The February hospital board meeting began with the approval of the minutes from the previous month, with all members voting in favor. The meeting then moved into a review of the financial report, which provided a snapshot of the hospital's performance for the month.
Volumes saw a slight uptick from January, though swing bed usage declined, and surgeries were down due to a surgeon being out for half of the month. Despite these challenges, the hospital reported a gross patient revenue of $3.7 million and an operating revenue of $2.1 million. The net income for the month came in at $156,809, with accounts receivable decreasing by $100,000. The rural health clinic contributed an income of $655. Additionally, the hospital added $116,000 to its sales tax fund, which now has a total balance of $5.1 million.
Leslie Huitt, the hospital’s CEO, provided an update on the hospital’s financial health, noting that February had been a better month financially than January.
“Things are trending in the right direction,” she said, though she cautioned that more work is needed. “We still need to spend time looking because we are using more cash than we are bringing in. I don’t know that there’s a lot more to cut, but I do think there’s room to collect more revenue.”
Huitt then brought up the upcoming health insurance renewal for employees, with indications that Blue Cross Blue Shield will raise premiums by 28 percent. She stated that the hospital will not be able to absorb the full increase, and employees could face significant rate hikes. Decisions regarding the renewal will need to be made quickly.
Huitt also discussed the status of the American Rescue Plan Act (ARPA) funding. The hospital met its goal for operating income.
“ARPA funding is still very much up in the air,” Huitt said, noting that the hospital is waiting for the state to finalize its decisions on the matter.
BCMC’s Chief Nursing Officer, Jamie Wolfe, shared positive feedback regarding the hospital’s emergency department.
“We’ve had a lot of good remarks in the past couple of weeks from patients concerning the ER,” Wolfe reported. He added that patients had been bypassing other hospitals’ emergency departments to seek care at BCMC, a clear indicator of the hospital’s growing reputation for quality emergency care.
Leeanna Williams, the hospital’s Chief Operating Officer, updated the board on several initiatives. These included exploring telehealth options and strengthening community mental health resources. She also mentioned that Access Health had conducted an on-site credentialing audit, which was met with a favorable report.
The board then moved on to approve four new policies. A motion was made to accept the policies, and all board members voted in favor.
After the policy approval, the board discussed several other financial issues before moving into an executive session to discuss confidential matters.
The next hospital board meeting is scheduled for Thursday, March 27.
