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Hospital sets record for days cash on hand

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money money moneyNASHVILLE – The financial wellbeing of Howard Memorial Hospital continued to improve last month, setting a new record for days of cash on hand and beating their budget by over $50,000, CFO Bill Craig reported at the group’s Tuesday board meeting.


Craig said the hospital had budgeted for a loss of just over $60,000, but lost just $5,761 courtesy of a spike in outpatient and surgery visits as well as the number of adjusted patient days, which reached its highest point since March of 2011. Overall, only five measures of the hospital’s financial health indicators were below budget and even those only barely failed to meet their goal. A sixth below-budget area, the hospital’s joint venture with LHC Home Health, missed its mark by $6,246, but Craig said he anticipates a more favorable outcome in next month’s report.
In other business during the meeting, board members held a 36 minute executive session to discuss performance reviews for Craig and CEO Debra Wright, eventually returning to regular session to approve a 3.7 percent raise for Wright and a four percent pay increase for Craig.

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