Hospital projects $6.2M profit
Wednesday, February 5, 2014 12:00 AM
With an unaudited projected profit of $6.2 million for fiscal year 2013, Neshoba County General Hospital will soon be providing a number of new services, including sleep study, wound care and pain management to generate additional revenues, its chief executive officer said on Monday.
CEO Lonnie Graeber gave the Board of Supervisors an update on the hospital, announcing that the Board of Trustees had purchased the adjoining Four Seasons property with plans to construct an outpatient rehabilitation facility.
Graeber said the hospital would take possession of the property in April after Four Seasons relocates to another site.
He told supervisors that FY 2013 was a "tremendous year" for the hospital and nursing home, noting that a good portion of the $6.2 million profit was from the upper payment limit program that defines the maximum reimbursement a state can pay to a class of providers for Medicaid services.
Graeber said the hospital had just completed its first three months of the new fiscal year, noting that a $130,000 loss was recorded, compared to a $60,000 loss for the same period the previous year.
"Of course, we are now in our three to four winter months that are historically when we make our money for the year," he said.
Graeber said January was an outstanding month for the hospital.
"We will be back in the black and have a profit going I'm sure," he said.
The hospital had cash gains from operations totaling $150,000 for that same three-month period.
"We are doing fine financially," Graeber said. "Our cash situation is very strong."
While a new outpatient infusion unit is now in operation at the hospital, plans call for a sleep lab to open in April. A wound care center and a pain management center are expected to open in June.
In addition, Graeber told supervisors that an OB/GYN physician from Meridian would soon be coming to Neshoba General to do outpatient surgery.
"Those are some of the things we have going on to produce additional revenue," Graeber said.
As for the new hospital, he told supervisors that there were still some landscaping and directional signage yet to be completed.
"We feel like there is still a little bit of confusion about where people go. On the front entryway canopy we are going to add a nice sign that simply says hospital entrance," he said.
There will also be signage directing people to patient rooms, admissions and outpatient testing.
He said the renovation of the old emergency room and X-ray department is well under way. That area in the old hospital will house the new laboratory.
Walls are up in the new gift shop that will be three times larger than the current one, he said.
The old entrance to the hospital has been demolished. It will be used an as emergency exit, Graeber said.
"We anticipate all of that will be finished by the first of June," he said.
Physical therapy, occupational therapy and speech therapy services will be provided in the new outpatient rehabilitation building.
"It will have an small indoor pool for aquatic therapy which is much in demand now," Graeber said.
The Board of Trustees is also in the planning stage for a new medical office building on the hospital campus.
In addition, the old AT&T property, between the nursing home and Four Seasons, will be reserved for future long-term care services, potentially assisted living, Graeber said.
"That hasn't been decided at this point," he said.
Graeber also announced that two pediatricians on staff at the hospital plan to open an after hours pediatric clinic from 5 p.m. to 8 p.m. Monday through Thursday in the near future.
He thanked supervisors for their service to the community as well as to the hospital.