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ARMC has good budget but dropoff expected

November 29, 2012
Emily Siegmon - News Staff Writer , The Alpena News

ALPENA - The Alpena Regional Medical Center Finance/Cost Containment Committee reviewed the October financial reports, and will present it to the full board Tuesday. George Smart, vice president for finance and information systems, said ARMC is financially ahead of budget, but expects a dropoff in revenue over the winter months.

"October volumes spiked quite nicely in virtually every area, volumes significantly increased in inpatient and outpatient surgery. We made a profit of $921,795, which is 4.5 percent better than we planned," he said.

According to Smart, for the month ending Oct. 31, operations generated excess revenue over expense of $921,795 compared to a planned excess of $263,130.

However, with the addition of non-operating revenue, net excess revenue over expense amounted to $968,094.

"Expenses also came under budget, which has been consistent throughout the year," he said. "Overall, cash flow was good, we have a healthy cashflow standpoint."

The committee accepted the financial reports with operating fund disbursements of $9,370,821 with R&I disbursements of $293,508 and write-off of uncollectible patient accounts of $729,384 with recoveries of $79,521.

"As of right now, the trends from the month of November show volumes have sustained and admissions are above budget," he said. "We're ahead of budget, but I expect a drop off going into the winter months with snowbirds leaving."

In other business, the committee will present one capital purchase recommendation for new shelving units for Materials Management Storeroom, from Trinity for $15,234.

Emily Siegmon can be reached via e-mail at esiegmon@thealpenanews.com or by phone at 358-5687.

 
 

 

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