Hospital gross charges reach record level of $14.1M
The month of August was a good one financially for the Adams Health Network (AHN) as members of the AHN Board of Trustees learned at their monthly meeting Wednesday that gross charges for the month totaled a record high of almost $14.1 million as all areas of the hospital experienced higher levels than in July.
Total gross charges for the year are $105 million which is a 12.64 percent hike from 2022 levels. Inpatient admissions reached an average of 19.8 per day, the highest monthly figure to date and as Kyle Sprunger, assistant chief financial officer for the hospital noted, is not typical for this time of the year.
The majority of revenue for the hospital continues to be generated by outpatient volumes and visits to see AMH physicians in their office. The hospital saw an average of 255 office visits a day for the family practice physicians in addition to another 96 visits a day to AMH specialty doctors. These two groups accounted for 89 percent of August’s revenue and outpatient revenue is 13.5 percent higher than what was budgeted.
Sprunger said expenses for the August were higher than in previous periods, but must anticipated with the amount of growth and volumes that have occurred this year. Year-to-date total network expenses totaled $70.8 million of which $55 million went to payroll for the 980 AHN employees.
Ending his comments to the trustees, Sprunger noted “notable increases in expenses can be found in our capital equipment and facilities as the network continues to invest in these categories. These expenses are up eight percent when compared to previous years and it is evident-based on our expenses and spending that the network has prioritized people, technologic advancements, and enhanced facilities all in the pursuit of fulfilling our mission.”
Dr. Scott Smith, chief executive officer of the network, discussed construction projects underway or that have been recently complete by the hospital.
He stated “we have now completed several projects this year with several more that are still on track for completion this year.” In particular, he noted work on the N. 13th Street building the hospital will be taking over (former site of Mediacom Cable Company and the optometry office of Dr. Steve Bennett) is “on track to be completed on original timing schedule.” The hospital will be moving its Statcare non-emergent medical care center and the Behavioral Health Center offices to this location as well as opening a retail pharmacy store there.
He said the construction by the Witwer Construction Company of Fort Wayne on the Adams Medical Group-Geneva office building at the intersection of US 27 and CR 950 S is on track to be completed yet this year and construction on the third floor of the hospital that is renovating the former area housing the Information Technology Department (now in the basement of the hospital) that will result in five additional offices being available in underway and will be finished by the end of October. What Smith called a “much-needed relief to the A and B classrooms” is also going to be in this third floor area and will offer a large meeting room space.