Another Tough Month Financially for Elbert Memorial Hospital

September 25, 2013

Relief may soon be on the horizon for Elbert Memorial Hospital financially speaking, least that is the hope after another down month for revenue.

Making his debut last night, new Interim Chief Financial Officer Larry Magers, said a lack of patients and a lack of in house surgeries has really had a substantial impact on the hospital’s revenue.

“We seem to have a lot of medical patients and not so many surgery patients last month”, explained Magers. “Last month we had a gross revenue from surgeries of about $270,000 and this month we are down to between $130,000-$140,000; which is roughly have of what we did last month.”

In total, for the month of August, the hospital reported a net loss for the month of two hundred and three thousand dollars.

In the wake of revenue woes, the hospital continues to tighten its belt, such as the case with payroll.

According to Magers, as of September 1st, Elbert Memorial’s payroll expense was two hundred and eight thousand dollars, but after implementing furlough days and reducing hours, September 15th’s payroll was down about fifteen thousand dollars to one hundred and ninety-three thousand dollars.