Halfway through the year, Samaritan Healthcare turning profit

Print Article

MOSES LAKE — At the half-year mark, Samaritan Hospital and Samaritan Clinic are generating more money than anticipated in the 2019 budget. The district’s finances for June were reviewed at the regular meeting of the hospital commissioners Tuesday.

Samaritan’s net income was $1,073,662 for June, and is $3,974,714 for 2019 through the end of June.

Chief Administrative Officer Alex Town said gross revenue in June was about five percent below the budget projection, but it’s about two percent above the budget projection for the year through the end of June. Town said the hospital treated more patients than in June 2018, but revenue was still lower than the budget projection.

Outpatient revenue at the hospital was higher than the projection, but Samaritan Clinic revenue was lower than the projection. The clinic’s 2019 budget was built to reflect the hiring of additional physicians, and some of them haven’t started work yet, Town said. In addition, the budget did not reflect a change in pediatrics, where one pediatrician left and her replacement is still working on signing up patients.

Expenses were below budget projections by about six percent, and are four percent below the projections for the first half of 2019. The hospital had higher expenses for temporary nurses and doctors and its MRI lease, Town said.

Construction is underway on a building to house the hospital’s new MRI, which will eliminate the need to lease one. Town said construction should be completed by late September.

The hospital’s investment portfolio has generated more income in 2019 than it did in the same period in 2018, Town said. Bad debt and charity care expenses for the first half of 2019 were $3,022,048.

Town said he anticipated the hospital district will be in good financial condition for the rest of 2019. The district will be converting to a new electronic records system next year, and Town said that could result in billing delays, which could have an effect on the hospital’s finances in early 2020.

Town said he’s worked at other hospitals during the conversion to a new records system, and it did have an impact on issuing bills, and being paid. “Next spring it (the financial report) could look different,” he said.

Cheryl Schweizer can be reached via email at education@columbiabasinherald.com.

Print Article

Read More Local News

Buddy Walk brings out smiles

October 14, 2019 at 5:00 am | Columbia Basin Herald MOSES LAKE — A last-minute rescheduling couldn’t dampen the smiles of the walkers at the Down Syndrome Society of Grant County’s annual Buddy Walk Saturday. The event was supposed to have taken plac...

Comments

Read More

Port concerned about space taken up by Boeing 737s

October 14, 2019 at 5:00 am | Columbia Basin Herald MOSES LAKE — Commissioners overseeing the Port of Moses Lake have become concerned about the amount of space Boeing appears ready to fill at the Grant County International Airport with grounded 737 M...

Comments

Read More

Big Bend CC to pursue bachelor degree program

October 14, 2019 at 5:00 am | Columbia Basin Herald MOSES LAKE — Big Bend Community College students might be able to get a Bachelor of Applied Science degree in applied management, starting in the fall of 2021. The State Board of Community and Techni...

Comments

Read More

Volunteering can help on many levels

October 14, 2019 at 5:00 am | Columbia Basin Herald There is often a good reason for someone volunteering for a particular organization. It becomes a passion that is shared with others who have the same interests. For Terri Nichols of Othello, that p...

Comments

Read More

Contact Us

(509) 765-4561
PO Box 910
Moses Lake, WA 98837

©2019 Columbia Basin Herald Terms of Use Privacy Policy
X
X