What a difference a year makes for Winneshiek Medical Center

Winneshiek Medical Center is reporting its highest monthly net operating income of the year in March.  The hospital made $343,473 on net revenues of $3.8 million.  That means the hospital is showing an operating gain of $1,275,739 for the first nine months of the 2010 fiscal year.

Chief Financial Officer Lynn Luloff says it's quite a change from last March, when the hospital reported a year-to-date operating loss of over $700,000.  Luloff says revenues at the hospital have increased 10 percent, while costs have been held to just a two percent increase.

Luloff tempered the enthusiasm, however, noting, "Historically, the spring months show a decrease in patient census, and we expect monthly operating gains will decrease by the last quarter of the fiscal year."

The good financial picture will allow the hospital to pay annually $1.4 million in scheduled debt payments; repay funds borrowed for operations from the reserve for capital improvements; purchase needed medial equipment to replace units that have reached their useful life; purchase medical equipment for new procedures; make needed facility improvements; update technology capabilities and retain and recruit highly qualified staff.

For Luloff's complete statement, visit our "Opinion" section.