Officials with the Cass County Memorial Hospital in Atlantic, say a recent audit by Gronewold, Bell, Kyhnn & Co. P.C., shows the hospital remained financially strong during the 2014 fiscal year. Susan Daniels, CCMH Chief Financial Officer, said “The staff at CCMH is to be commended on another great year for the hospital. Our knowledgeable staff is increasingly important during this time of change in the national healthcare landscape, and we appreciate their efforts to keep CCMH a first-class hospital and economic engine in our community.”
Highlights of the audit include:
• The hospital’s unrestricted funds revenues totaled $38.95-million (for the year ending June 30, 2014), which is a 2.4 percent increase from 2013.
• The revenues included $33.4-million in net patient revenue, $638,300 in other operating revenue, $2.16-million from the county and $132,200 in investment income.
• Expenses for the year totaled nearly $36.3-million, a 2.6 percent increase from the prior year, and included just over $6.2-million for nursing services, nearly $13.7-million for other professional services and $8.86-mllion for fiscal and administrative services.
The increase in revenues was primarily due to higher reimbursement for services provided to Medicare and Medicaid beneficiaries, as well as increased retail pharmacy income. The increase in expense was primarily due to increased depreciation and interest as a result of the hospital completing its construction projects.
There were no necessary corrective measures indicated in the audit. A copy of the audit report is available for review in the offices of the Auditor of State and the CCMH Chief Executive Officer.