Winneshiek Medical Center Board approves 2015-2016 hospital budget

The 2015-2016 Winneshiek Medical Center budget approved Wednesday evening by the hospital's Board of Trustees sets a goal of raising revenues by six percent next fiscal year.

The additional money--$3.3 million in net revenue--is needed to help pay for $3,781,000 in capital expenditures, including continued investments in electronic medical records.  Chief Financial Officer Lynn Luloff says the money is also needed to help the hospital prepare for reimbursement changes, including those brought on by healthcare reform.

The budget calls for just a little more than one-third of the higher revenues to come from an increased volume of business at the hospital and clinic and just under two-thirds of the higher revenues to come from increased prices.

Under the budget, expenses would increase by 4.5 percent, leaving WMC with a higher operating margin.  Also under the budget, Winneshiek County taxpayers would pay $499,190 to support the hospital--no increase in the property tax rate, but slightly more money due to higher property values.