MMH Financial Health Continues Positive-November Update
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 a net gain of $102,806 for the month of September compared to a minor gain of $71,163 in 2015. To date, the hospital has improved its operating gain over budget by 15%. The operating gain this September is $102,191, compared to a $16,438 loss in 2015. Year to date, MMH has a net gain from operations of $913,122, versus a loss of $81,829 last year.
“Based upon budget, the Outreach Clinics are 3% higher than budget. This is due to the additional providers with two new Family Medicine physicians, an additional OB/GYN and a full time Cardiologist. The Cardiology practice has nearly doubled the number of patients seen compared to September 2015,” explained Chief Financial Officer Patrick Facteau.
Facteau attributes the continued improvement in financial performance to outpatient visits. “The North Country Women’s Clinic is also up 14% compared to budget, along with the Walk In Clinic up 26% budget,” he said. “The Medical Surgical Pediatric Discharges are consistent with budget, experiencing a modest upward trend of 2% growth.”
He said the Emergency Department continues with 3% growth year to date. Likewise other ancillary outpatient services such as Medical Imaging, Lab, Physical and Respiratory Therapy continue to have a gain of nearly 2%.
Bob Wolleben, Chief Executive Officer said, “At MMH we pride ourselves on being a trusted provider of compassionate care to our neighbors and community members.”
MMH is committed to providing care locally by providing talented physicians, practitioners, and staff. Volumes in the physician practices of cardiology, surgery and neurology are up significantly. This translates to better financial performance particularly an improvement of Days Cash on Hand, which has grown to 55 verses 31 Days Cash on Hand in 2015. This is notable, with the month of September having three payroll days, an additional $1.1 million against the budget.
The CEO continued, “I am pleased to report this progress which reflects the combined efforts of our talented staff. MMH is going in the right direction and appreciate the trust the community affords us as their hospital of choice. The healthcare world is always changing and we need to focus beyond today to years from now so that MMH continues to serve our communities proudly. A continued focus is to bring additional physicians, primary care and specialists, to the medical staff to increase the number of patients we can serve.”
Wolleben said MMH has four new physicians who are building their practices. They are: Dr. Aderonke Adeniyi, Cardiologist Massena Cardiology; Family Medicine Physicians Dr. Matthew Prionas and Dr. Rohit Barreto joined the MMH Medical Group and Dr. Jeffrey Greenberg, OB/GYN, who joined the North Country Women’s Health, working with Dr. Emmanuel Nwogu, OB/GYN and Nurse Midwife, Barbara Hillis, CNW.
Wolleben added, “We continue to move in the positive direction, but need to be very cognitive of continuing challenges. The hospital is working on the DSRIP, Delivery System Reform Incentive Program, which is the redesign of how Medicaid patients are cared for. This program impacts us on the inpatient admissions and Emergency registration. This new phase puts our Medicaid reimbursement at risk.
MMH continues to work on in developing the DSRIP Medical Village and Patient Centered Medical Home, to include the Electronic Health Record, policies and procedures for all outreach clinics. Additional PCMH training is ongoing for the providers, support staff and patients.
The CEO also noted continued uncertainty at the Federal level with policy changes in the Medicare reimbursement. Medicare is recalculating payments that have already been paid, and hospitals may be responsible to repay. Healthcare reform at the federal and state levels is prompting the shift from volume to value, demanding providers to coordinate care across the healthcare spectrum.
“We continue to focus on the future to ensure MMH is a place where patients want to come, physicians want to practice, our employees want to work and of course where our community chooses for their medical and healthcare,” Wolleben added.