Hutcheson Losses Higher Than Expected For October, But Profit Of Over $3 Million Projected For 2013

Monday, November 26, 2012

Hutcheson Medical Center officials released October’s financial results at today’s Board of Directors’ Budget and Finance Committee meeting. The North Georgia health system announced an October loss of $395,802 against a projected loss for the month of $204,761.

 

“Hospital operations did well on lower volume but the primary loss was attributed to a billing company transition in the Hutcheson Medical Division,” stated Roger Forgey, president and CEO of Hutcheson Medical Center. “We have budgeted small monthly losses for five of the next seven months for expenses related to the implementation of our new electronic medical records system.”

 

Mr. Forgey noted the electronic medical records system is scheduled to go live in April 2013 and that the hospital expects to earn a profit of over $3 million for the 2013 fiscal year, the first annual profit in five years.

Despite the loss, October earnings reflected a $1.08 million improvement versus October 2011. Compared to last year, the patient census for October was up 32%, total surgeries were up 16%, and 7% more patients visited Hutcheson’s emergency room. Officials also noted increased births and cancer center visits in October over the previous month, and a steadily improving commercial and Medicare payer mix.


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