Winneshiek Medical Center is beginning to recover from the impact of COVID-19

The Winneshiek Medical Center's financial report for May of 2020 is a whole lot brighter than the report for April was.

Because hospitals across the country had to close some of their regular services in order to prepare for the coronavirus impact--even if cases in their area turned out to be low--they lost money when revenues dropped.

But Winneshiek Medical Center Chief Executive Office Lynn Luloff told WMC Trustees on Wednesday evening that a $5.6 million one-time stimulus grant from the federal government has changed the hopsital's ink from red to black.

After eleven months of the medical center's fiscal year, it showed an operating loss of $3.6 million dollars.  However, the $5.6 million stimulus grant and around $1 million in other non-operating money meant WMC ended May with a net gain of $2,106,568.

Luloff told trustees the federal grant was "really important" because it maintained the hospital's cash flow for current operations--both now and into the new fiscal year.  She says hospital officials are feeling optimistic finally that the hospital's finances are on the right track.