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November 20, 2008

Three Rivers Health posts $222,000 loss in October

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Written by: Bruce Snook
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More “red ink” was reported Thursday morning (November 20th) during the regular monthly meeting of the Three Rivers Health Authority Board, a session moved up by a week because of the Thanksgiving holiday.

The “Summary of Financial Performance” for October showed a net loss of more than $222,000 ($222,245) for the month.

Steve Andrews, Vice-President of Finance, said acute admissions were down in October, contributing to a higher-than-anticipated loss for the month.  He said outpatient volumes are down and “it really sticks out with ER.”

Regarding the emergency room, Matt Chambers, President and CEO of Three Rivers Health, said “there may be some effect” from the fact that the hospital has not yet announced a new group to handle the emergency room.

Chambers said he’s been getting “all kinds of information” via e-mail and the problems impacting Three Rivers Health reflect trends that are “nationwide.”

Andrews said that, so far, November activity is “pretty normal” and admissions are actually up a little bit, but he expects activity to “drop off dramatically” next week with the Thanksgiving holiday.

Andrews said “the FTEs are starting to come down,” but some of those cuts are being offset by overtime resulting from the staff working with consultants and the Information Systems project.  And he said, “The projections for November and December, obviously, are negative.”

For the year-to-date, the net loss for Three Rivers Health totals more than $1.7-million ($1,763,571), an amount that is more than $2.7-million below budget.






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