The Bradley County Medical Center Board of Directors met Thursday, Jan. 22, for its regular monthly meeting, approving minutes from the Dec. 29 meeting and reviewing December financial and operational updates.
Controller Matt Pace presented the December financial report, noting patient days increased from November across all departments except the Senior Care Unit. The hospital reported $3.5 million in gross patient revenue, $1.6 million in net operating revenue and a net loss of $135,000 for the month. Accounts receivable decreased by $650,000 compared to the previous month.
Pace reported the Rural Health Center generated $112,000 in total revenue and $168,000 in net revenue, resulting in a loss of $50,000. He also stated $118,000 was added to the hospital’s sales tax fund.
CEO and CFO Leslie Huitt said December volume and revenue showed improvement over November despite the holiday season. She explained a technical issue with the Meditech system caused incorrect credits to some patient accounts when incorrect secondary insurance payments were applied after primary payments.
“If not for this, December could have had a positive net income,” Huitt said.
Huitt said hospital staff met with Meditech to identify the cause of the issue and are working to ensure it does not recur. She said she was encouraged by recent financial trends.
“We want to see a trend of consistency in doing better,” Huitt said.
Huitt informed the board that new federal price transparency rules will take effect in April. She said BCMC has contracted with Vitality at a cost of $1,250 per month to monitor compliance and maintain up-to-date pricing information on the hospital’s website for patient access.
Huitt also reported that new EKG machines have been received and paid for, while a new portable X-ray machine and freezer have been ordered. Sales tax funds were used for these purchases as previously approved during the budget process.
She updated the board on the hospital’s generator project, stating bids are being prepared. Terry Young, director of purchasing, met with HealthTrust representatives who indicated they could
assist in securing bids and identifying potential cost savings.
Huitt said the hospital obtained a new diesel fuel tank from Sewell Oil at no rental cost as long as it is used for diesel fuel. The board approved the use of sales tax funds for the purchase of the fuel tank, diesel fuel and six new Holter monitors previously approved in the capital budget.
Huitt also announced BCMC received notification Jan. 21 from the Lown Institute Hospitals Index that the medical center ranked No. 1 in social responsibility among 19 hospitals and earned an A grade in multiple categories. The Lown Institute evaluates hospitals using metrics such as racial inclusivity, avoidance of unnecessary care and pay equity, using cost reports and data from the Centers for Medicare and Medicaid Services.
Chief Operating Officer Leeanna Ashcraft reported the Cardiac Pulmonary Rehabilitation program is receiving an increasing number of referrals. She said one patient travels from Star City twice a week to attend the program. Ashcraft also said other hospitals have contacted BCMC seeking guidance on starting similar programs.
In other business, Huitt reported the home health department received its Internet Quality Improvement and Evaluation System reporting, which showed performance well above the national average.
“I am so proud of them. They run their program well,” Huitt said, noting December visit numbers were higher than previous months.
Huitt said an impact analysis from Vision Financial showed that regardless of services offered, the hospital must improve its collection efforts to strengthen its financial position.
The board discussed a proposal from Merchant McIntyre Associates Federal Funding for grant-writing services and voted to table the item.
The board approved four annual policies before entering executive session. The next Bradley
County Medical Center board meeting is scheduled for Thursday, Feb. 26.
