Hutch­e­son hos­pi­tal posts profit

The Catoosa County News - - FRONT PAGE -

Though amounts might be small, Hutch­e­son Med­i­cal Cen­ter has added to its cash re­serves since fil­ing for Chap­ter 11 re­or­ga­ni­za­tion in fed­eral bank­ruptcy court dur­ing Novem­ber 2014.

“Cash is king in bank­ruptcy court,” Far­rell Hayes, the hos­pi­tal’s pres­i­dent and CEO, said dur­ing the hos­pi­tal’s April board meet­ing.

While not a princely sum, Hayes said the hos­pi­tal added about $250,000 to its cash ac­count dur­ing March and now has a cash bal­ance of slightly less than $1 mil­lion.

As part of the bank­ruptcy pro­ceed­ings the hos­pi­tal must file com­plete fi­nan­cial re­ports on the 20th day of each month

“We spent $351,000 more than we col­lected dur­ing the last 4½ months,” Hayes said. “April was the best month in a long time, cash-wise, and we should have $1 mil­lion in the bank by the end of the month.”

Con­tribut­ing to the pos­i­tive cash flow has been an in­crease in the daily cen­sus — the num­ber of those hos­pi­tal­ized — the clo­sure of some un­prof­itable spe­cial­ized ser­vices and more emer­gency room vis­its. Also, those ad­mit­ted to Hutch­e­son have been treated for more se­ri­ous con­di­tions and for longer pe­ri­ods.

While it is not some­thing to be con­sid­ered as some­thing that should be ap­plauded,” Hayes said, “pa­tients we have have been a lot sicker. That is a good thing for a hos­pi­tal.”

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.