Winneshiek Medical Center loses money in March

Higher than budgeted payment write-offs are causing Winneshiek Medical Center to miss its financial goals.

The hospital lost $188,022 in March, but still shows a $489,344 operating gain for the fiscal year.  With non operating revenues added, the hospital is showing a $1,151,630 gain for the fiscal year.

Still, that's below the 5 percent margin the hospital budgeted for.  Chief Financial Officer Lynn Luloff told the hospital's Board of Trustees Wednesday that WMC has written off $19.7 million in charges this fiscal year--$1.25 million more than expected.

Luloff says a higher percentage of WMC's patients this year have been Medicare patients--one of the reasons for higher-than-expected write-offs.