey Jr. announced the re-election of FCMC board members, James Bothell, Sr., Sandra Land, Penelope Shives and Sonny Weicht for 3-year terms. Both Mike Crampton and Dr. Jack Steele, DMD, was also renamed to FCMC’s nominating committee.
The Fulton County Medical Center Board of Directors for 2013-14 includes: William C. Dovey Jr., chairman, James Bothell, vice-chair, Tammy Heming, secretary, Timothy McGarvey, treasurer, Lynn Palmer, Frank D’Amelio, M.D., William L. Milroth, M.D., Sandra Land, Denny Buterbaugh, Tonya K. House, Sonny Weicht, Penelope Shives, Timothy Hann and Jason Hawkins.
The Foundation board of directors includes Bill Hine, Erin Pistner, Brett Cornelius, Spence Perry, Jerry Spessard, Loy Garber, D.A. “Andy” Washabaugh, Helen Overly, Margaret Taylor, Craig Paylor, Jason Hawkins, Deb Shughart and Mike Straley.