By Ashley Barker
Published April 16, 2014
Including funds restricted for construction and telemedicine projects, the hospital authority’s assets included $76.6 million of cash at the end of February, according to recent financial statements.
The hospital had record collections in the first eight months of the fiscal year that started June 30. Hospital patient accounting collected $6 million per month more than the same period last year, the statement said.
Net patient revenue was also up 7.1% from the same period last year, and inpatient census was up 4.2% over the last fiscal year, the statement said. Emergency room visits were down 2.3%, operating rooms cases were up 4.8% and transplant cases were down 16.6% when compared with the previous year, the statement said. MRI and CT scan procedures also increased by 4.5% and 2.1%, respectively.
On a volume-adjusted basis, net patient revenue was up 6.2% at $18,682 per case as of Feb. 28.
“This is a result of an increase in acuity driven by the increase in surgical cases,” the statement said.
Salaries and benefits of authority employees decreased by 1.7% to $5.4 million when compared with the same eight-month period from the last fiscal year. There were nearly 99 fewer full-time employees during that time, mostly in the lab, radiology, neurosciences and psychiatry service lines, according to the statement. Employee increases were seen in the information technology, surgery, therapeutic services and clinical effectiveness departments.
Reach Ashley Barker at 843-849-3144 or @AshleyNBarker.