MMH Financial Snapshot Is Positive for the First Half of 2016
Massena Memorial Hospital officials had positive financial news to share with the Board of Managers Monday evening at their monthly meeting. Chief Financial Officer Pat Facteau reported the hospital has an operating gain of over $400,000 compared to a $171,000 loss in 2015, for the first half of 2016.
Facteau attributes the continued improvement in financial performance to outpatient visits. He said the Emergency Department continues with 6.5% growth year to date and Ambulatory Surgery cases are up over 4%. Likewise other ancillary outpatient services such as Medical Imaging, Lab, Physical and Respiratory Therapy have a gain of 2%.
“Volumes in the hospital continue to increase,” he said. “The hospital’s Medicare Case Mix Index for June was 1.2189 and YTD is 1.2786. This continues to show positive growth as a result of the coding and documentation initiative.”
The Case Mix Index (CMI) indicates the complexity of the care provided to inpatients and is reflected in the hospital’s reimbursement rates with Medicare, Medicaid and other insurances. The higher the CMI the sicker the patients are.
Bob Wolleben, Chief Executive Officer said, “At MMH we pride ourselves on providing compassionate care to our neighbors and community members with increasingly complex medical needs.”
To date, we have treated nearly 60,000 outpatients. The Cardiology Practice is up 13% and Neurology is up 19%, again allowing patients to be treated locally for these specialties. He noted other outreach clinics experiencing growth include the Brasher Falls Family Health Center (up 2 %,) Kids Korner Pediatric Center (up 3%) and the Surgical Group (up 14%) compared to last year.
Additionally the Finance Division reported an increase of the Days Cash on Hand from 60 verses 24 Days Cash on Hand in 2015. Facteau attributed this to better account receivable collections.
The CEO continued, saying, “A priority for this year is to focus on the future because this is what our community deserves. We look forward to continuing to meet the healthcare needs of our communities that we serve and the opportunity to raise our customers’ experiences and satisfaction to new levels.”
In other business, the Board of Managers credentialed three new physicians that will be joining the MMH Medical Team. Dr. Aderonke Adeniyi, Cardiologist will start in Massena Cardiology the week of July 25; and Family Medicine Physicians Dr. Matthew Prionas and Dr. Rohit Barreto are joining the MMH Medical Group in August.