At the Dickinson County Healthcare System Hospital Board of Trustees meeting, the Board approved the financial report for May, 2020.
The healthcare system had $5,995,597 in total operating revenue and expenses totaling $7,623,696 that resulted in an operating loss of ($1,628,099). The loss is directly attributable to the Governor’s order to discontinue elective procedures during the months of March and April.
After the calculation of non-operating revenue and expenses, that includes COVID-19 relief funding and subsidies, the total positive income for the month is $4,046,227. Additional May 2020 Financial Data showed the following:
• Cared for 148 inpatients, 32% below budget;
• Cared for 9,506 patients in the outpatient hospital setting, 32% below budget, including 695 patients in the Emergency Department;
• Cared for 5,403 patients in physician offices, 37% below budget;
• Uncompensated Care provided for the month totaled $344,289.
May’s performance brought the year-to-date for 2020 to an operating income of $35,046,857. After the calculation of non-operating revenue and expenses, through May the 2020 year-to-date bottom line is a positive $3,346,545.
Dickinson County Healthcare System, Chief Financial Officer (CFO), Brian Donahue explained, “the stimulus income received was recognized in the month of May and is intended to offset operational shortfalls in future months of operations due to the lingering effects of the COVID-19 pandemic.”
The Board of Trustees thanked the entire DCHS team, specifically the Finance Department for their extensive efforts in pursuing relief funding and spending countless hours and completing mounds of paperwork to pursue the needed funds that were available.
Chuck Nelson, DCHS President and CEO added, “The DCHS team implemented a solid COVID-19 response plan that included patient centered focus while also being aware that our revenue stream would basically cease in some areas. Fortunately, many of our requests for assistance were granted based on the data our team provided and the strategic COVID-19 response plan that was submitted. We continue to enforce the highest level of COVID-19 preventative measures as we begin to reengage elective procedures and resume the full scope of care of our patients.”
Tamara Juul, Executive Director of the Dickinson Hospital Foundation reported that the Foundation’s Board of Trustees approved the funding of Hospital focused initiatives including a well needed lobby flooring and furnishings renovation, and the purchase of industrial washer/dryer to assist with the sanitizing of highly coveted and difficult to obtain, surgical gowns and Personal Protective Equipment (PPE). “Through private funding and donations, the Hospital Foundation Board of Trustees understand the importance of quality care coupled with the patient experience and we are proud to support the great efforts of our local Hospital”, shared Director Juul.
Dickinson County Healthcare System Board Chairwoman, Margaret Minerick closed with the following comment, “We have a great team here at DCHS and we are all very appreciative of the wonderful job the staff has been doing during the COVID-19 pandemic. On behalf of the Board and as a member of this community, thank you for all you do.
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