Elbert Memorial in the Black Financially for the Month of April

May 28, 2014

Elbert Memorial Hospital has a bounce back month financially speaking, albeit a small one.

Filling in for Interim Chief Financial Officer Larry Magers at the hospital’s authority meeting was AnMed Health’s Vice President of Finance Jerry Parrish.

In the report given yesterday evening, Parrish reported that Elbert Memorial generated a profit of $51,000 for the month of April.

That number comes as a huge turnaround from March’s reported loss of $332,000.

Authority Member Daniel Graves, while encouraged by the good month, still has concerns in regards to the big picture financially.

“I love a black number as much as anybody. I just want to point out the operating profit for the year is still grim”, said Graves. “Sometimes people may see or hear something on the news and say, oh we are in the black, but that is a bb rolling down I-85, I think I wanted to make sure that was clear.”

The bb that Graves is referring to is an operating loss of $897,000 from July 2013 to April 2014, as well as a net income loss of $686,000 through the same time frame.

Graves also said April’s profit could be something the hospital uses to gain some positive momentum.

“If we look at the numbers for April 2014, there is nothing there I see that is an outrageous influx of income. It isn’t like we received an additional million dollars in EHR funds”, added Graves. “The potential is there for us to make the money operationally.”

AnMed’s VP of Finance agreed, but also mentioned that a continuing issue that will continue to affect Elbert Memorial is the amount of bad debt and charity care that the hospital has provided, and will continue to provide.