Words of reality quoted by this hospital CEO, "There are too many variables involved until we go line item by line item", and that is certainly one big challenge as well. Many hospitals have active fund drives in place as well as other sources of creating additional revenue compensation, such as clinical trials, grants, etc. We have corn and beans on this list here too:) How difficult has the process become? BD
Mercer County Hospital reported gross patient revenue of $17,898,000 in 2008. "That's almost $1 million more than last year," said Mercer County Hospital CEO Tim Putnam, "and we didn't raise any rates. From a volume standpoint we did really well." Putnam added, "From an 'ability to collect' standpoint we are nowhere near where we need to be. Our net revenues are nearly $200,000 less than last year because of bad debt and contractual adjustments." The hospital is reporting a loss of $499,743 for the year.
The hospital's fund drive is at $667,143 in cash plus 22,135 bushels of corn and beans (mostly corn).
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