Winneshiek Medical Center has its financially strongest month yet

Winneshiek Medical Center has set a new monthly record for gross patient revenues (revenues before contractual deductions). 

Driven by higher than budgeted outpatient revenues for the month, total gross patient revenues for March reached over $9 million, according to Chief Financial Officer Lynn Luloff.

The hospital made $4.1million in contractual adjustments during March, paid $4.5 million in operating expenses and had other expenses that left it with an operating gain for March of $321,116.  With non-operating revenues of $65,097, the Net Gain for March was $386,213, pushing the hospital's year-to-date Net Gain to $2,977,386, which is $771,799 higher than budgeted.

Hospital officials point out, however, that a good financial performance is critical to support WMC's ongoing operational costs and upcoming capital expenditures, which include a $2.5 million investment in new electronic health records software.