Winneshiek Medical Center's financial picture is "significantly above last year"

Revenues at Winneshiek Medical Center increased dramatically during the 2013-2014 fiscal year.  The trouble was, expenses increased even more.

But now the hospital is showing signs that it's efforts to hold the line on costs are paying off.  Chief Financial Officer Lynn Luloff says in the first three months of the 2014-2015 fiscal year WMC showed an operating gain of $460,232 and a net gain of $610,939.  Both figures are "significantly above last year," Luloff told WMC Board members on Wednesday.

There's a simple explanation for the improved financial picture: While net revnues have increase 6.2 percent over the same period of the last fiscal year, operating expenses have increased only 3.4 percent.  That has enabled the hospital to not only do better than last year, but to do better than it had budgeted for the first three months of 2014-2015.