|
|
|
Macon Chronicle-Herald - Macon, MO
  • Orman says Hospital is not alarmed

  • During the Samaritan Hospital Board of Trustees meeting, an audit report announced a large loss for 2012. Find out more here.
    • email print
  • During the Samaritan Hospital Board of Trustees Meeting on April 9, the audit report was presented showing a loss of $367,727 for 2012 and a loss of $239,754.74 for February 2013 alone. But Samaritan Hospital Administrator Berne Orman is not alarmed.
    "Yes we had a loss, but there was nothing odd that we were unaware of," said Orman.
    According to Samaritan Hospital Finance Executive Susan Spencer, the financial loss for 2012 can be attributed to multiple things and not pinpointed to one in particular. But the loss in February can be pinpointed at unusually high employee health care costs and also vacation times for physicians.
    "Our physicians earn their entire years worth of vacation in the beginning of the year which made a huge difference in how many salaries that were given in one month," said Spencer. " And we don't anticipate something like this to happen every month. We just know some months there are positive things that happen and sometimes it's negative."
    Even with the losses in 2012, however, there was a $1.3 million cash flow increase. According to a year-end analysis document provided by Orman, the capital asset increase in 2012 and 2011 is primarily related to the two facility improvement projects. Due to the increase of assets, the depreciation increased by $700,333 from 2011 to 2012.
    "Up until this point because we made an investment in a huge building project, we have shown profits," said Orman. "We knew going into this project we would go through some lean, tight times as far as the income statement, but if you look at our balance sheet you know what the true story is."
      • calendar