MMH Fiscal Health for 2016 Remains Positive
At MMH we pride ourselves on being a trusted provider of compassionate care to our neighbors and community members
Massena Memorial Hospital officials had positive financial news to share with the Board of Managers Monday evening at their monthly meeting, not only for December but for year end. Chief Financial Officer Pat Facteau reported the hospital has a net gain of $117,453 for the month of December. The year to date Operating Margin for 2016 is 2.9%, an improvement from last year is a positive gain of 1.9%.
The hospital has improved its operating gain compared to its planned budget and last year’s performance. Year-end numbers show MMH has a net gain from operations of $1,259,964 versus a gain of $809,048 last year.
Chief Financial Officer Patrick Facteau explained the Medical Surgical inpatient admissions were just 12 short of last year’s admissions. This is a result of MMH’s strategic initiative to stop outmigration through improved services and physicians recruited during 2016. Facteau noted this reflects MMH’s commitment to be the trusted provider of Healthcare in the Greater Massena Area.
The hospital continues to see an increase in both Emergency Room and Outpatient volumes, along with growth in Outreach Clinics due to 12 new physicians that have joined MMH last year. Additionally, the MMH Specialty Clinics of Cardiology, Surgical and Neurology have increased patient volumes averaging 7% as a result of Cardiologist Dr. Aderonke Adeniyi; General Surgeon Dr. Dalkeith Facey and Neurologist Dr. Keijan Tang. MMH continues to recruit physicians to provide the health care services the community needs.
The hospital also completed the payoff of $5.8 million in long term debt, relieving the town residents of a potential tax liability. MMH ends the year without long term debt. The hospital’s Days Cash on Hand was managed successfully in 2016 despite the payment of over $2.8 million in pension obligations and the requirement to repay Medicare $1.6 million. The hospital recently received a $1.3 million Medicare settlement for 2014 low volume adjustment.
Bob Wolleben, Chief Executive Officer said, “At MMH we pride ourselves on being the trusted provider of compassionate care to our neighbors and community members.”
He added, “We continue to move in the positive direction, but 2016 was a challenging year in many areas. MMH talented medical staff and employees responded to each challenge with solutions that made these results possible.”
The CEO also noted recent statements by the new Administration which if enacted will decrease MMH’s revenue by approximately $9 million. Our continued focus on converting to a Non-Profit Corporation coupled with developing a meaningful affiliation relationship are essential parts of responding to these federal changes.
“We continue to focus as a team 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 our community chooses for their medical and healthcare,” Wolleben added.