Hospital revenues down $597,389

    HARLAN -- Myrtue Medical Center Trustees in an October meeting heard their CPA tout that MMC had another very good year of operations which ended on June 30, and that over the past 15 years they have had an amazing consistency in operations.    
    But five months later, finances have changed and MMC is looking at a variety of options to handle a revenue dip that as of Nov. 30 showed a net income loss of $597,389.

    Myrtue CFO, Kristy Hansen, told the board on Monday that last year was a “great year” but this year has been “fairly slow, and they are working daily to curtail losses and reduce expenses.”

    Barry Jacobsen, CEO, said following the meeting, “It’s not uncommon that the early part of the fiscal year has slower months and we tend to see our volumes ramp in December and into the Summer. We are always managing our costs and now are looking at them a bit closer with more of an emphasis.”
    No immediate cost savings options were given by administration as to how they will be managing the medical center’s costs.

    On the positive side, accounts receivables, (moneys owed to MMC), have improved from 66 days to 56 days, financial reserves are up at just over $6 million and MMC remains one of the lowest tax asking county hospitals in Iowa.

    In other enhancements they have added new surgeon on staff, Edward Fisher, MD, started in February; a new doctor, R. Adam Bendorf, DO, started in August; and a third new doctor, Maris Hoke, MD, is anticipated to join sometime in the later part of 2016.

    In addition, podiatrist, Hannah Johnk, DPM, will be on staff August 2016, and a new state-of-the-art digital x-ray unit will be in place by early next month offering greater image quality and a lower radiation dosage.

    The $365,000 device was partially paid by the bequest of the late Vera Meaves, Shelby and Harlan area, who donated $260,869 to Myrtue Medical Center after her death in 2012. A plaque in her honor will be placed in the Radiology Dept.