After a Tough December Elbert Memorial Aims to Bounce Back Financially in January

February 5, 2014

It’s not as bad as it appears when it comes to the financial information relating to Elbert Memorial Hospital.

In December 2012 the hospital had revenue of roughly 3.79 million, but in December 2013 that revenue declined sharply to nearly 2.71 million.

Elbert Memorial Chief Financial Officer Larry Magers explains why there was such a dip from year to year.

“Last year we received the meaningful use money early in December, also for Medicaid and Medicare both, so we did not receive the meaningful use money this year”, said Magers. “But in the month of January is when you will see that money show up in revenue and in cash on our balance sheet.”

Elbert Memorial finished December with a net loss of $22,000.

Fiscal Year 2014 financial data shows a net revenue loss of $473,000 so far this year.

While those numbers may sound bleak right now, the influx of meaningful use funds expected to come in during January will put everything right back on track financially for Elbert Memorial.