For the first time ever, Winneshiek Medical Center has yearly patient revenues of more than $100 million

Preliminary financial figures are in for the 2015-2016 fiscal year of Winneshiek Medical Center and they show total patient service revenues of $103,469,693.  It's an $8.4 million increase in such revenues from 2014-2015 and the first time ever revenues have surpassed $100 million.

A complete financial audit will begin in two or three weeks, but the preliminary figures show an operating gain of $3,063,917 for the fiscal year.  When non-operating revenues such as donations are added in, the medical center showed a net gain of $3,757,620 for the fiscal year.

WMC Chief Financial Office Lynn Luloff says the medical center would have done even better financially if it weren't for $46,676,881 in contractual deductions made by Medicare, Medicaid and insurance companies.  That was $1.6 million higher than expected.  Many healthcare facilities have experienced an increase in contractual deductions from all sources this year.

But the medical center was saved by an 11 percent increase in outpatient service revenues.  WMC operates not just a hospital, but clinics staffed by Mayo Clinic physicians and it has several departments that serve quite a few patients who are not staying in the hospital.  At this point, 83 percent of all of Winneshiek Medical Center's patient revenues are generated from outpatient services.