Hospital board approves 2012-2013 budget

The Board of Trustees of Winneshiek Medical Center has approved a 2012-2013 budget for the hospital which calls for an operating margin of $1.5 million.

The gain would represent a 3.2 percent return on projected Net Operating Revenues of $47.8 million.

WMC Chief Financial Officer Lyll Luloff noted, "It is critical to WMC's strategic plan that we strive to successfully meet this margin.  WMC is dedicated to meeting the quality healthcare needs of our patients and the community, whether they are accessing us for local diagnostic testing, using our 24-hour-a-day physician-staffed emergency room, needing ambulance transport or delivering a baby."  Hospital official noted that while the 24-hour-a-day staffing of the emergency room is expensive, it is part of qualifying as a "Critical Access" hospital.

Luloff said the $1.5 million gain was also necessary to support on-going daily operations, allow for capital purchases and meet annual debt obligations.

Seven months into the 2011-2012 fiscal year, the hospital has reported an operating gain of $329,872.  That's just a 1.28 percent margin, as opposed to the budgeted 5.5 percent margin.  Luloff says the hospital had a $182,644 operating loss in January, which hurt the year-to-date figures.