Hospital reports $2.6 million profit for fiscal year '12
Wednesday, November 7, 2012 12:00 AM
Neshoba County General Hospital and Nursing Home saw an unaudited $2.6 million profit during Fiscal 2012, its administrator told the Board of Supervisors Monday afternoon.
Administrator Lonnie Graeber said while an annual audit is under way at the hospital, the facility "had a very good year" financially.
"We just finished our fiscal year on Sept. 30 and we had a $2,573,000 unaudited profit," Graeber said. "Last fiscal year, we had a $214,000 audited profit. Auditors were here last week to start the annual audit."
Graeber attributed the profit to "watching expenses and increasing volume in the in-patient area."
The facility had a more than $1.9 million loss in fiscal 2010.
The $2.6 million profit for fiscal 2012 comes as construction is ongoing on a new $19 million hospital, adjacent to the current facility.
Graeber told supervisors that the new hospital is expected to open in April.
He said contractors would complete the brick on the building in November with the exception of small walls and columns at canopies. Roof flashing is also expected to be completed in November.
The installation of interior framing and door frames on the first floor are currently in progress, Graeber said.
The administrator told supervisors that the hospital recently purchased about $250,000 in new equipment for digital mammography and cardiac stress testing.
While the hospital does about 100 mammograms a month, 215 were done during October at a special rate during Breast Cancer Awareness Month.
The hospital also plans to buy two new ambulances as three of the five in the fleet have over 200,000 miles.
Graeber told the Board of Supervisors that a "decoration project" was ongoing in the nursing home with the addition of new wallpaper, which is about 80 percent complete. New flooring and ceiling insulation are also planned.
He said the ongoing "nursing home facelift" would include updates to some patient rooms next year.
Graeber began cutting costs in February 2011 soon after taking the helm as hospital administrator on Nov. 15, 2010, in the wake of the $1.9 million deficit.
Months earlier, on June 30, 2010, the hospital Board of Trustees terminated its management agreement with Quorum Health Resources Inc. The firm was paid $220,605 annually for management services and $318,171 for key employee compensation. The firm had managed the facility since March 1993.