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NRMC gives financial update to Nevada City Council
Nevada Regional Medical Center (NRMC) Chief Executive Officer Jason Anglin presented the hospital's monthly financial report to the Nevada City Council Tuesday evening, during the council's regular session meeting.
Anglin noted that the hospital's average monthly loss when he arrived in January 2022 was at $1.2 million. "Looking ahead to where we are now, if you take the last four months of the fiscal year, our average monthly loss is at $100,000," stated Anglin.
He added that they are currently $1.1 million a month better on average than what they were when he started a year ago. "In February, we did have a larger loss at $240,000," he added. "The primary driver was our revenue was down for the month. Our outpatient volumes were lower; clinic volumes lower; and surgery volumes, in all areas were lower." Anglin stated you will have that from time to time in healthcare.
"You will have months in which volume is lower and vice versa," he noted. "On the expense side, there were some positive indicators in terms of our salary expense. Contract labor was about the same, but we're heading in the direction where it is trending downward. So, that is good."
Anglin explained that one of the expenses that was up was the hospital's self-funded insurance. "With that, you will have months that you have higher claims and months that you have lower claims," he stated. "This just so happened to be one that was higher than the month before."
He added that, overall, he would have liked for February to have been better financially, but it "didn't overtly concern" him.
On comparison year-to-date, Anglin added that although they lost $240,000 in February of this year, in February of last year they lost $1.3 million. "Huge difference from one year to the next," he stated.
He emphasized that, in fiscal year-to-date, they are $4.1 million ahead of where they were a year ago.
Anglin went on to explain how NRMC is doing a computer system conversion — converting to Computer Programs and System, Inc. (CPSI) with a starting date of July. "Presently, we're spending an enormous amount of effort to set things up for the conversion," he stated. He also noted that the Rural Hospital Group has been helping NRMC on a number of projects, including preparing for the computer system conversion.